Ethical principles can change over time.
Answer the following statement true (T) or false (F)
True
Ethical principles also can change over time. For example, some years ago, doctors and lawyers who advertised their services were considered unethical. Today, such advertising is accepted as common practice.
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Health Food Inc. coordinates the purchase, sale, and delivery of organic products. The stated corporate purpose is to make a profit and to have a material positive impact on society and the environment. Health Food is
A. a nonprofit corporation. B. not a corporation. C. a benefit corporation. D. a private corporation.
As an incentive to work efficiently, some organizations pay production workers ________, a wage based on the amount they produce.
A. merit pay B. a sales commission C. standard hour pay D. a special bonus E. a piecework rate
Which of the following is not true of the chart of accounts?
a. Asset accounts usually are listed first; b. Account numbering should follow a random pattern; c. The list contains the accounts used by the business; d. Accounts are arranged according to the accounting equation; e. More accounts can be added later.
Adding together the ending merchandise inventory and cost of goods sold gives the cost of goods available for sale
Indicate whether the statement is true or false