The Term Code of Standards Is Used in Lieu of "Code

question 71

True/False

The term code of standards is used in lieu of "code of ethics" to illustrate that the firm should go beyond traditional ethical issues.

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Definitions:

Internalized

The process of incorporating or taking within oneself, often used in economics to describe the absorption of external costs or benefits by an entity.

Negotiation

The process by which two or more parties communicate and ideally reach an agreement or compromise on a matter of mutual interest.

National Output

The total value of all goods and services produced within a country's borders in a given time period, often referred to as Gross Domestic Product (GDP).

Consumer Goods

Goods produced and purchased for personal or household consumption rather than for manufacturing or resale.