With Respect to Ethics, the Rights-Based Approach

question 13

Multiple Choice

With respect to ethics, the rights-based approach

• A) Suggests that auditors should always verify ownership of a client's material tangible assets.
• B) Is primarily concerned with equity and impartiality.
• C) Suggests that an individual's actions should not violate the rights of any individual.
• D) Recognizes that decisions involve trade-offs between costs and benefits.

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Definitions:

Constant

A value that remains unchanged throughout the scope of an equation, analysis, or experiment.

PQ

A notation commonly used in economics to represent the product of price (P) and quantity (Q), indicating the total revenue.

GDP

Gross Domestic Product, the total value of all goods and services produced within a country in a given period.

Trade Deficit

A situation where a country's imports exceed its exports over a given period, leading to more money leaving the country than coming in.