Ethical Standards Are the Accepted Rules That Form the Framework

question 21

Multiple Choice

Ethical standards are the accepted rules that form the framework of what type of relationship between the legal professional and their clients?

• A) Fact-based
• B) Fiduciary-based
• C) Financially based
• D) Legally based

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Definitions:

Taxation

A process by which governments finance their expenditure by imposing charges on citizens and corporate entities.

Regressive Tax

A tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases, disproportionately impacting those with lower incomes.

Tax Revenues

The money that governments procure from tax collection.

Local Governments

Administrative bodies in smaller geographical areas within a country that govern at a level below that of the state or federal government.