Suzette is a bank manager charged with determining which employees are downsized. Her only guidelines are to keep those employees who contribute the most to the overall organization. When the list of employees downsized is presented, none of her personal friends are on it. This might be viewed as ________ behavior.
A. rational
B. organizational
C. unbiased
D. illegal
E. unethical
Answer: E
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The accountant posts monthly from the Accounts Payable Debit column of the cash payments journal to the individual suppliers' accounts in the accounts payable ledger
Indicate whether the statement is true or false
Which of the following is not a cost that is accumulated in Work in Process?
a. Direct materials b. Administrative expense c. Direct labor d. Factory overhead
The following data were taken from the accounting records of Li Company at December 31, Year 1. All adjustments have been recorded. The closing entries have not been recorded.
Required:a) List the accounts that should be closed at the end of Year 1.b) Prepare an income statement for Li Company for Year 1.c) Determine the balance in retained earnings after closing entries have been recorded.
What will be an ideal response?
One area of U.S. tort cases of concern to international businesses is that they
A. can result in large monetary awards. B. often continue for years and can result in exorbitant legal fees. C. may result in personal embarrassment to corporate officers and require apologies. D. often lead to malfeasance claims against the business.