Environmental Full Cost Accounting: Definition & Example

Instructions:

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question 1 of 3

Which of the following definitions best describes environmental full cost accounting?

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1. Which of the following terms is best described as a side effects or costs of an activity that affect otherwise uninvolved parties?

2. Which of the following terms is best described as a basic method for assessing the environmental impacts of products, technologies and activities from the cradle to the grave?

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About This Quiz & Worksheet

Topics this quiz will cover include the definition of full cost accounting and the costs of an activity that affects uninvolved parties.

Quiz & Worksheet Goals

With the quiz, you can review:

  • The definition of full cost accounting
  • The costs of an activity that affects uninvolved parties
  • A process to assess the impact of a product on the environment
  • The characteristics of environmental full cost accounting

Skills Practiced

  • Defining key concepts - ensure that you can accurately define full cost accounting
  • Interpreting information - verify you can read information regarding the characteristics of environmental full cost accounting and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about the costs of an activity that affects uninvolved parties

Additional Learning

The lesson entitled Environmental Full Cost Accounting: Definition & Example is an excellent source of information to learn more and achieve the following learning objectives:

  • Understand the importance of full cost accounting on the environment
  • Identify the role of externalities in full cost accounting
  • Describe the benefits and challenges that go along with business costs
  • Appreciate how an organization can determine the effects of their plans
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