An agreement by an agent to accept a 10% commission from a seller who will sell goods to the agent's employer is ethical so long as the agent would have chosen that seller anyway
Indicate whether the statement is true or false
FALSE
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On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning inventory of $228,350. Inventory purchased during April (until the date of the tornado) was $199,400. Sales for the month of April through April 24 were $644,100. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado.
A. $322,050 B. $213,875 C. $105,700 D. $158,588 E. $216,350
In regards to extraordinary items, which of the following statements is not correct?
A) Losses due to lawsuits do not qualify as extraordinary. B) An extraordinary gain is reported the same as a loss - net of the income tax effect. C) Taking of a company assets by a foreign government are generally considered to be extraordinary items. D) Extraordinary items are reported separately from continuing operations because of their infrequent and unusual nature.
Provident Medical Health Center asks its employees, many of which are members of the American Nurses Association, to apply the utilitarian theory of ethics. This theory does not require?? A)?a choice among alternatives to produce the maximum societal utility
B)?a determination of whom an action will affect. C)an assessment of the effects of alternatives on those affected.? D)?the acquiring of the means of production by workers.
The structure of a pay plan
A. influences the degree to which employees are motivated to perform well. B. determines the extent to which the Pygmalion effect affects employees' motivation. C. decides the specific roles of a supervisor. D. enables supervisors to rate employee performance.