Which of the Following Is NOT a Potential Ethical Concern

question 3

Multiple Choice

Which of the following is NOT a potential ethical concern associated with group practice?

• A)Conflict between the best interest of group and best interest of individual members.
• B)Democratic group decision making.
• C)Conflict between group norms and values and those of society.
• D)Professional incompetence of worker.

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Definitions:

Gross Profit Method

A method of estimating the amount of ending inventory by applying the gross profit percentage to sales.

Inventory Shortage

The situation where the actual inventory on hand is less than what is recorded in the accounting records.

Inventory Count

The physical verification of the quantities and condition of items held in inventory, typically conducted periodically.

Gross Profit Method

An inventory estimation technique that calculates the cost of goods sold to estimate the ending inventory balance.