Companies Are Legally Required to Have Written Codes of Ethics

question 67

True/False

Companies are legally required to have written codes of ethics.

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Definitions:

Closely Held Corporation

A corporation owned by a limited group of people. Its stock is not traded publicly.

Ownership

refers to the state or fact of possessing something, which typically bestows upon the owner the right to use, control, and dispose of the property.

Stock

Stock represents shares in the ownership of a company, entitling holders to a portion of the company's profits and assets.

Partnerships

A form of business agreement where multiple individuals jointly manage the operation and its profits.