According to Archie Carroll,the Responsibility That Management of a Business

question 22

Multiple Choice

According to Archie Carroll,the responsibility that management of a business organization has to produce goods and services of value to society so that the firm may repay its creditors and stockholders is called

• A) legal responsibilities.
• B) ethical responsibilities.
• C) economic responsibilities.
• D) financial responsibilities.
• E) discretionary responsibilities.

Understand the ethical obligations and duties of legal professionals.

Recognize the significance and impact of prosecutorial discretion in the legal system.

Comprehend the rules surrounding the conduct of prosecutors, lawyers, and the court.

Identify the limitations and protections involved in legal representation and client-lawyer relationships.

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Definitions:

Shareholder's Equity

The residual interest in the assets of a corporation after deducting liabilities, often represented by stock capital and retained earnings.

Internally Generated Trademark

A trademark that has been developed through the internal efforts of a company, not acquired or purchased from a third party.

Contingent Liability

(a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity; or (b) a present obligation that arises from past events but is not recognised because: (i) it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or (ii) the amount of the obligation cannot be measured with sufficient reliability.

Business Combination Valuation

The process of estimating the value of different companies coming together through acquisitions or mergers.