A code of ethics refers to
A. the written document stating the beliefs and values of each employee in a firm.
B. an informal guide of ethical principles and moral conduct.
C. a formal statement of moral and ethical business attitudes.
D. a firm's itemized list of business activities that are and are not consistent with the company's mission statement.
E. a formal statement of ethical principles and rules of conduct.
Answer: E
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Dissolution of a partnership
a. implies that the business operations will halt. b. occurs when there is any change in the members of the partnership. c. implies that the business cannot continue with a new group of partners. d. implies that the business cannot form a different ownership structure.
Dividends are a determinant of net income
a. True b. False Indicate whether the statement is true or false
Adam decided to play a practical joke on Linda, a co-worker. As Linda was leaving the office one night, Adam, wearing a mask, stepped out from behind some bushes. He pointed a handgun made out of licorice at her and demanded her purse. He then pushed the candy gun to her head and told her if she told anybody he'd kill her. Linda was very scared during the whole incident. She did not think it was
funny when Adam pulled the mask off and took a bite out of the gun as he gave her the purse back. Which statement is correct? a. Adam committed an assault but not a battery. b. Adam committed a battery but not an assault. c. Adam committed an assault and a battery. d. Adam committed neither an assault nor a battery since he used a candy gun and was only playing a joke on Linda.
Lyn is injured when she is struck by debris floating on her property flooded by a breach of Mining Company's reservoir. The rule that a person who engages in certain activities may be liable under the doctrine of strict liability for any harm that results was established in
A. Lyn v. Mining Co. B. Palsgraf v. Long Island Railroad Co. C. Rylands v. Fletcher. D. Congress.