The Social Impact of the Triple Bottom Line Concept Pertains

question 40

True/False

The social impact of the triple bottom line concept pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts its business.

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Definitions:

Ratify

To formally approve or confirm an agreement, contract, or decision, often after the fact, to make it officially valid and binding.

Age of Majority

The legally defined age at which an individual is considered an adult, with all the rights and responsibilities that entail.

Traditional Rule

A principle or doctrine that has been established through historical usage and has become widely accepted and practiced.

Voidable Contract

A legal agreement that remains valid until one party, who is entitled to do so under the law, chooses to void or nullify the contract.