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Which of these statements is true of professional codes of ethics?Multiple ChoiceThey do not have to be too detailed.They are informal rules and standards.They do not have to provide any guidelines and principles.They should only be developed by the board of directors of a firm.They should take into account every ethical situation possible.

Question

Which of these statements is true of professional codes of ethics?Multiple ChoiceThey do not have to be too detailed.They are informal rules and standards.They do not have to provide any guidelines and principles.They should only be developed by the board of directors of a firm.They should take into account every ethical situation possible.

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Solution

The statement that is true of professional codes of ethics is: "They should take into account every ethical situation possible."

Professional codes of ethics are designed to provide guidelines and principles for professionals to follow in their work. They are typically detailed and formal, not informal. They are not solely developed by the board of directors of a firm, but often involve input from various stakeholders. While it may not be possible to anticipate every ethical situation, the goal of these codes is to cover as many potential ethical issues as possible.

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