The Notion of ________, an Ethical System, Is Similar to Adam

question 33

Multiple Choice

The notion of ________, an ethical system, is similar to Adam Smith's concept of the invisible hand in business.

• A) utilitarianism
• B) universalism
• C) egoism
• D) relativism
• E) humanitarianism

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Definitions:

Beginning Inventory

The value of a company's inventory at the start of an accounting period, carried over from the end of the previous period.

Days In Inventory Ratio

A financial metric indicating the average number of days a company holds inventory before selling it, calculated as inventory divided by cost of goods sold, then multiplied by 365 days.

Average Inventory

An accounting measure used to estimate the value of inventory over a certain period by averaging the beginning and ending inventory levels.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.