In Business and Elsewhere, Your Only Moral Obligation Is to Act

question 56

True/False

In business and elsewhere, your only moral obligation is to act within the law.

---

Definitions:

Gain On Sale

The profit that results from selling an asset for more than its purchase price.

Net Income

The total earnings or profit of a company after all expenses and taxes have been deducted from total revenue.

Retirement Of Debt

The process of paying off or settling a debt obligation, either through periodic payments over time or a lump sum payment.

Accumulated Depreciation

The cumulative sum of depreciation costs recorded for a fixed asset since its initial use.