________ Sees the Morality of an Action Is Determined by Its

question 37

Multiple Choice

________ sees the morality of an action is determined by its ultimate effects.

• A)Ethical relativism
• B)Social contract theory
• C)Utilitarianism
• D)Natural law

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Definitions:

Journal Entries

Recorded transactions in the accounting ledger that reflect the financial activities of a business.

Voucher

A document or record acting as evidence for a transaction, or as an authorization for payment.

Net Method

An accounting technique where discounts for early payment are calculated and recorded as lower sales prices at the time of sale, in anticipation that discounts will be taken.

Periodic Method

An accounting method that records inventory purchases and sales periodically, typically at the end of an accounting period, instead of continuously.