There Are Three Concepts of Social Responsibility, Each Relating to Particular

question 137

Multiple Choice

There are three concepts of social responsibility, each relating to particular constituencies. Stakeholder responsibility is characterized by

• A) the triple bottom line, to achieve sustainable, long-term growth.
• B) a focus on the obligations an organization has to those who can affect achievement of its objectives.
• C) an engagement in open and free competition without deception or fraud.
• D) an unrelenting customer focus.
• E) a focus on seller-oriented outcomes.

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Definitions:

Normal Credit Balance

The expected balance on the credit side of an account, based on its accounting function (e.g., liabilities, revenues, and equity accounts).

Accounts Receivable

tracks money owed to a business by customers who have purchased goods or services on credit, representing a line of credit extended by the business and due within a short period.

Sales

The transactions involving the exchange of goods or services for money or other compensation.

Perpetual Inventory System

An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.