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