According to Archie Carroll,the responsibility that management of a business organization has to produce goods and services of value to society so that the firm may repay its creditors and stockholders is called
A) legal responsibilities.
B) ethical responsibilities.
C) economic responsibilities.
D) financial responsibilities.
E) discretionary responsibilities.

Question

Quizplus · Accepted Answer

Economic responsibilities refer to the obligation of a business to produce goods/services that are valuable to society in order to generate profits that will enable the business to repay its creditors and stockholders. Legal responsibilities refer to the obligation of businesses to follow the laws and regulations set by the government, while ethical responsibilities refer to the moral obligations of businesses to behave in a socially responsible way. Financial responsibilities refer to the responsibility of businesses to manage their finances appropriately, and discretionary responsibilities refer to the voluntary actions that a business can take to have a positive impact on society.

According to Archie Carroll,the Responsibility That Management of a Business