The Process for Ethical Decision Making Begins with

question 85

Multiple Choice

The process for ethical decision making begins with

• A)defining the complete moral problem.
• B)developing an ethical framework and determining the economic outcomes.
• C)considering the legal requirements and evaluating the legal duties.
• D)understanding all moral standards and recognizing all moral impacts.
• E)proposing a convincing moral solution.

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Definitions:

Contribution Margin

The amount by which sales revenue exceeds variable costs of production, indicating how much contributes to covering fixed costs.

Variable Expenses

Costs that vary in proportion to changes in the level of activity or volume of production.

Contribution Format

A type of income statement format that separates fixed and variable costs, helping in determining the contribution margin of sold goods or services toward fixed costs and profits.

Management Performance Appraisals

The systematic evaluation of the performance of managers and the effectiveness of their leadership in achieving business objectives.