Felista Inc., a company which deals in dairy products, adheres to a standard of behavior for its employees, and follows certain practices that reflect the moral principles and values held by the company, and guide the conduct of the individuals in the company. Which practice is described in this scenario?
A. Business ethics
B. Corporate governance
C. Principles of management
D. Rules and regulations
Answer: A
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The principal financial statements of a corporation are the balance sheet, income statement, and statement of cash flows
Indicate whether the statement is true or false
The statement of stockholders' equity ________.
A) reports the number of shares and any changes during the year in preferred, common, and treasury stock B) is required to be presented along with the statement of retained earnings C) is not required by IFRS D) does not show the changes to the Retained Earnings account because that information is provided in the statement of retained earnings
The Alaska Fish Company completed the flexible budget analysis for the second quarter, which is given below.
Which of the following statements would be a correct factor to explain the sales volume variance for operating income?
A) decrease in sales price per unit
B) increase in variable cost per unit
C) increase in sales volume
D) increase in fixed costs
Comparing activity-based management (ABM) and lean operations, all of the following are correct except
a. both identify value-adding and nonvalue-adding activities. b. ABM uses a more complex accounting system. c. both are activity-based systems. d. JIT focuses on the accuracy of cost assignment.