Which of the Following Statements Is TRUE Regarding Sustainability Accounting

question 3

Multiple Choice

Which of the following statements is TRUE regarding sustainability accounting?

• A)The Global Reporting Initiative (GRI)is a for profit organization established to develop guidelines so that "reporting on economic, environmental and social performance by all organizations is as routine and comparable as financial reporting."
• B)Statutory requirements describe the elements that must be included in reports based on sustainability accounting.
• C)Since 2002 it has been a criminal offence for the Chief Financial Officer to sign off on a report based on sustainability accounting that does not include a section on environmental management.
• D)Corporate Social Responsibility (CSR)is a subset of sustainability accounting.
• E)The trend to sustainability in reporting has emphasized value creation as well as risk mitigation in financial reports and management discussion and analysis of organizations.

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Definitions:

Tractors

Heavy vehicles designed for agricultural use, mainly for plowing, tilling, and planting fields.

Autarky

An economic system where a country or entity is self-sufficient and does not engage in trade with external parties.

Comparative Advantage

The capability of an entity to generate a product or service with a lesser opportunity cost compared to others, resulting in enhanced trading efficiency.

Consumption Point

A specific point on a budget constraint that shows the combination of two goods that a consumer can afford.