The term social objective refers to a business organization's responsibility towards society. It includes initiatives aimed at societal development, improving the standard of living, promoting education and health, and contributing to environmental and community well-being. In this question, ‘Bonfast Cement Ltd.’ is shown to be taking steps towards the upliftment and welfare of society by supporting seven villages through initiatives such as providing housing, schools, clean drinking water, and hygiene facilities. The company's commitment is further demonstrated by sending employees to check on the implementation of these services every 15 days. Such consistent and sustained support towards villages, without direct business gains, reflects a philanthropic and ethical approach to corporate responsibility. It goes beyond profit-making motives and aligns with the principles of Corporate Social Responsibility (CSR).
Why the other options are incorrect:
Final Answer: (B) Social objective
Simar, Tanvi, and Umara were partners in a firm sharing profits and losses in the ratio of 5 : 6 : 9. On 31st March, 2024, their Balance Sheet was as follows:
Liabilities | Amount (₹) | Assets | Amount (₹) |
Capitals: | Fixed Assets | 25,00,000 | |
Simar | 13,00,000 | Stock | 10,00,000 |
Tanvi | 12,00,000 | Debtors | 8,00,000 |
Umara | 14,00,000 | Cash | 7,00,000 |
General Reserve | 7,00,000 | Profit and Loss A/c | 2,00,000 |
Trade Payables | 6,00,000 | ||
Total | 52,00,000 | Total | 52,00,000 |
Umara died on 30th June, 2024. The partnership deed provided for the following on the death of a partner: