The Highest Tier of Ethical Decisions,which Entails a Greater Ethical

question 3

Multiple Choice

The highest tier of ethical decisions,which entails a greater ethical commitment on the part of the decision-maker,is to

• A)obey the law
• B)consider whether the action would benefit both parties and be prudent,sound,and wise
• C)consider whether the well-being of affected parties would be enhanced even if it requires a sacrifice by the decision-maker
• D)obey the law as well as cultural mores

---

Definitions:

FMV (Fair Market Value)

The price that an asset would sell for on the open market between a willing buyer and seller.

Nature Of Gain

Refers to the type of profit obtained from various transactions, such as the sale of property, which affects how the gain is taxed.

Bankrupt

The legal status of a person or organization that cannot repay the debts it owes to creditors, typically resulting in court intervention and the distribution of assets to creditors.

Worthless Stock

Shares that have lost all market value, often due to the company's bankruptcy, possibly eligible for tax deduction as a capital loss.