Which of the following statements is true regarding business ethics and social responsibility? Companies can be both profitable and socially responsible. Businesses whose sole objective is to earn profit may not consider their social responsibility. The concerns of what is legal and ethical do not change over time. All actions deemed unethical by society are also illegal. The terms social responsibility and ethics should be used interchangeably.
At AgroCorp, each owner has unlimited liability for the debts of the business. It has several business units that focus on many product categories at once, which allowed the company to become a leader in category management in the agricultural market. AgroCorp is an example of a general partnership. strategic alliance. limited partnership. C corporation. joint venture.
Answer
Broadly speaking there are four responsibilities of the
business: to make profit; to act legally; to act ethically and to
benefit society. Therefore a business can be profitable as well as
responsible. The answer for this question is first option companies
can be profitable and socially responsible.
Unlimited liability of the partners is a characteristic of
partnership type of business. Therefore answer for this question is
first option general partnership
