Describe the difference between the law and ethics
Law provides for a set of rules for behavior. When these rules are broken, behavior is punishable. On the other hand, ethics presents a menu of options, perhaps disconnected from laws. Laws are "what a person must do," and ethics addresses "what a person should do.".
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During November, ABC, Inc purchased office supplies for cash. The supplies will be used in November. What effect does this purchase transaction have on the accounting equation?
a. Assets increase and stockholders' equity decreases. b. Assets increase and liabilities increase. c. Assets decrease and liabilities decrease. d. There is no effect on the accounting equation as one asset account increases while another asset account decreases.
The end of a presentation should be impactful, but it is not as important as the beginning
Indicate whether the statement is true or false.
Which of the following is not a business transaction?
A) Erin deposits $15,000 in a bank account in the name of Erin's Lawn Service. B) Erin provided services to customers earning fees of $600. C) Erin purchased hedge trimmers for her lawn service agreeing to pay the supplier next month. D) Erin pays her monthly personal credit card bill.
. ______ are followers who stand aside from their leaders.
Fill in the blank(s) with the appropriate word(s).