What Are the Two Kinds of Practices Associated with Corporate

question 159

Multiple Choice

What are the two kinds of practices associated with corporate social responsibility?

• A)Informal and formal
• B)Internal and external
• C)Inside and outside
• D)Proactive and reactive
• E)Voluntary and involuntary

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Definitions:

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the value of the business's brand, customer base, and other non-physical assets.

Land Improvements

Upgrades made to land such as landscaping, irrigation systems, and construction of pathways that enhance its value and utility.

Buildings

Structures constructed on land that serve various purposes, such as commercial, residential, or industrial activities, often considered as long-term assets in financial accounting.

Land

A natural resource concerning the solid surface of the earth, which is not subject to depreciation.