In the Context of Social Responsibility, Which of the Following

question 148

Multiple Choice

In the context of social responsibility, which of the following statements is true of benefit corporations?

• A) They do not have profits as their first priority.
• B) They receive special tax treatment.
• C) They do not undergo comprehensive annual audits.
• D) They include only small-scale businesses.

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Definitions:

Fine-Print Provisions

Small, often overlooked details or conditions in agreements or contracts that may have significant legal implications.

Standard Form Contracts

Pre-prepared legal agreements used in common transactions with fixed terms that are non-negotiable.

UCC's Rules

The Uniform Commercial Code (UCC)'s Rules refer to the standardized set of laws and regulations designed to govern sales and commercial transactions in the United States, facilitating interstate commerce.

Common Law

A legal system based on custom, court rulings, and precedent, rather than on codified laws.