An Approach to Ethical Decision Making That States You Should

question 64

Multiple Choice

An approach to ethical decision making that states you should choose the action or policy that has the best overall consequences for all people who are directly or indirectly affected is the ____ approach.

• A) common good
• B) fairness
• C) utilitarian
• D) virtue ethics

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Definitions:

Purchased

Acquiring goods, services, or assets in exchange for money or its equivalent.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns that are equal.

Chart of Accounts

A structured list of all the financial accounts in an organization's general ledger, categorized by short and long-term liabilities, assets, revenue, and expenses.

Income Statement

A financial report that shows a company's revenues, expenses, and net income over a specific period of time.