What Is the Difference Between "Ethics" and "Business Ethics

question 29

Multiple Choice

What is the difference between "ethics" and "business ethics"?

• A) The former refers to beliefs about what is right and wrong, while the latter doesn't deal with right and wrong, only with economic issues.
• B) The former refers to a restricted range of acceptable behaviours, while the latter refers to a much broader range of acceptable behaviours.
• C) There are no differences between the two terms.
• D) The former refers to beliefs about what is right or wrong, while the latter refers to behaviours by managers or employees.
• E) The former refers to the actions of government employees, while the latter refers to the actions of employees in private-sector firms.

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Definitions:

Land Value

The market value of a piece of land, not including any buildings, improvements, or other structures on it.

Schedule K-1

A tax document used to report the income, losses, and dividends of a partnership or S corporation's shareholders or partners.

Short-term Capital Gains

Profits from the sale of an asset held for one year or less, taxed at ordinary income tax rates.

Tax Treatment

Refers to the method or rules applied in determining how an item or situation is taxed, affecting the financial outcome.