Question

sunset oil is a large oil drilling company off the gulf coast. they want to expand their drilling area and are receiving a great deal of push back from the local community. it will now be on the ballot at the next election. sunset oil is concerned about how all of this will impact their bottom line. which of the following should be a consideration for sunset oil?

Answer 1

Sunset Oil is concerned about how all of this will impact their bottom line. Triple bottom line should be a consideration for sunset oil.

The triple bottom line, often known as TBL or 3BL, is a framework for accounting that combines social, environmental (or ecological), and economic considerations.

The TBL framework has been implemented by several firms to analyze their performance from a wider angle and boost commercial value. According to business author John Elkington, the phrase was first used in 1994.

The "profit" or "loss," which is typically shown at the very bottom of a statement of revenues and expenses, is referred to as the "bottom line" in traditional company accounting and popular usage.

Full cost accounting has been introduced by environmentalists and social justice activists during the past 50 years in an effort to broaden the notion of the bottom line in the public's mind.

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