Which of the Following Statements Is True

question 85

Multiple Choice

Which of the following statements is true?

• A)All actions deemed unethical by society are also illegal.
• B)The concerns of what is legal and ethical do not change over time.
• C)The terms social responsibility and ethics should be used interchangeably.
• D)Companies can be both profitable and socially responsible.
• E)Businesses whose sole objective is to earn profit may not consider their social responsibility.

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Definitions:

Venture Capital

A form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential.

Line-by-Line Method

An accounting method for consolidating the financial statements of a parent company and its subsidiaries by adding together similar items line by line.

AASB 11

A standard that outlines the accounting for joint arrangements, focusing on the contractual sharing of control over an economic activity between parties.

Jointly Controlled Entities

These are entities that are operated and controlled together by two or more parties under a contractual arrangement.