Question 1

Which is the element of social responsibility?

Accepted Answer

Social responsibility is a universal concept that emphasizes the supremacy of public interest and is applicable to business organizations among other entities. It encompasses a broad range of principles aimed at ensuring entities act in a manner that benefits society at large.

Question 2

Which one of the following is not principle of business ethics?

Accepted Answer

The principle of dissatisfaction is not recognized as a principle of business ethics. Business ethics principles typically include concepts like universality, humanity, and autonomy, which guide moral and ethical behavior in business practices. The principle of dissatisfaction does not align with the constructive, positive principles aimed at guiding ethical business conduct.

Question 3

Business ethics is a dynamic philosophy of ---- economic adjustment whose field is widening day-by-day

Accepted Answer

Business ethics is a dynamic philosophy of socio-economic adjustment, reflecting the complex interplay between social values and economic activities.

Question 4

The social responsibility of business towards the owners of business includes

Accepted Answer

The social responsibility of business towards the owners includes ensuring maximum Return on Investment (ROI), reporting about the progress of the business, and providing reports of profit. These responsibilities ensure transparency, accountability, and the pursuit of maximizing shareholder value.

Question 5

CSR that extends beyond legal mandates can help meet social expectations in the absence of:

Accepted Answer

CSR (Corporate Social Responsibility) that extends beyond legal mandates often aims to meet social expectations through voluntary actions, not just through compliance with laws or regulations. Statutory devices refer to legal or regulatory frameworks, so in their absence, companies might use CSR to address social expectations.

Question 6

The relationship between standards of CSR & potential legal requirements governing corporate operation lies at the heart of the

Accepted Answer

The answer of The relationship between standards of CSR &...

Question 7

The argument for CSR involves

Accepted Answer

The argument for Corporate Social Responsibility (CSR) encompasses recognizing moral obligations by businesses, the need to balance power with responsibility, and the belief that voluntary actions by companies can prevent more stringent government regulations. These elements collectively support the comprehensive approach to CSR.

Question 8

The spending on CSR activity is mandatory in India for following organisations:

Accepted Answer

In India, the Companies Act, 2013 mandates that companies with a net worth of INR 500 crore or more, or an annual turnover of INR 1000 crore or more, or a net profit of INR 5 crore or more during any financial year must spend at least 2% of their average net profits made during the three immediately preceding financial years on Corporate Social Responsibility (CSR) activities.

Quiz 3: Social Responsibility and Business Ethics