________ are broadly applied social standards for what is right or wrong in a particular situation, or a process for setting those standards. They differ from ________, which are individual and personal beliefs for deciding what is right and wrong.

Fill in the blank(s) with the appropriate word(s).


Ethics

Business

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Cash is another term for retained earnings

Indicate whether the statement is true or false

Business

A product is priced FOB destination, which means:

A. title of goods passes to customer when they are loaded on the shipping vehicles. B. freight over a basic fee is paid at the destination. C. the seller pays the shipping costs. D. the buyer pays the shipping costs. E. the buyer and seller share the shipping costs equally.

Business

Product development strategies require creation of new markets

Indicate whether the statement is true or false a. True b. False

Business

In the Excel spreadsheet approach in Appendix 10B in the text, each variance has its own clearing account that appears on the right-hand side of the "=" sign. This enables us to record all favorable variances as increases to their respective clearing accounts and all unfavorable variances as decreases to their accounts.

Answer the following statement true (T) or false (F)

Business