Which of the Following Best Defines Ethics

question 109

Multiple Choice

Which of the following best defines ethics?

• A)moral standards and principles used to evaluate behavior
• B)truthful and validated statements and beliefs
• C)legal limits placed on personal practices
• D)universal and timeless values about what is good or bad

---

Definitions:

Spending Variance

The difference between the actual amount spent and the budgeted or standard amount expected to be spent.

Net Operating Income

Income before interest and income taxes have been deducted.

Flexible Budget Performance Report

A report that compares the actual performance of a business to a budget that adjusts with the level of activity, providing insight into variance reasons.

Flexible Budget Report

A financial report comparing actual results to a budget that adjusts based on the actual level of output or activity, allowing for more meaningful analysis.