State whether following statements are true or false.

1) Businessmen are trustees of the society.
Ans:- True 

2) Business ethics is a code of conduct.
Ans:- True

 3) The commercial organization is expected to uplift the weaker section of society.
Ans:- True

 4) It is the responsibility of the commercial organizations to maintain industrial peace.
Ans:- True

5) Owners should not get complete and accurate information about the financial position.
Ans:- False

 6) The media does not play important role in public life.
Ans:- False

 7) Social responsibility is broader than the legal responsibility of business.
Ans:- True