According to Milton Friedman,the Social Obligation of a Corporation Is

question 58

True/False

According to Milton Friedman,the social obligation of a corporation is to return as much money as possible to its shareholders.

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Definitions:

Prepaid Rent

An asset account that represents payment for rent that covers a future period, reflecting rent expense that has not yet been incurred.

Adjusting Entry

A journal entry made at the end of an accounting period to record unrecognized income or expenses in order to maintain accrual accounting accuracy.

Rent Expense

The cost incurred for using a property or space for business or residential purposes.

Contra Asset Account

An account that offsets or reduces the balance of a related asset account, used to record reductions or allowances, like accumulated depreciation.