In Becoming an Ethical Practitioner, It Is Important To

question 22

Multiple Choice

In becoming an ethical practitioner, it is important to:

• A) learn how to arrive at clear-cut answers for difficult situations.
• B) identify a specific ethical code as the source of answers to ethical dilemmas.
• C) exercise careful judgement when it comes to interpreting and applying ethical principles to specific situations.
• D) avoid making any mistakes in counselling practice.

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Definitions:

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the value of the business's reputation, brand, and other non-physical assets.

Acquisition Differential

The difference between the cost of acquiring an entity and the fair value of its identifiable net assets.

Voting Shares

Shares that give the stockholder the right to vote on matters of corporate policy making and the election of the board of directors.

Impairment Loss

A charge recognized when the carrying amount of an asset exceeds its recoverable amount, indicating a permanent reduction in the valuation of a company's asset.