Which of the Following Is True of Business Ethics

question 24

Multiple Choice

Which of the following is true of business ethics?

• A) The descriptive dimension of business ethics evaluates the degree to which the observed customs,attitudes,and rules of a business are ethical.
• B) Business ethics should ideally not reflect the ethical concepts of the society within which an organization functions.
• C) The normative dimension of business ethics is a summation of the customs,attitudes,and rules that are observed within a business.
• D) Business ethics should not be applied as a separate set of moral standards or ethical concepts from general ethics.

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Definitions:

Capital Account

A financial statement that shows the changes in a company’s equity throughout a period, from investments, withdrawals, and net income.

Recording a Bonus

The process of documenting an additional compensation given to employees or stakeholders, over and above their regular earnings.

New Partner

An individual who joins an existing partnership, bringing in fresh capital or skills and sharing in the business's profits and losses.

Historic Cost

The original monetary value of an asset or transaction at the time it occurred, without adjustments for inflation or other factors.