Responsibility for Encouraging Ethical Decision Making and Ensuring Ethical Behavior

question 99

Multiple Choice

Responsibility for encouraging ethical decision making and ensuring ethical behavior in a firm lies

• A) only with a firm's strategists.
• B) only with a firm's managers.
• C) only with a firm's shareholders.
• D) with both a firm's strategists and its managers.
• E) with neither a firm's strategists nor its managers.

Understand the concept of consignment in inventory management.

Recognize the principles of consistency and full disclosure in inventory valuation.

Identify items that should or should not be included in merchandise inventory.

Distinguish the advantages and disadvantages of different inventory valuation methods.

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Definitions:

Government Purchases

Expenditures made by the government for goods and services that are necessary for the public sector and to support economic activity.

National Output

The total value of goods and services produced by a country's economy over a specific period of time. It's synonymous with gross domestic product (GDP).

Crowding-Out Debate

A discussion on how government borrowing or spending may lead to reduced investment in the private sector due to increased interest rates or other mechanisms.

Keynesians

Economists and theories following the principles of John Maynard Keynes, emphasizing the role of government intervention to moderate economic cycles.