GDP Does Not Directly Include

question 115

Multiple Choice

GDP does not directly include:

• A)​the value of final goods and services produced, but not sold, during a period.
• B)​the value of services rendered during a period.
• C)​the value of intermediate goods sold during a period.
• D)​any of the above.

Understand the triple bottom line concept and its application within the Global Reporting Initiative framework.

Distinguish between the focus areas of ethics audits and social reports.

Appreciate the importance and methods of securing stakeholder input during an ethics audit.

Know the escalation phases during an ethical disaster and the concept of shared values in successful management.

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Definitions:

Pro Forma Statement

An estimation or projection of future financial performance based on a company's current financial position and expected future transactions.

Capacity Utilization

The percentage of a business or industry's total possible production capacity that is actually being utilized.

Financial Planning Process

The financial planning process involves setting financial goals, analyzing current financial conditions, developing strategies to achieve those goals, and implementing and monitoring the strategy.

Planning Horizon

The long-range time period the financial planning process focuses on, usually the next two to five years.