Give an account of the relationship between ethics and law
What will be an ideal response?
Ethics and the law are intertwined. Although much of the law is based on ethical standards, not all ethical standards have been enacted as law. The law establishes a minimum degree of conduct expected by persons and businesses in society. Ethics demands more. Sometimes the rule of law and the rule of ethics demand the same response by a person confronted with a problem. However, in some situations, the law may permit an act that is ethically wrong. Another situation occurs where the law demands certain conduct but a person's ethical standards are contrary.
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Leslie's Sunglass Company's western territory's forecasted income statement for the upcoming year is as follows
Sales revenue $850,000 Variable costs (520,000 ) Contribution margin $330,000 Fixed costs (480,000 ) Operating loss $(150,000 ) The company's management is considering dropping the western territory and has determined that $310,000 of the fixed expenses is avoidable. What is the change in Leslie's Sunglass Company's forecasted operating for the upcoming year if the western territory is dropped? Assume the company predicts an operating loss across the entire company. A) Operating loss will increase by $20,000. B) Operating profit will increase by $330,000. C) Operating loss will decrease by $20,000. D) Operating profit will decrease by $330,000.
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Indicate whether the statement is true or false