Which of the Following Statements Is True About Corporate Social

question 50

Multiple Choice

Which of the following statements is true about corporate social responsibility?

• A) Businesses should monitor and prevent social problems in advance of their becoming major issues.
• B) A company should seek maximum profits from its operations in order to provide the best for society.
• C) Corporations should be accountable for any actions that affect people, their communities, and the environment.
• D) Both A and C, but not B

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Definitions:

Owner's Equity

The residual interest in the assets of a company after deducting liabilities.

Trial Balance

A trial balance is a bookkeeping report that lists the balances in each of an organization's general ledger accounts.

General Ledger

A complete record of all financial transactions over the life of a company, serving as the primary source for generating financial statements.

Entire Group

This term signifies the collective entirety of a set of items, individuals, or entities being considered as a whole.