Which of the Following Statements Reflects the Approach of a Principle-Based

question 59

Multiple Choice

Which of the following statements reflects the approach of a principle-based ethical tradition?

• A)Obey the law
• B)Ends justify the means
• C)Maximize the overall good
• D)Survival of the fittest

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Definitions:

Net Income

The amount of profit left after all operating expenses, taxes, and interest are deducted from total revenue.

Variable Cost

Expenses that are directly linked to the scale of production activity.

Fixed Cost

Costs that do not change with the level of output or sales in the short term, such as rent, salaries, and insurance.

Depreciation Expense

The portion of the total cost of a tangible asset that is charged as an expense in a reporting period, due to its reduction in useful life.