The Idea That Corporate Social Responsibility Is Unnecessary Because the Goal

question 35

True/False

The idea that corporate social responsibility is unnecessary because the goal of any corporation is simply to make a profit has been thoroughly discredited and is no longer supported by economists or businesspeople.

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Definitions:

Bank Reconciliation

The procedure of aligning the figures in a company's bookkeeping records for a cash account with the equivalent data on a bank statement.

External Auditors

External auditors are independent accounting professionals who examine the financial statements of an organization to ensure accuracy and compliance with applicable standards and regulations.

Internal Control System

Procedures and policies set by an enterprise to preserve the correctness of its financial and bookkeeping details, advance accountability, and obstruct malicious acts.

Financial Records

Documented information of a business's operations, including income, expenses, assets, and liabilities, used to track financial performance.