Vector Corporation Has Been Using an Incorrect Method in Accounting

question 21

True/False

Vector Corporation has been using an incorrect method in accounting for supplies expense.It can change to the correct method without filing 3115.

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Definitions:

Ethical Relativism

The belief that morality varies between individuals and cultures and that there are no universal moral principles.

Cultural Relativism

The belief that a person's beliefs, values, and practices should be understood based on that person's own culture, rather than be judged against the criteria of another.

Ethical Absolutism

The ethical belief that there are absolute standards against which moral questions can be judged, and that certain actions are right or wrong regardless of the context of the act.

Individual Relativism

The philosophical idea that ethical beliefs and values are relative to the individual's subjective preferences.