According to ethical relativism, ________
A) ethics rely on duties based on universal rules one is morally bound to follow
B) each person is presumed to have entered into a social contract with all others in society to obey ethical rules
C) there are no universal ethical rules to guide a person's conduct
D) people must choose an action or follow a rule that provides the greatest good to society
C
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Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
Balance Sheet (Millions of $) Assets2016 Cash and securities$ 1,554.0 Accounts receivable9,660.0 Inventories 13,440.0 Total current assets$24,654.0 Net plant and equipment 17,346.0 Total assets$42,000.0 Liabilities and Equity Accounts payable$ 7,980.0 Notes payable5,880.0 Accruals 4,620.0 Total current liabilities$18,480.0 Long-term bonds 10,920.0 Total liabilities$29,400.0 Common stock3,360.0 Retained earnings 9,240.0 Total common equity$12,600.0 Total liabilities and equity$42,000.0 Income Statement (Millions of $)2016 Net sales$58,800.0 Operating costs except depr'n$55,274.0 Depreciation$ 1,029.0 Earnings bef int and taxes (EBIT)$ 2,497.0 Less interest 1,050.0 Earnings before taxes (EBT)$ 1,447.0 Taxes$ 314.0 Net income$ 1,133.0 Other data: Shares outstanding (millions)175.00 Common dividends$ 509.83 Int rate on notes payable & L-T bonds6.25% Federal plus state income tax rate21.7% Year-end stock price$77.69 Refer to the data for Pettijohn Inc. What is the firm's equity multiplier? A. 3.33 B. 3.50 C. 3.68 D. 3.86 E. 4.05
List three problems that inventory was meant to solve. How does the JIT producer handle these problems?
In negotiations, once both parties have presented their initial proposals, it is common for them to start bargaining with the:
A. Hardest issues first B. Easiest issues first C. Employer's issues first D. Union's issues first
Laid off employees who have been working in an employment covered by the Social Security Act may get unemployment insurance benefits for up to __________ weeks.
A. 20 B. 22 C. 24 D. 26