___________Ethics Involves a Level of Ethical Functioning at the Minimum

question 3

Multiple Choice

___________ethics involves a level of ethical functioning at the minimum level of professional practice.

• A) Mandatory
• B) Minimal
• C) Positive
• D) Aspirational

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Definitions:

Reasonable Assurance

An acceptable level of certainty provided by internal controls intended to minimize errors and fraud in financial reporting.

Monthly Cash Expenses

The total outlay of cash by a business in a month, including all operating expenses, payments, and purchases.

Cash Balance

The amount of cash held by a business at any point in time, reflecting its immediate liquidity position.

Ratio

A ratio is a quantitative relationship between two numbers, showing how many times the first number contains the second or how the two numbers compare.