Final answer:
The incorrect statement about ethics is that they set forth minimum acceptable standards of behavior. Ethics are concerned with a much broader spectrum of moral principles guiding right behavior, including philosophical inquiries in metaethics, practical application in normative ethics, and specialized scenarios in applied ethics.
Step-by-step explanation:
The statement regarding ethics that is INCORRECT is 'Ethics set forth minimum acceptable standards of behavior.' Ethics is a discipline that goes beyond setting minimum standards; it involves the principles of good and right behavior, and asks deeper questions about the foundational values and principles underlying moral rules. Ethics involves metaethics, normative ethics, and applied ethics, each addressing different aspects of moral behavior, reasoning, and application.
Morality often refers to the specific norms, values, and beliefs people adopt, while ethics is the broader framework that examines where these morals come from and what they mean. Ethical behavior is not merely about following minimum standards, but acting in accordance with the underlying principles that guide moral conduct.
Businesses also adhere to ethics, often creating a code of ethics that reflects values beyond what laws and regulations require. A code of ethics in business sets out not only permissible and impermissible actions but also reflects a commitment to social and environmental goals.