Which of the Following Statements Is True of the Relationship

question 51

Multiple Choice

Which of the following statements is true of the relationship between law and ethics?

• A)All ethical actions are legal.
• B)An action may be within the law and still not be ethical.
• C)Legal actions are typically not treated as ethical actions.
• D)Ethical actions will not have legal implications.
• E)All legal actions are ethical.

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Definitions:

Discount Period

The timeframe within which a payment can be made at a discounted rate, often used in sales transactions to encourage early payment.

Gross Profit

The financial metric that represents the difference between sales revenue and the cost of goods sold, excluding other expenses and overhead.

Merchandise Sold

Goods that have been sold by a company, generating revenue; part of the sales process in a retail or wholesale environment.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including the cost of raw materials and labor.