Converting Socially Responsible Ideas into Actions Involves Careful Planning and Monitoring

question 148

Multiple Choice

Converting socially responsible ideas into actions involves careful planning and monitoring of programs. Many companies develop, implement, and evaluate their social responsibility efforts by means of a(n)

• A) social audit.
• B) financial audit.
• C) action plan.
• D) tactical plan.
• E) research plan.

---

Definitions:

Cost of Goods Sold

The total direct costs incurred in producing goods which are sold, including materials and labor.

Current Asset

An asset that is expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Long-Term Liabilities

Long-Term Liabilities are financial obligations of a business that are due more than one year in the future, such as bonds payable or long-term loans.

Cost of Goods Sold

Cost of goods sold represents the direct costs attributable to the production of the goods sold by a company, including material and labor costs.