A Social Responsibility Theory of Business Which Says That a Corporation's

question 15

Multiple Choice

A social responsibility theory of business which says that a corporation's duty is to make a profit while avoiding causing harm to others is referred to as ________.

• A) stakeholder interest
• B) corporate citizenship
• C) maximizing profits
• D) moral minimum

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Definitions:

Double Taxation

The imposition of tax by two or more jurisdictions on the same declared income, asset, or financial transaction.

S Corporation

A type of corporation in the United States that elects to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code, allowing profits to be passed directly to shareholders and avoid double taxation.

Promoters

Individuals or entities that take the initiative in founding and organizing a business or corporation, often responsible for its early management and securing of initial capital.

Incorporation Process

The legal procedure through which a business entity is formed and recognized as a corporation under the law, providing it with certain legal rights and protections.