Which of the Following Is Not True Regarding Ethics

question 92

Multiple Choice

Which of the following is not true regarding ethics:

• A)Ethics are beliefs that distinguish right from wrong.
• B)Good ethics are good business.
• C)Ethics do not affect the operations or outcome of a company.
• D)Are critical in accounting.
• E)Ethics are accepted standards of good and bad behavior.

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option available when a decision is made or an action is taken.

Pure Capitalism

An economic system characterized by private ownership of the means of production and where investments, distribution, income, production, and prices are determined by the market.

Owns No Resources

The condition of not having access to or control over any assets, capital, or means of production.

Production Possibilities Frontier

A curve that shows the different combinations of various goods that a country can produce given certain resources and technology.