Dave, a supervisor at a web design company, has a self-centric attitude toward work. He steals resources from work to sell them online for his own gains. In this scenario, which of the following dimensions of ethical behavior does Dave violate?
A. Fairness
B. Loyalty
C. Sincerity
D. Openness
Answer: B
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Consider a three-year fixed-payment security that has a present value of $1,000. If the annual rate of discount is 7 percent, the payment made at the end of each year is
A. $70.00. B. $107.00. C. $142.86. D. $381.05.
The return on total assets is calculated by dividing the net income for the year by the average total assets during the year
a. True b. False Indicate whether the statement is true or false
Which of the following statements regarding inflation and accounting is false?
a. The SEC requires U.S. companies to present supplemental financial information adjusted for the effects of inflation. b. Instability of the measuring unit that is the currency occurs in countries with rampant inflation. c. In some in Latin American and South American countries, companies have been required to adjust their financial statements to take into account the effects of inflation. d. The FASB developed rules for companies in the United States to use to adjust for inflation.
When inventory costs are declining, which of the following inventory costing methods will result in the highest cost of goods sold?
A) first-in, first-out B) last-in, first-out C) weighted-average D) specific identification