Which Ethical Principle States That, When Confronted with an Ethical

question 51

Multiple Choice

Which ethical principle states that, when confronted with an ethical dilemma, individuals should take the action that achieves the greater value for all of society?

• A) the Golden Rule
• B) Risk Aversion
• C) the Collective Utilitarian principle
• D) the Social Contract Rule

Analyze the effects of accounting transactions on the trial balance.

Prepare closing entries from given financial information.

Distinguish between adjusting entries and reversing entries.

Recognize the situations where reversing entries are applicable.

---

Definitions:

Wholesale Nursery

A business specializing in growing plants in bulk for sale primarily to retailers, landscapers, and other businesses, rather than directly to the public.

Retail Outlets

Stores or shops that directly sell goods or merchandise to consumers.

Seasonal Nature

The characteristic of certain processes, businesses, or industries that experience regular and predictable changes that recur every calendar year.

Cash Cycle

The cash cycle is a period between the outlay of cash for the purchase of inventory and the receipt of cash from customer sales, measuring the efficiency of a company's cash management.