Social responsibility
A) is a code that helps accountants when dealing with confidential information
B) is a concern for the impact of our actions on society as a whole
C) allows Canada Revenue Agency to regulate businesses
D) requires that all businesses conduct social audits
E) requires analysts to report information favourable to their companies

Question

Quizplus · Accepted Answer

Social responsibility refers to the idea that individuals and organizations have a duty to act in ways that benefit society as a whole. This includes being aware of the impact of our actions on the environment, community, and other stakeholders, and taking steps to minimize any negative effects. It is not related to codes for accountants or regulation by the Canada Revenue Agency. Social audits are a tool that some organizations use to evaluate their social and environmental impacts, but they are not required by social responsibility. Reporting information that is favourable to a company, regardless of its social impact, is not a part of social responsibility.

Social Responsibility