When You Have an Ethical Question and You Are Having

question 14

Multiple Choice

When you have an ethical question and you are having trouble making a decision, you should:

• A) consult with colleagues.
• B) take advice from an attorney.
• C) ask the ethics committee of the state branch of ACA.
• D) consult a licensing board.
• E) avoid describing your decision-making process in your case notes.

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Definitions:

Journalize

The process of recording transactions in a company's journal, detailing the financial activities and their impact on accounts.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Equipment

Durable assets used in the operation of a business, not intended for sale, that are used over time.

Journal Entry

A record in accounting that represents a transaction in the books of account, consisting of debits and credits.