Identify and Discuss the Four Types of Groups That Serve

question 166

Essay

Identify and discuss the four types of groups that serve as "watchdogs" regarding how well companies enforce their ethical and social responsibility policies.

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Definitions:

Long-Term Debt

Loans and financial obligations lasting over one year that appear on a company's balance sheet.

Current Liability

A current liability is a financial obligation that is due to be settled within one year or within the normal operating cycle of the business, whichever is longer.

FICA Taxes

Taxes mandated by the Federal Insurance Contributions Act, which fund Social Security and Medicare, collected from both employers and employees.

FUTA Taxes

Federal Unemployment Tax Act taxes, which are payroll taxes paid by employers to fund the government’s unemployment benefits.