Which One of the Following Statements Does Not Accurately Represent

question 26

Multiple Choice

Which one of the following statements does not accurately represent Milton Friedman's view of the social responsibility of business?

• A) Companies only exist to make a profit for their shareholders.
• B) Directors' sole responsibility is to the shareholders.
• C) As long as a profit is being made in any way whatsoever, nothing else is seen to matter.
• D) Directors should ignore all other performance measures and indicators and report only financial data.

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Definitions:

Enameling Department

A specific division within a manufacturing facility focused on the process of applying a vitreous enamel coating to products.

Conversion Costs

The costs involved in converting raw materials into finished products, including labor and overhead.

First-In, First-Out

An inventory valuation method where the goods purchased or produced first are sold or used first.

Brazing Department

A specialized division within a manufacturing facility where brazing, a process for joining two metals, is performed.