Which of the Following Is a Similarity Between Ethical and Legal

question 55

Multiple Choice

Which of the following is a similarity between ethical and legal systems?

• A) Both systems are institutions of the state.
• B) In both systems, the motivation to observe moral values comes from within an individual.
• C) Both systems are based on utilitarian views.
• D) Both systems consist of rules to guide conduct and foster social cooperation.
• E) In both systems, ethical behavior is based on just meeting minimum legal requirements.

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Definitions:

Conversion Cost

The sum of labor and overhead expenses incurred to convert raw materials into finished products.

Mixing Department

A production area focused on combining various materials or components to create a product.

First-In, First-Out

An inventory valuation method in which the goods first acquired are the first to be sold, assuming costs rise over time.

Weighted-Average Method

An inventory costing method that assumes goods are interchangeable and calculates the cost of ending inventory and the cost of goods sold based on the average cost of all similar items.