Which of the following statements is true of the social responsibilities of a business?
A) A firm's ethical responsibilities go beyond its legal responsibilities.
B) Shareholders mandatorily require a firm to perform its ethical and philanthropic responsibilities.
C) Ethical responsibilities are the foundational building block of a firm's social responsibility.
D) Legal responsibilities are often subsumed under the idea of corporate citizenship, reflecting the notion of voluntarily giving back to society.

Question

Quizplus · Accepted Answer

A firm's ethical responsibilities go beyond its legal responsibilities. They embody the full scope of expectations, norms, and values of its stakeholders. Managers are called upon to do what society deems just and fair.

Which of the Following Statements Is True of the Social