____ refers to the idea that morality varies from one culture to another and that business practices are therefore differentially defined as right or wrong by particular cultures.
A. The self-reference criterion
B. Global ethics
C. Economic relativism
D. Cultural relativism
E. Moral relativism
Answer: D
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Which of the following statements is true?
A. Reputation of the supplier is a critical issue in an outsourcing decision. B. An outsourcing decision involves a purchase offer from a customer at a lower-than-normal selling price. C. Outsourcing decreases the extent of a company's vertical integration. D. Outsourcing decreases the extent of a company's vertical integration and the reputation of the supplier is a critical issue in an outsourcing decision.
Which of the following is not an application of accrual accounting?
a. Recording advertising fees earned at the time the work is done b. Adjusting unearned advertising fees to the proper balance at the end of the month c. Recording advertising fees earned at the time the cash payment is received d. Recording telephone expense in the accounting period covered by the monthly bill
Management accounting data may be gathered for small segments or large divisions and may be expressed in units of measurement other than historical dollars
Indicate whether the statement is true or false
Budgets are prepared in which of the following orders?
A) production budget, sales budget, direct labor budget B) production budget, cost of goods sold budget, direct labor budget C) sales budget, cash budget, production budget D) sales budget, production budget, direct materials purchases budget E) production budget, cash budget, direct materials purchases budget