Examlex
What are the principles of lean accounting? Are there any limitations? Discuss.
Ethical Duty
A moral obligation to act in a manner that is considered to be right or virtuous, often guiding professional conduct and decision-making.
Legal Duty
An obligation recognized by law that requires an individual or entity to conform to a certain standard of conduct.
Maximizing Profits
The process of making the highest possible financial gain from business activities within the confines of the law and ethical practices.
Allocates Scarce Resources
The process of distributing limited resources among varying needs and wants in an efficient and effective manner.
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