The Blanchard and Peale three-part test for resolving ethical dilemmas consists of the following questions:
A) ?Is it legal? Is it ethical? Is it moral?

B) ?Is it legal? Is it balanced? How does it make me feel?
C) ?Is it ethical? Is it right? Does it pass the "front page of the newspaper" test?
D) ?Is it right? Is it balanced? Is it fair?


B

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Failure to record accrued interest expense would result in which of the following?

a. Assets being overstated b. Assets being understated c. Liabilities being overstated d. Liabilities being understated

Business

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Assume that Frank Company uses a perpetual inventory system.Increase = I Decrease = D No Effect = NA(Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element that is offset by a decrease in that same element.) Wetzel Co. paid $40 of freight cost to have merchandise shipped to one of its customers under terms FOB destination.AssetsLiabilitiesStk. EquityRevenuesExpensesNet IncomeStmt of Cash Flows???????

What will be an ideal response?

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One advantage of exponential smoothing is the limited amount of record keeping involved

Indicate whether the statement is true or false

Business

Sales representatives are often compensated, at least in part, on a percentage of the sales revenue. This percentage is known as a

A. commission. B. finder's fee. C. bonus. D. base salary. E. sales increment.

Business