13When Conducting Research, It Is Critical to Adhere to the Highest

question 29

Essay

13.When conducting research, it is critical to adhere to the highest ethical standards. Describe the two ethical principles discussed in your text and why it is important to adhere to them.

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Definitions:

Net Income

The sum a company holds as profit once it has subtracted expenses and taxes from its aggregate revenue.

Net Sales

The amount of sales revenue left after deducting sales returns, allowances, and discounts.

Cash Basis

An accounting method where revenues and expenses are recorded only when cash is received or paid, respectively.

Earned Revenues

Income generated from the normal business operations after the delivery of goods or services to customers.