To Which of the Following Forms of Business Can the Concept

question 34

Multiple Choice

To which of the following forms of business can the concept of social responsibility be applied?

• A) Large, public corporations
• B) Small, privately held corporations
• C) All forms of corporations
• D) Any form of business, from a sole proprietorship to a large corporation
• E) All businesses except those with less than 50 employees

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Definitions:

Collusion

An agreement, usually secretive, between two or more parties to limit open competition by deceiving or defrauding others of their legal rights, or to obtain an objective forbidden by law, typically involving fraud or gaining an unfair market advantage.

Establishing Responsibilities

A principle of internal control that aims to clearly define roles and duties within an organization to ensure accountability and efficient operations.

Internal Control System

A process employed by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Risk of Loss

The potential for an investment's actual return to differ from the expected return, including the possibility of losing some or all of the original investment.