Employees Who Report Illegal or Unethical Behavior on the Part

question 66

Multiple Choice

Employees who report illegal or unethical behavior on the part of others are known as

• A) stakeholders.
• B) whistleblowers.
• C) moral relativists.
• D) retaliators.
• E) outside directors.

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Definitions:

Salaries Payable

A liability account that records the amount of salaries owed to employees but not yet paid.

Accrued

Income earned or expenses incurred before cash has been exchanged, often recognized in the accounting process.

Insurance Policy

A legal contract between an insurer and the insured, outlining the terms, coverages, premiums, and conditions under which the insurer agrees to compensate the insured.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.