A situation where one relationship or obligation places the individual or firm in direct dispute with an existing relationship or obligation defines a _____.

Question

Quizplus · Accepted Answer

A conflict of interest arises when someone is faced with a situation where their interests or obligations may clash with one another. In business, this could involve a situation where an individual or firm must choose between their fiduciary duty to one client and their obligation to another client or their personal interests. This type of conflict can create ethical and legal risks, and it is essential that firms develop policies and procedures to address these situations proactively. The other options are not specific to this type of situation.

A Situation Where One Relationship or Obligation Places the Individual