Future Business Leaders of America (FBLA) Entrepreneurship Practice Test

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What is the formal statement of what a business expects in the way of ethical behavior called?

  1. Business Policy

  2. Code of Ethics

  3. Employee Handbook

  4. Corporate Governance

The correct answer is: Code of Ethics

The formal statement of what a business expects in terms of ethical behavior is known as a Code of Ethics. This document serves as a guideline for employees and management, outlining the moral principles and standards of conduct expected within the organization. It typically addresses issues such as integrity, accountability, and respect, helping to create a culture of ethical behavior. A Code of Ethics functions to establish a clear framework for decision-making, ensuring that all members of the organization are aligned in their understanding of acceptable conduct. This can help prevent unethical behavior and protect the company’s reputation. It also provides a reference point for addressing ethical dilemmas that may arise in the workplace.

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