Which Term Refers to the Use of Commonly Held Principles

question 4

Multiple Choice

Which term refers to the use of commonly held principles and ethical rules that guide what we "ought" to do when making decisions about or for others?

• A) Principlism
• B) Principle
• C) Ageism
• D) Sexism

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Definitions:

Balance Sheet

A financial statement that shows a company’s assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.

Significant Influence

The power to participate in the financial and operating policy decisions of another entity, often reflected by ownership of 20% to 50% of the voting stock.

Fair Value Through Profit or Loss

A classification for financial instruments that are measured at fair value with changes recognized in profit or loss.

Shares

Units of ownership interest in a corporation or financial asset, representing a portion of the shareholder's stake in the company.