If one concurs with the school of ethical universalism, then one believes that 28) A) what is deemed right or wrong, fair or unfair, moral or immoral, ethical or unethical in business situations should be judged in light of local customs and social mores and can legitimately vary from one culture or nation to another. B) many basic moral standards travel well across cultures and countries and really do not vary significantly according to local cultural beliefs, social mores, religious convictions, and/or the circumstances of the situation. C) concepts of right and wrong as they apply to business behavior are purely based on an individual's understanding of ethics and differ from person to person. D) since ethical standards are subjectively determined, each company has a window within which it can define and implement its own ethical principles of right and wrong. E) each country should have some degree of latitude in setting its own ethical standards for judging the ethical correctness of business actions/behaviors within its borders.