BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Ethics is based on well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.

Detailed explanation-2: -Legal standards are those standards that are set forth in governmental laws. Ethical standards are based on the human principles of right and wrong. The differences between them are these: Legal standards are based on written law, while ethical standards are based on human rights and wrongs.

Detailed explanation-3: -The correct answer is true. Ethical principles in business are similar to ethical principles in general. They are not different because the definition of ethics cannot get differentiated through words. Ethics apply to everyone and define how business should be conducted.

Detailed explanation-4: -Ethics is a set of moral standards for judging whether something is right or wrong. A utilitarianism approach to setting personal ethical standards focuses on the consequences of an action taken by a person or organization.