Social Responsibility Is the Concern of Businesses for Society as a Whole

question 35

True/False

Social responsibility is the concern of businesses for society as a whole, going beyond contractual obligations.

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Definitions:

Board of Directors

A group of individuals elected by shareholders to oversee the management of a corporation, making key decisions and setting policies.

Dividend

A payout of a portion of a company's earnings to its shareholders, usually decided by the board of directors.

Public Corporation

A company whose shares are traded freely on a stock exchange.

Registrars

Entities responsible for maintaining records of shareholders and bondholders for corporations and ensuring compliance with regulatory requirements.