When a Group Decides to Organize for the Purpose of Pooling

question 75

Multiple Choice

When a group decides to organize for the purpose of pooling their resources to gain a market advantage, this is known as a(n) ________.

• A) corporation
• B) consortium
• C) cooperative
• D) syndicate
• E) enterprise

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Definitions:

CSR

Corporate Social Responsibility (CSR) refers to a company's commitment to operate in an economically, socially, and environmentally sustainable manner.

Shareholders

Shareholders are individuals or entities that own shares in a corporation, giving them partial ownership and possibly the right to vote on corporate matters.

Corporate Governance

The framework of rules, practices, and processes by which a company is directed and controlled, ensuring accountability and aligning with stakeholders' interests.

CEO

Chief Executive Officer, the highest-ranking executive in a company, who makes major corporate decisions, manages the overall operations and resources, and acts as the main point of communication between the board of directors and corporate operations.