Which of the Following Statements Is a Valid Criticism of the Accounting

question 9

Multiple Choice

Which of the following statements is a valid criticism of the accounting profession with respect to its consideration of social and environmental reporting?

• A) Practice of discounting liabilities, particularly those liabilities that will not be settled for many years, allows the recognition of future expenditures on environmental clean-up in the current period.
• B) Gray, Owen and Adams (1996) argue that discounting makes good economic sense but discourages entities in undertaking environmentally friendly activities.
• C) The profession has a narrow focus of users of social and environmental reports limiting this to investors, governments and institutional investors.
• D) AASB 137 Provisions, Contingent Liabilities and Contingent Assets limits the obligations relating to environmental performance to legal obligations.

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Definitions:

Biological Sex

The classification of living beings, generally as male or female, based on their reproductive anatomy and functions.

Gender Labels

Terms that classify or categorize individuals according to their perceived or assigned gender.

Work Outside

Refers to employment or activities that are conducted in open environments, away from traditional office settings.

Parasympathetic Division

One of the two divisions of the autonomic nervous system, often referred to as the "rest and digest" system, that conserves energy and restores the body to a state of calm.