ICANBusiness, Management and FinanceBusiness Ethics and Corporate Social Responsibility2023

Which of the following BEST describes the concept of the 'triple bottom line' as applied in Corporate Social Responsibility (CSR) reporting?

AReporting on profit, revenue, and cash flow to satisfy multiple stakeholder groups
BMeasuring organisational performance across economic, social, and environmental dimensionsCORRECT
CProducing three separate financial statements: income statement, balance sheet, and cash flow statement
DDisclosing information to three categories of stakeholders: shareholders, creditors, and employees
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
The triple bottom line, coined by John Elkington, expands the traditional financial reporting framework to include social and environmental performance alongside economic performance, often summarised as 'People, Planet, and Profit.' It is not about three financial statements or three stakeholder categories, nor is it limited to profit, revenue, and cash flow metrics.
Want this in Pidgin, Yoruba, Igbo or Hausa? Sign up free →

Practice more Business, Management and Finance questions

ICAN Business, Management and Finance has thousands more questions like this — with Worked answers on every one.

Start practicing free →See all Business, Management and Finance questions