Which of the following statements about codes of ethics are true?
A) All organizations are legally required to have and use a code of ethics.
B) Codes of ethics are formal statements of ethical principles and rules of conduct.
C) The existence of an ethical code is enough to ensure all employees act ethically.
D) Codes of ethics are unable to define ethical behavior when conflicts of interest exist.
E) All of the above statements about codes of ethics are true.
Answer: B