ACG 2071 Ch 15 quiz
The global reporting initiative provides guidance on
sustainability reporting
Which statement about the Global Reporting Initiative is incorrect? A. The GRI reporting framework is widely used around the world B. GRI provides sustainability reporting guidance C. GRI advocates reporting data on economic, environmental and total quality improvement aspects D. GRI includes social reportable data on product responsibility
C
The Hewlett-Packard Company, a manufacturer of computers and related products, established its own R & R program in 1987. This program enables consumers to return any defective or used electronic goods and ink cartridges, which helps decrease the company's impact on the environment by avoiding landfills and allows the company to recycle the plastics and metals used in these products. The cost of recycling used computer products for consumers would fall into which function in the value chain?
Customer service
GenPak, LLC, manufactures food packaging, and uses plastic in its products that is very conducive to recycling. In fact, much of its products are created from recycled plastic, much of which comes from GenPak's own products post-consumer usage at the end of the products' life cycle. The cost of designing the process for continuing the life cycle of these products would fall into which function in the value chain?
Design
Able Plastics, a plastics production company, has very stringent audits on its carbon emissions, and puts a lot of effort into offsetting its carbon emissions. For instance, not only does Able Plastics invest in the Strzelecki Ranges replanting site, but Able Plastics also endeavors to cut emissions by requiring that all electronic devices be fully turned off at night in all company buildings. Able Plastics also uses carbon offsets for its delivery vehicles. The cost of these carbon offsets for delivery vehicles would fall into which function in the value chain?
Distributing
Corporate sustainability reporting is covered by GAAP. T or F
F
It is unlikely that the marketing vice president of a company would be involved in implementing the sustainability program of a large company. T or F
F
Sustainability Programs are unlikely to grow shareholder and brand value. T or F
F
Sustainability reports are usually top level reports without a lot of detailed charts or data. T or F
F
Sustainability reports must be audited before they are issued to the public. T or F
F
The only employees in a company that work with sustainability programs are managerial accountants. T or F
F
The Coca Cola Company is currently spotlighting one of its newest innovations in packaging: the PlantBottle. In one of its promotion ads, it is hailed as, "The first ever recyclable PET plastic beverage bottle made partially from plants...and recycles just like traditional PET plastic, but does so with a lighter footprint on the planet and its scarce resources." The cost of the research necessary for the Coca Cola Company's newest foray into greener packaging would fall into which function in the value chain?
R&D
The Sharp Corporation manufactures electronics. Sharp purchases recycled plastic parts to use in its products. The costs of this practice would fall into which function in the value chain?
Purchasing or producing
A company may issue sustainability reports to show their commitment to environmental and social issues. T or F
T
Companies are not required to have their Sustainability reports audited.
T
When the Big Four accounting firm validated UPS's sustainability report, they were providing ________
assurance
Another word for third party verification
audit
Key management position responsible for sustainability initiatives
corporate sustainability officer
Achieving economic savings by producing goods and services with fewer ecological resources is called ___________
eco-efficiency
The impact of the oil spill on ecosystems is an example of an ________ _______
external cost
The G4 guidelines were developed by the ___ ____ ____, a nonprofit organization whose mission is to help standardize sustainability reporting practices
global reporting initiative
The cost of cleaning up the oil spill to be paid by BP is $42 billion dollars, this is an ______ ______
internal cost
When a company studies the environmental and social impact of one of its products over the product's entire life, it is performing a(n)
life cycle assessment
Financial professional that will likely play a major role in sustainability reporting
management accountant
Engineered Plastic Systems, LLC, a company that manufactures outdoor furniture, uses plastic lumber that is composed of recycled materials as a wood alternative for building its products. The plastic used is not only eco-friendly, but is also 50% recycled, 10% of which is post-consumer material. In promoting these eco-friendly features, the company is careful to make the distinction that it is not like other companies that falsely inflate their green efforts, stating specifically that it will always back up each of their claims with facts, and never mislead the customer about the actual amount of recycled plastic in their products. The cost of such promotions would fall into which function in the value chain?
marketing
A reason for a company to adopt sustainability practices
negative publicity
The red cross and greenpeace are both examples of ________ _______
non-governmental organizations
Tons of solid waste generated is an example of
physical information in the EMA system
Life Cycle Assessment involves analyzing the environmental and societal impact of each product from ______ materials to internal ______ ______ activities to use of product by ______ to ultimate ______ of product by the customer
raw, value chain, customer, disposal
A corporate social responsibility (CSR) report is also known as a(n) _____ ______
sustainability report
One use of reporting environmental accounting information is
to be in compliance with laws and regulations