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The costs of financial distress depend on the:
I.probability of financial distress;
II.corporate and personal tax rates;
III.magnitude of costs encountered if financial distress occurs
Utilitarianism
A theory in normative ethics holding that the best action is the one that maximizes utility, often defined as maximizing happiness and reducing suffering.
Greatest Good
A concept often associated with utilitarianism, suggesting that actions are right if they benefit the majority, promoting the most happiness or least harm.
Laws
The system of rules that are created and enforced through social or governmental institutions to regulate behavior and maintain order in society.
Monroe Doctrine
A principle of United States foreign policy established in 1823, asserting that any intervention by external powers in the politics of the Americas is a potentially hostile act against the US.
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