Which of the Following Statements Describes the Decision Guidelines for an Ethical

question 54

Multiple Choice

Which of the following statements describes the decision guidelines for an ethical decision?

• A)Identify the ethical issue,specify alternatives,assess the possible outcomes and make the decision.
• B)Identify the ethical issue,specify alternatives,consult the code of conduct and choose the solution which has the greatest benefit to the largest number of people.
• C)Identify the ethical issue,specify alternatives,calculate the gain or loss on each alternative solution and choose the solution with the smallest gain or highest loss.
• D)Identify the ethical issue,consult an external auditor and make the decision.

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Definitions:

Non-Priority

A designation for debts or considerations that are deemed less important and hence are lower in the order of settlement or attention compared to priority ones.

Total Liabilities

The sum of all financial obligations (debts) owed by a company to external parties, recorded on its balance sheet.

Unsecured

Refers to loans or debts that are not backed by collateral, relying on the borrower's creditworthiness instead.

Payroll Taxes Payable

Taxes owed to the government by an employer, based on employee wages, that have been incurred but not yet paid.