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If a business uses part of its profit to develop the area where it operates,...

Commerce
JAMB 2023

If a business uses part of its profit to develop the area where it operates, the business is fulfilling its

  • A. marketing responsibilities
  • B. managerial responsibilities
  • C. economic responsibilities
  • D. social responsibilities
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Correct Answer: Option D
Explanation

Social responsibility means that individuals and companies must act in the best interests of their environment and society as a whole. It is also known as corporate social responsibilties.

Corporate social responsibility is a business model by which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts