Which action demonstrates proper handling of a conflict of interest when offered a gift tied to a decision?

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A conflict of interest arises when a gift tied to a decision could influence your judgment. The best action is to decline the gift and report the offer to compliance, and disclose it as required. Declining removes the potential for undue influence, and reporting plus disclosure creates a clear record so the organization can assess and manage the risk. This combination demonstrates transparency, adherence to policy, and preserves trust in the decision-making process. Accepting the gift could bias the outcome; declining but proceeding leaves the issue unaddressed and questionable; keeping the gift and not disclosing hides the potential influence and violates ethical and compliance standards.