Which term is used to describe the set of moral principles that guide behavior in business?

• A. Values
• B. Ethics
• C. Standards
• D. Code

Answer: (B)

Ethics is the set of moral principles that guide behavior in business. It covers what is considered right or wrong in decisions, how to treat stakeholders, and what standards of fairness and responsibility a company should uphold. Values are personal beliefs about what matters, which shape ethical views but ethics itself is the broader framework organizations apply across situations. Standards describe specific levels or criteria for performance, not the overarching moral guide. A code is usually a formal document that spells out expected ethical rules for employees, making ethics actionable, but the core idea remains the ethical framework that informs behavior.