How are the corporate culture and ethics related in an organization?
What will be an ideal response?
The law can be ambiguous in determining if a business should make a reasonable accommodation for an employee with allergies, arthritis, dyslexia, hearing loss, or high blood pressure. In situations where the law is an incomplete answer for ethical decision making, the business culture is likely to be the determining factor in the decision. Ethical businesses must find ways to encourage, to shape, and to allow ethically responsible decisions. An ethical culture would be one in which employees are empowered and expected to act in ethically responsible ways even when the law does not require it.
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The ________ budget is used for areas of an organization that incur expenses but no revenue, such as human resources and other support departments.
A. production B. sales C. cash D. cost E. capital
Periodic and perpetual are examples of inventory costing systems
Indicate whether the statement is true or false
Which inventory pricing method best approximates specific identification in most manufacturing situations?
a. Activity-based costing b. FIFO c. Average cost d. LIFO
Income statements prepared under U.S. GAAP contain which of the following sections or categories, depending on the nature of a firm's earnings for the period?
a. income from continuing operations b. income, gains, and losses from discontinued operations c. extraordinary gains and losses d. all of the above e. none of the above