The Utilitarian Theory

question 36

Multiple Choice

The Utilitarian Theory:

• A) holds that we all act in our own self-interest.
• B) is based on doing the most good for the most people.
• C) resolves ethical dilemmas according to time and place.
• D) believes that solving ethical dilemmas requires training

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Definitions:

Dissolution

The official termination of an entity's existence, such as a corporation or partnership, through legal processes.

General Partner

A member of a partnership who has full liability for the debts of the partnership and participates in its management.

Limited Partnership

A partnership structure where at least one partner has limited liability for the debts and obligations of the business, while at least one other bears unlimited liability.

LLC

A Limited Liability Company; a hybrid business structure that combines the personal asset protection of a corporation with the tax benefits of a partnership.