In a Business Context, Acting Ethically Is Generally Considered to Involve

question 32

Multiple Choice

In a business context, acting ethically is generally considered to involve:

• A) Acting in a morally correct and honourable way.
• B) Acting strictly in accordance with the law.
• C) Acting in the best interests of shareholders.
• D) All of the above.

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Definitions:

Malcolm Baldrige Foundation

A foundation that supports the Malcolm Baldrige National Quality Award, which recognizes U.S. organizations for their achievements in quality and performance.

U.S. Congress

The bicameral legislative body of the federal government of the United States, consisting of two houses: the Senate and the House of Representatives.

Period Costs

Expenses that are incurred on the income statement in the period in which they are incurred, such as selling, general, and administrative expenses, which are not directly tied to the production of goods.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, resulting in net profit or loss.