Which is an accurate statement about the modern business corporation| The corpor
ID: 331352 • Letter: W
Question
Which is an accurate statement about the modern business corporation|
The corporation, once approved by the state and given a corporate charter, is a legal actor and artificial "person" endowed with legal and certain constitutional rights.
According to the traditional, conservative, Milton Friedman, organizational view of the corporation, it is only a legal actor and has no moral or social responsibility and just must obey the law and pay taxes.
A true corporate code of ethics today must have some provisions that go "above and beyond" the law; that is, an ethics code cannot be a mere "restatement" of the law.
All of the above.
a.The corporation, once approved by the state and given a corporate charter, is a legal actor and artificial "person" endowed with legal and certain constitutional rights.
b.According to the traditional, conservative, Milton Friedman, organizational view of the corporation, it is only a legal actor and has no moral or social responsibility and just must obey the law and pay taxes.
c.A true corporate code of ethics today must have some provisions that go "above and beyond" the law; that is, an ethics code cannot be a mere "restatement" of the law.
d.All of the above.
Explanation / Answer
Modern business corporation once approved by the state and given a corporate charger is a legal entry an artificial person endowed with legal and constitution al rights {most accurate} .
Milton Freidman organisational view of corporation was about Corporate Social Responsibility and not just being a legal actor. So not correct.
A true corporate code of ethics must have provisional to go beyond law hut not above law. Not accurate.
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