Which Level of Social Responsibility Centers on Making Sure Creditors

question 68

Multiple Choice

Which level of social responsibility centers on making sure creditors are paid,a strong competitive advantage is maintained,and operations are efficient?

• A) Economic responsibility
• B) Legal responsibility
• C) Ethical responsibility
• D) Philanthropic responsibility

---

Definitions:

Value-Based Pricing

is a strategy under which the sale price of a product or service is determined primarily by the perceived value to the customer rather than by the cost of production.

Preventive Maintenance

Regular and systematic inspection, cleaning, and replacement of worn parts, materials, and systems to prevent unforeseen failures and maximize efficiency.

Useful Life

The estimated period over which an asset is expected to be usable by the entity owning it, for its intended purpose.

Traceable Fixed Expense

Fixed costs that can be directly linked to a specific department, product, or segment and would disappear if the related operation ceased.