The Utilitarian View of Ethical Behaviour Is That Which

question 232

Multiple Choice

The utilitarian view of ethical behaviour is that which

• A) provides the greatest good for the greatest number of people.
• B) respects and protects the individual's fundamental rights.
• C) ensures that people are treated impartially and fairly.
• D) advances the pursuit of long-term self-interests.
• E) ensures the resolution of personal moral dilemmas.

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Definitions:

Closing Entry

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the books for the next period.

Selected Accounts

Accounts chosen for review or analysis, often for the purpose of financial reporting or auditing.

Normal Credit Balance

The expected positive balance of certain types of accounts in the double-entry bookkeeping system, such as liabilities, revenues, and equity accounts.

Sales Tax Payable

A liability account in the general ledger that accumulates the amount of sales tax collected from customers on behalf of local or state tax authorities, to be remitted in the future.