According to the Concept of Social Responsibility,a Firm Has a Duty

question 292

Multiple Choice

According to the concept of social responsibility,a firm has a duty to

• A)communicate regularly with the public.
• B)satisfy consumer needs at any cost.
• C)place profit above all other considerations.
• D)place customer satisfaction above all other considerations.
• E)work in a way that is always good for society as a whole.

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Definitions:

Income

Money received, especially on a regular basis, for work, through investments, or from business activities.

Management Of Variance Analysis

The process of investigating the differences between actual financial results and budgeted or expected results, with the aim of understanding the reasons behind these variances to manage and improve financial performance.

Flexible Budget Amounts

Budgeted figures that can adjust based on changes in activity levels or other factors, unlike a static budget.

Variable Costs

Expenses that change in proportion to the volume of production or sales, including components like raw materials and direct labor costs.