Assertion (A) Social audit has been defined as a commitment to systematic assessment of and reporting in some meaningful, definable domain of the company's activities that have social impacts.
Reason (R) The Companies Act, 2013 has accorded statutory recognition of the social responsibility of a corporate entity and gives option to provide a percentage of profit for the purpose as per discretion of the board.
A. Both (A) and (R) are correct and (R) is the correct explanation of (A)
B. Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
C. (A) is correct, but (R) is not correct
D. (R) is correct, but (A) is not correct
Answer: Option C
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Related Questions on Values and Ethics in Management
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