The Obligation of Organization Management to Make Decisions and Take

question 34

Multiple Choice

The obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization is referred to as:

• A) self-dealing.
• B) corporate social responsibility.
• C) discretionary responsibility.
• D) economic responsibility.
• E) none of these.

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Definitions:

Standardised Services

Services that are provided in a consistent manner every time, ensuring uniform quality and experience across all service points.

Profit and Loss Statement

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year.

Common Fixed Costs

Costs that do not vary with the level of output or sales, shared among products or departments.

Investment Evaluation

The process of determining the potential returns of an investment opportunity, considering risks, costs, and benefits to make informed financial decisions.