According to the Textbook, What Does Ethics Refer To

question 66

Multiple Choice

According to the textbook, what does ethics refer to?

• A) correct behaviour for the situation at hand
• B) the right and wrong conduct of individuals and the institutions of which they are a part
• C) moral conduct as determined by the government and society
• D) laws governing orderly behaviour within society

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Definitions:

Variable Costs

Costs that change in proportion to the amount of goods produced or the volume of sales, like labor and materials.

Contribution Margin Ratio

The ratio that represents what percentage of sales contributes to the covering of fixed costs, calculated by subtracting variable costs from sales revenue and dividing the result by sales revenue.

Operating Income

Earnings from a company's core business operations, excluding revenue and expenses from non-operating activities like investments.

Variable Costs

Costs that vary depending on a company’s level of activity.