Which of the Following Statements Is True with Regard to Ethical

question 4

Multiple Choice

Which of the following statements is true with regard to ethical codes?

• A) Issues can be handled solely by relying on ethics codes.
• B) Conflicts sometimes emerge within ethics codes and among various organizations' codes.
• C) Ethics codes tend to be proactive rather than reactive.
• D) Codes do not conflict with institutional policies and practices.

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Definitions:

Accounts Payable

Accounts payable are liabilities representing the amount a business owes to its suppliers or creditors for goods and services received but not yet paid for.

Cash Receipts Journal

A journal used to record all cash inflows or money received by the business.

Cash Received

The amount of money a business collects, normally in exchange for goods or services.

Customers Account

Refers to the individual accounts or ledgers maintained by a business to record transactions related to sales, returns, payments, and balances owing for each customer.