Which of the Following Statements About Ethics Is False

question 18

Multiple Choice

Which of the following statements about ethics is false?

• A)Ethics may be defined as a system of right and wrong.
• B)Ethics assists individuals in deciding when an act is moral or immoral.
• C)Ethics is not concerned with whether or not an act is socially desirable.
• D)Business ethics is the application of ethical standards to commercial enterprises.

Understand the accounting treatment of unrealized gains on available-for-sale securities.

Identify the key components and purpose of consolidated financial statements.

Describe the characteristics and implications of various investment types and related accounts.

Interpret the impact of year-end adjustments on trading securities for financial statements.

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Definitions:

After-Tax Dollar Value

The net value of an investment, income, or transaction after accounting for the effects of income taxes.

Realized Profits

The gains earned and received from the sale of assets or investments.

Tax Rate

The rate at which a person or company is taxed by the state.

Unrealized

Referring to profits or losses that have occurred on paper due to changes in the value of assets or investments but have not been actualized through a sale or transaction.