Which of the options below are true for Environmental Management Accounting? With explanation.

1. Effective management of environmental costs could be a source for obtaining a competitive advantage
2. Environmental costs should be treated as production overheads
3. Both above
4. None of the above

Which of the following should not be included in an environmental cost budget? With explanation.

1. Cleaning up contaminated sites
2. Fines for environmental contamination
3. Using methods and technology to prevent pollution
4. Systems to detect pollution