One of the roles of accounting professionals in promoting transparency is to develop methodologies to quantify ______ that impact stakeholders.
A) Product costs
B) Externalities
C) Incentives
D) Supply costs

Question

Quizplus · Accepted Answer

Accounting professionals play a crucial role in promoting transparency by developing methodologies to quantify externalities, which are costs or benefits that affect third parties who did not choose to incur that cost or benefit. This helps in understanding the broader impact of business activities on stakeholders.

One of the Roles of Accounting Professionals in Promoting Transparency