Describe how values relate to ethics
What will be an ideal response?
Individually or organizationally, values determine what is right and what is wrong, and doing what is right or
wrong is what is meant by ethics. To behave ethically is to behave in a manner consistent with what is right or
moral.
While the internalized values of individuals are important, the organization has a major impact on the behavior of
its members and can have a positive or negative influence on their values. Staying committed to your values
increases your satisfaction with your decisions to do what is right and their results.
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Each of the following is a pay for performance approach, EXCEPT ______.
a. flexible spending accounts b. bonuses c. profit sharing d. stock options
Contribution margin represents the amount available to cover fixed expenses and then provide company profits.
Answer the following statement true (T) or false (F)
What type of business entity is a business organization providinglimited liability to its owners, but not taxed as a corporation, which is a cross between a sole proprietorship orpartnership and a corporation, having characteristics of each?
a. Limited partnership b. General partnership c. Limited liability partnership d. Limited liability company
Evaluation of the performance of an investment center involves only financial measures.
Answer the following statement true (T) or false (F)