Which of the Following Is True About Ethics

question 21

Multiple Choice

Which of the following is true about ethics? 

• A) It is largely based on personal judgment. 
• B) It is applicable to business alone. 
• C) It is strongly looked down upon in society. 
• D) It is the basic structure of business.

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Definitions:

GASB Statement No. 68

A standard issued by the Governmental Accounting Standards Board that establishes accounting and reporting requirements for pensions by state and local governments.

Government's Liability

The obligations that the government is responsible for, often stemming from borrowing, legal claims, or other financial commitments.

Defined Benefit Pension Plans

Retirement plans where the benefits that employees receive are calculated using formulas considering factors like salary history and tenure, rather than depending on investment returns.