Accounting Business Reporting for Decision Making 6th Edition Birt Test Bank

Testbank

to accompany

Accounting: business

reporting for decision making

6th edition

by Birt et al.

© John Wiley & Sons Australia, Ltd 2017 Accounting Business Reporting for Decision Making 6th Edition Birt Test Bank Visit TestBankDeal.com to get complete for all chapters

Chapter 2: Accounting in society

© John Wiley & Sons Australia, Ltd 2017 2.1

Chapter 2: Accounting in society

Learning objectives

• Describe business sustainability, outline its key drivers and principles and compare

key theories in the area

Q1, Q2, Q3, Q4, Q31, Q32, Q33, Q34, Q35, Q36

• Appraise CSR reporting frameworks and the accountant’s role in CSR

Q5, Q6, Q7, Q8, Q9, Q37, Q38

• Explain the concept of corporate governance

Q10, Q11, Q39, Q40

• Outline corporate governance guidelines and practices

Q12, Q13, Q14, Q41

• Outline the role of ethics in business and compare ethical philosophies relevant to

business decision making

Q15, Q16, Q17, Q18, Q19, Q20, Q21, Q22, Q23, Q24, Q42

• Explain the use of codes of ethical conduct and apply ethical decision-making

methods to business situations.

Q25, Q26, Q27, Q28, Q29, Q30, Q43, Q44, Q45

Testbank to accompany Accounting: business reporting for decision making 6e

© John Wiley & Sons Australia, Ltd 2017 2.2 Multiple-choice questions

• Which of these is not one of the nine principles of business sustainability

performance?

• Ethics.

*b. Foreign currency policy.

• Business relationships.
• Value of products and services.

Correct answer: b

Learning Objective 2.1 ~ Describe business sustainability, outline its key drivers and principles and compare key theories in the area

• Which of the following is a key driver of business sustainability?

• Climate change.
• Economic globalisation.
• Connectivity and communication.

*d. All the options are key drivers of business sustainability.

Correct answer: d

Learning Objective 2.1 ~ Describe business sustainability, outline its key drivers and principles and compare key theories in the area

• Individuals or groups with an interest in the success of an entity are collectively

referred to as:

• shareholders.
• board of directors.

*c. stakeholders.

• employees.

Correct answer: c

Learning Objective 2.1 ~ Describe business sustainability, outline its key drivers and principles and compare key theories in the area

Chapter 2: Accounting in society

© John Wiley & Sons Australia, Ltd 2017 2.3

• According to stewardship theory, serving on an entity’s board of directors:

• is purely for a director’s self-interests.
• is a personal wealth creation opportunity.

*c. is a chance to play a role in the proper workings of the marketplace.

• is for the benefit of one stakeholder, the entity.

Correct answer: c

Learning Objective 2.1 ~ Describe business sustainability, outline its key drivers and principles and compare key theories in the area

5. The underlying concept of triple bottom line reporting is in line with:

• shareholder value.

*b. stakeholder theory.

• legitimacy theory.
• agency theory.

Correct answer: b

Learning Objective 2.2 ~ Appraise corporate social responsibility (CSR) reporting frameworks and the accountant’s role in CSR

6. The role of accountants in reporting and promoting sustainability includes:

• reporting sustainability performance.
• internal control procedures.
• analysing of energy consumption costs.

*d. all of the above.

Correct answer: d

Learning Objective 2.2 ~ Appraise corporate social responsibility (CSR) reporting frameworks and the accountant’s role in CSR

• The concept of the triple bottom line states that an entity is responsible for the areas

of:

• economic, social and ethical performance.

*b. economic, social and environmental performance.

• economic, environmental and ethical performance.
• social, environmental and ethical performance.

Correct answer: b

Learning Objective 2.2 ~ Appraise corporate social responsibility (CSR) reporting frameworks and the accountant’s role in CSR