ACCA BT · Chapter 4 · Question 8 of 11
A company voluntarily funds a scholarship scheme for students from deprived areas, even though it has no legal obligation to do so and gains no direct commercial benefit. In Carroll's framework, this is an example of which responsibility?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Philanthropic
Explanation
Philanthropic responsibilities are discretionary activities that contribute to society, such as donations and community programmes, and are desired rather than expected. Ethical responsibilities concern acting fairly and avoiding harm beyond legal requirements, legal responsibilities concern compliance with the law, and economic responsibilities concern profitability.
More Corporate governance and social responsibility MCQs
- Q10A listed company's remuneration committee is designing an incentive scheme for executive directors. Which feature would best align…
- Q11The 'triple bottom line' approach to reporting performance focuses on which three areas?
- Q1The need for corporate governance arises mainly from which of the following?
- Q2Which of the following is the most important role of independent non-executive directors on a company's board?
- Q3Which board committee is normally responsible for monitoring the integrity of the financial statements and overseeing the relationship…