Question 1

Social accounting attempts to put a _________________ _______________ on the costs and benefits of a business' activities in relation to both society and the environment.

Accepted Answer

The answer of Social accounting attempts to put a _________________...

Question 2

_________________ _______________ refers to the idea that development to meet the needs of the present should not compromise the ability of future generations to meet their needs.

Accepted Answer

The answer of _________________ _______________ refers to the idea that...

Question 3

From a business perspective, strategic planning is about making better _________________ decisions for long term prosperity and sustainability.

Accepted Answer

The answer of From a business perspective, strategic planning is...

Question 4

Corporate social responsibility does not take into account financial or economic considerations.

Accepted Answer

takes into account economic, social and environmental impacts

Question 5

Triple bottom line consists of economic, environmental and social impacts of business activity.

Accepted Answer

The triple bottom line refers to a sustainability framework that examines a company's social, environmental, and economic impacts.

Question 6

Sustainability accounting is an accounting practice which seeks to ensure the financial aspects of the financial accounts are sustainable.

Accepted Answer

is a set of statements providing cost data about economic, environmental and social impacts of business activity

Question 7

A business does not have to be profitable, or in the case of not-for-profit organisations, be financially self-sustaining, in order to survive in today's business world.

Accepted Answer

must be profitable to continue to survive, hence the economic aspect of triple bottom line

Question 8

Environmental performance includes the amount of energy consumed, its origin, financial cost to shareholders and the amount of the extra dividends payable to shareholders as a result.

Accepted Answer

dividends payable to shareholder is an economic aspect not an environmental aspect

Question 9

There are increasing expectations among stakeholders for businesses to be 'green'.

Accepted Answer

There is a growing trend among consumers, investors, and regulatory bodies expecting businesses to adopt sustainable and environmentally friendly practices, reflecting a broader societal shift towards valuing sustainability.

Question 10

Greenwashing occurs when a business spends considerable time and money emphasising its green credentials through marketing and advertising.

Accepted Answer

Greenwashing refers to the practice where companies spend more effort and resources on marketing themselves as environmentally friendly or sustainable, rather than actually implementing practices that minimize environmental impact. This can mislead consumers into believing that their products or services are more eco-friendly than they actually are.

Question 11

Social performance addresses interactions between business and the community, including issues such as human resource management, workplace health and safety, community involvement initiatives and customer and stakeholder satisfaction.

Accepted Answer

Social performance in business refers to how a company manages its relationships and responsibilities towards the community and its stakeholders, including aspects like human resource management, health and safety, community involvement, and customer satisfaction, aiming to achieve positive social impacts.

Question 12

Sustainability reporting involves preparation of a stand-alone report to be submitted to the government.

Accepted Answer

can be part of a business' annual report, a stand-alone sustainability report, such as a triple bottom line report or an environmental or social impact report

Question 13

There are no legal obligations regarding sustainability reporting in Australia.

Accepted Answer

some legal obligations exist under Corporations Act 2001

Question 14

The Global Reporting Initiative framework takes into account the practical considerations faced by a diverse range of organisations from small enterprises to those with extensive and geographically dispersed operations.

Accepted Answer

The Global Reporting Initiative (GRI) framework is designed to be flexible and applicable to organizations of all sizes and types, across different sectors and regions, acknowledging the varied challenges and operational contexts they face.

Question 15

The Global Reporting Initiative is continually being updated and improved through a process of consensus.

Accepted Answer

The Global Reporting Initiative (GRI) is indeed continually updated and improved through a multi-stakeholder process that seeks consensus, ensuring that its standards remain relevant and effective for sustainability reporting.

Question 16

A key part of business sustainability is understanding how products and services impact on the environment.

Accepted Answer

Understanding the environmental impact of products and services is crucial for business sustainability, as it helps companies minimize negative effects on the planet and align with sustainable practices.

Question 17

Decisions which are based on capital costs alone may not include resource-efficiency improvements or reductions in business risk that may provide a more stable return.

Accepted Answer

Decisions based solely on capital costs overlook potential benefits such as resource efficiency and reduced business risk, which can lead to more stable returns.

Question 18

Since capital expenditure decisions involve cash payments and cash receipts occurring at different times, often over several years, a manager must consider the time value of money in sustainability-related decisions.

Accepted Answer

Capital expenditure decisions, especially those related to sustainability, often span several years and involve cash flows at different times, making it essential to consider the time value of money to accurately assess their financial viability.

Question 19

The present value is the value today (year 0) of a certain amount of dollars paid or received in the future.

Accepted Answer

The present value concept is used in finance to determine the value of a future amount of money in today's dollars, taking into account the time value of money.

Question 20

The required rate of return on an investment is the maximum return required by investors on the amount invested.

Accepted Answer

is the minimum return required

Quiz 10: Sustainable Business

Social accounting attempts to put a ___ _ on the costs and benefits of a business' activities in relation to both society and the environment.

___ _ refers to the idea that development to meet the needs of the present should not compromise the ability of future generations to meet their needs.