How does the text define ethics?
a. a moral code adopted by each person--and the actions taken under that code--with
respect to those it will affect
b. the quality of intention a person takes into each decision with respect to those whom the decision will affect
c. the actions a person takes to determine if they improve or lessen the quality of life for the community
d. the set of principles a person uses to determine whether an action is good or bad
d. the set of principles a person uses to determine whether an action is good or bad
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What belief is held by Theory X managers?
a. The average employee likes work. b. employees should be self-directed. c. Employees prefer to not be told what to do. d. Employees value job security above all else.
Which of the following is true according to the authors?
a. Leadership qualities and behaviors are primarily genetic-based. b. Leadership qualities and behaviors cannot be learned. c. Leadership qualities and behaviors can be learned and developed to a large degree throughout one’s lifetime. d. none of these
The last step in the accounting cycle is to
a. prepare a post-closing trial balance. b. journalize and post closing entries. c. prepare financial statements. d. journalize and post adjusting entries.
Jed sells an office building during the current year for $800,000. The building was purchased in 1980 for $350,000. Jed had depreciated the building under an accelerated method, but it is now fully depreciated. Jed has never had any other Sec. 1231 transactions.a.What is the recognized gain or loss on the sale of the building and the character of the gain?b.How will the gain be taxed?c.Assume the building was purchased in 1981 and depreciated under ACRS. How will the gain be taxed?
What will be an ideal response?