What term describes the obligation of an individual or organization to account for their actions?

The correct term that describes the obligation of an individual or organization to account for their actions is "Accountability." This term emphasizes the duty to explain, justify, and take responsibility for one’s decisions and actions, particularly in a business context. When a person or organization is held accountable, they are expected to be answerable to stakeholders and uphold standards of integrity and ethical behavior.

Accountability implies not only being responsible for actions but also involves the systems in place that ensure individuals or organizations can be assessed for their performance and decision-making. This concept is integral in promoting trust and transparency within organizations, as it encourages leaders and employees to act with integrity and maintain ethical standards.

In contrast, while "Responsibility" involves the obligation to perform tasks or duties, it does not inherently include the aspect of answering for those duties. "Liability" usually relates to legal obligations or potential financial repercussions resulting from actions taken, and "Transparency" refers to the clarity and openness of communication about actions and decisions, rather than the obligation to account for them. Thus, "Accountability" is the most precise term in this context.