Fine-Tuning the Rules of Rule Utilitarianism

question 17

Multiple Choice

Fine-tuning the rules of rule utilitarianism,

• A) increases the number of situations in which overall utility is promoted by following the rules.
• B) makes rule utilitarianism work more like act utilitarianism.
• C) Both of the above
• D) Neither of the above

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Definitions:

Adjusting Entry

Financial records established at the conclusion of an accounting term to assign earnings and costs to the period they truly belong.

Insurance Expense

The cost incurred by a business or individual for purchasing insurance policies to protect against potential losses or liabilities.

Prepaid Insurance

An asset account that represents insurance expenses paid in advance and is recognized as an expense over the period the insurance contract covers.

Accrued Revenues

Revenues that have been earned but not yet received in cash or recorded at the statement date, often due to the provision of goods or services before payment.