The Theory of the ____________ Says That Right and Wrong

question 49

Multiple Choice

The theory of the ____________ says that right and wrong have no intrinsic value, but instead are determined by circumstance, situation, or even personal preference.

• A) ethical relativism
• B) realistic ethics
• C) social ethics
• D) market value ethics

---

Definitions:

Net Operating Income

An indicator of a firm's earnings derived from its primary, ongoing business activities, not taking into account the subtraction of interest and taxes.

Retained Earnings

The portion of a company's profits that is saved or retained for reinvestment in the business, rather than being paid out as dividends to shareholders.

Direct Labor

The wages and other payroll costs of the employees who directly produce goods or services.

Work in Process

Inventory that includes materials that have been partially completed but are not yet finished goods.