Ethics Refers To

question 72

Multiple Choice

Ethics refers to:

• A) Correct behavior.
• B) Right and wrong conduct of individuals and institutions of which they are a part.
• C) Moral conduct as determined by the government and society.
• D) Laws governing society.
• E) All of the above are correct.

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Definitions:

Certificate of Limited Partnership

A legal document filed with a governmental body to form a limited partnership.

Oral Agreement

A contract that has been agreed to by speaking rather than in writing. Although legally binding, they are often harder to prove in court.

Winding Down

The process of gradually reducing operations or activities in a business, often in preparation for its closure.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when managing assets or financial matters.