Chapter 17: Social responsibility of business — Online MCQ Test
COMMERCE · CLASS 11th · Tamil Nadu State Board
Practice Chapter 17: Social responsibility of business with a free chapter-wise online MCQ test.
This chapter covers: This chapter examines corporate social responsibilities towards stakeholders like owners employees consumers and society. Students evaluate ethical duties environmental protection....
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Chapter 17: Social responsibility of business — Important Questions & Answers
Social responsibility of business refers to the obligation of a business to:
- A. Maximize profit only
- B. Protect and improve the welfare of society
- C. Follow only government rules
- D. Minimize costs of production
Answer: B. Protect and improve the welfare of society
Social responsibility involves the duty of a business to contribute to the welfare of society beyond mere profit-making.
Social responsibility involves the duty of a business to contribute to the welfare of society beyond mere profit-making.
Which of the following is a primary stakeholder group for a business?
- A. Competitors
- B. Government
- C. Employees
- D. Media
Answer: C. Employees
Employees are internal stakeholders who are directly impacted by the business's operational decisions.
Employees are internal stakeholders who are directly impacted by the business's operational decisions.
Which of the following is NOT a responsibility of a business towards the government?
- A. Payment of taxes honestly
- B. Adhering to laws and regulations
- C. Providing jobs to politicians
- D. Contributing to national development
Answer: C. Providing jobs to politicians
Providing jobs to specific political figures is not a social or ethical responsibility of a business.
Providing jobs to specific political figures is not a social or ethical responsibility of a business.
Compare the responsibility towards 'Owners' vs 'Society' in a business context:
- A. Owners prioritize long-term sustainability while society prioritizes dividends
- B. Owners focus on financial returns while society focuses on public welfare
- C. Both have identical goals
- D. Society is responsible to owners
Answer: B. Owners focus on financial returns while society focuses on public welfare
The primary responsibility to owners is financial growth, whereas society expects ethical practices and welfare.
The primary responsibility to owners is financial growth, whereas society expects ethical practices and welfare.
Which of the following scenarios is an example of ethical conduct in business?
- A. Selling expired goods if they are not harmful
- B. Disclosing true information about product side effects
- C. Bribing government officials to speed up permits
- D. Hiding production costs to manipulate prices
Answer: B. Disclosing true information about product side effects
Transparency and honesty with consumers regarding product features reflect high ethical standards.
Transparency and honesty with consumers regarding product features reflect high ethical standards.