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

question 60

Multiple Choice

There are three concepts of social responsibility, each relating to particular constituencies. Societal 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:

Magazine Subscriptions

Recurring payments made by the readers to receive periodic publications over a specific period of time.

Supplies Expense

The cost associated with the consumption of supplies used in the operation of a business.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Inventory Supplies

Items or materials kept on hand by a business for the production process or for sale.