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

question 136

Multiple Choice

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

• A) 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.
• B) Identify the ethical issue, specify alternatives, consult the Code of Professional Conduct, and choose the solution which has the greatest benefit to the largest number of people.
• C) Identify the ethical issue, specify alternatives, assess the possible outcomes, and make the decision.
• D) Identify the ethical issue, consult an external auditor, and make the decision.

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Definitions:

Postnuptial Agreement

A written agreement made between spouses after marriage, outlining the distribution of assets in the event of divorce or separation.

Business Assets

Resources owned by a business, considered valuable and necessary for its operations and growth, which can be tangible or intangible.

Eminent Domain

The power of the state to expropriate private property for public use, with compensation for the property owner.

Economic Development

The process in which an economy grows or changes and becomes more advanced, specifically in terms of economic output, innovation, and improved living standards.