In: Accounting
Consider the following costs:
(A) Safety tests for a future production type
(B) Fines for releasing toxic chemicals into the ocean
(C) Employee health and safety problems arising from a leak in a
chemical plant
(D) Temperature monitoring systems in a heating vat, to ensure
employees are working in safe conditions.
(E) Fines for breaching occupational health and safety standards
for employees.
(F) Fines for breaching environmental emission levels from plant
operations.
Required
Identify and explain the environmental cost type of each of the
above costs (prevention, appraisal, internal failure or external
failure costs).
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