Which of the Following Statements Accurately Describes Corporate Social Responsibility

question 103

Multiple Choice

Which of the following statements accurately describes corporate social responsibility (CSR) ?

• A) CSR promotes the view that companies should single-mindedly focus on shareholders alone.
• B) CSR is limited to the notion of encouraging businesses to "just be nice" to society.
• C) CSR provides a conceptual model that more completely describes a society's expectations.
• D) CSR is based on the tenet that the needs of both internal and external stakeholders are the same.

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Definitions:

Liability

Refers to the state of being legally responsible for something, such as a debt or obligation.

Agent

An individual or entity authorized to act on behalf of another, typically in a business or legal capacity, entering into agreements or making decisions.

Fiduciary Duties

Obligations one party has to act in the best interest of another party, such as a trustee towards a beneficiary.

General Partner

A type of ownership in a partnership where the general partner is responsible for the management of the partnership and is personally liable for its debts.