Statement-I: Ethical principles tend to be broader than legal principles. Statement-II: Laws and ethics are closely related. Codes:
Both the Statements are correct.
Both statements compare ethics with law, and each must be judged separately.
Statement-I says ethical principles tend to be broader than legal principles. This is correct: the law lays down a minimum, enforceable standard of conduct, but there are many acts that are perfectly legal and yet widely regarded as unethical. Ethics therefore covers a wider field of right and wrong than the law does.
Statement-II says laws and ethics are closely related. This is also correct: much legislation grows out of, and formally codifies, the shared ethical values of a society, so the two overlap a great deal and reinforce each other.
The two statements are consistent - ethics is broader than law, and at the same time the two are closely connected, since law is in large part ethics made enforceable.
Hence both the statements are correct.
Similar Questions
Assertion (A) : Bad corporate governance can cast doubt on a company's reliability.
Reasoning (R) : Companies that do not cooperate sufficiently with auditors can publish non-compliant financial results.
Code :
Which among the following are also called Corporate Social Responsibility ?
(a) Corporate Conscience
(b) Corporate Citizenship
(c) Responsible Business
Code :
Which one among the following is not a part of Corporate Social Initiatives ?
Which of the following is/are the component(s) of Ethics by field of interest ?
What is the right sequence of four psychological sub-processes in ethical action given by James Rest ?
CSR is important because :
Assertion (A) : Corporate behaviour towards stakeholders is an important concept in practice and a central part of corporate Governance.
Reason (R) : It has to be ethical, legal and responsible behaviour for organisation, stakeholders and society.
Code :
Which one of the following is not a principle of corporate Governance ?
Match the items given in the List - I and List - II and suggest the correct code :
List - I List - II (a) Ethics (i) Right code of behaviour for a group or profession (b) Morality (ii) Prescribes right conduct for everyone (c) Moral standard (iii) Needs some inclination to follow morality (d) Meta Moral Standard (iv) Practical and pragmatic Code :
Assertion (A) : When a corporation acts ethically and socially responsible in its business decisions and strategic planning, then the corporation will be more sustainable.
Reason (R) : Socially responsible corporate behaviour is increasingly seen as essential to long-term survival of companies.
Important Questions from Corporate governance and business ethics
Corporations are controlled and directed by which one of the following?
Which among the following is not a correct statement with regard to Corporate Governance in India ?
As per the Anglo-Saxon Model of Corporate Governance, the authority lies with the following. Arrange these in decreasing order of authority.
A. Board of Directors
B. Managers
C. Shareholders
D. Employees (Company)
E. Trade unions
Choose the correct sequence from the options given below
Assertion (A) : Corporate governance is an important instrument of investor protection.
Reason (R) : Strong corporate governance is indispensable to resilient and vibrant capital markets.
Which one of the following options is correct?
Which one of the following is not a norm of corporate governance ?
