When Undertaking Social Initiatives,a Company

question 11

Multiple Choice

When undertaking social initiatives,a company:

• A) Must take out social responsibility insurance.
• B) Will always receive long-term profits.
• C) May sacrifice short-term profits.
• D) Risks going bankrupt in nearly all cases.

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Definitions:

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides benefits for retirees, disabled workers, and survivors.

Medicare Tax

A federal tax that funds Medicare, a U.S. government health insurance program for individuals who are 65 years old and over.

Unemployment Compensation

Financial payments made to individuals who have lost their jobs through no fault of their own, intended to provide temporary financial assistance.

Internal Controls

Processes and procedures implemented by a business to safeguard assets, enhance accuracy of financial records, and increase efficiency.