Final answer:
The true statement that corporate citizenship encompasses the legal, ethical, economic, and voluntary responsibilities of businesses highlights the wide-ranging impact of corporations on stakeholders and society.
Step-by-step explanation:
The statement that corporate citizenship is the extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders is true. Corporate entities hold a significant role in modern economies and their actions impact a wide variety of stakeholders, including owners, employees, customers, and the broader community. It is argued that the legal rights granted to corporations come with moral obligations that are not only legal but also ethical and social in nature. These responsibilities span from obligatory compliance with laws and regulations, such as paying taxes and obeying labor standards, to adopting voluntary practices that exceed mere compliance, like environmental stewardship and community engagement. The current discussion around corporate citizenship reflects the idea that businesses should balance their profit-making activities with a commitment to the welfare of their stakeholders and society at large.