A demonstration of social responsibility by a business is the payment of

Assessment: JAMB UTME - Commerce - 1994 Subject: Commerce

Question 1 Report

A demonstration of social responsibility by a business is the payment of
Answer Details
A demonstration of social responsibility by a business is the payment of taxes to government. When a business pays taxes to the government, it is fulfilling its obligation as a responsible corporate citizen. The taxes paid by businesses help to fund public goods and services, such as roads, schools, hospitals, and security, which are necessary for the well-being and development of the society. By paying taxes, businesses contribute to the economic growth and stability of the country, and help to promote social welfare. Therefore, the payment of taxes is often seen as an indicator of a business's commitment to its social responsibilities.

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