Question

Providing accurate and up-to-date information on the financial position of the company is a responsibility of business towards which interest group?​

Answer 1

Answer:

Shareholders or owners

Answer 2

It is the responsibility of business towards the shareholders.

• Shareholders must be given accurate information about the firm to be able to assess the company's genuine and fair status and make decisions about future investments.
• The firm must provide a reasonable return on their investment. If they do not receive a proper dividend, they will be hesitant to invest more money in the company.
• For a healthy corporate growth, shareholders should be kept fully informed about the company's operations.
• The Companies Act of 2013 mandates that companies provide complete information in their financial position as well as public announcements.
• At the same time, shareholders must provide the company their full support and cooperation in order to safeguard their own interests.