Ethics in Accounting and Finance
Consequentialism is an ethical theory that determines the rightness or wrongness of actions based on their outcomes or consequences. It emphasizes that the moral value of an action is contingent upon its ability to produce favorable results, often linked to the greatest good for the greatest number. This approach significantly influences ethical decision-making frameworks and aligns closely with utilitarianism, which is a specific form of consequentialism that focuses on maximizing overall happiness.
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