Sophisticated Clients Who Are Starting a Business Should

question 48

Multiple Choice

Sophisticated clients who are starting a business should

• A) make a commitment to ethical behaviour and prepare a statement of values.
• B) only concern themselves with ethical behaviour that is required by law.
• C) consult a lawyer about how to engage in unethical behaviour undetected.
• D) refrain from reporting illegal or unethical behaviour.
• E) opt not to prepare a code of conduct because of potential liability exposure in the event of a breach.

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Definitions:

Price Level

The overall cost of goods and services expressed as an index, which helps to compare different periods' economic conditions.

Long-Run Aggregate Supply

The total amount of goods and services produced in an economy at full employment, unaffected by price levels in the long term.

Nominal Wage

The wage that is paid to workers in current dollars, without adjustment for inflation.

Capital Stock

The total amount of physical, human, and intellectual capital that a country possesses at any given time.