Normative Ethics Focuses On

question 17

Multiple Choice

Normative ethics focuses on:

• A) How people normally behave
• B) How people have been observed to behave, based on one or more empirical studies
• C) How people should behave
• D) The conduct of accountants that is most prevalent in their profession

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Definitions:

Liabilities

Liabilities are financial obligations or debts that a business has to pay back in the future, such as loans, accounts payable, and mortgages.

Assets

Refers to resources owned by a company or individual that have economic value and can provide future benefits.

Financial Theory

The study of economics that examines ways to manage and allocate financial resources, analyzing financial systems and markets.

Economics

The discipline within social science that examines the decision-making process of individuals, governments, companies, and countries in distributing resources to fulfill their desires and requirements.