Which of the Following Is Correct with Regard to Managerial

question 121

Multiple Choice

Which of the following is correct with regard to managerial ethics?

• A)A manager who discriminates against any ethnic minority in hiring is exhibiting illegal,but not unethical,behaviour.
• B)If a manager pays an employee less than he deserves because the manager knows the employee can't afford to quit,the manager is clearly behaving unethically.
• C)Ethics are not usually an issue when a firm deals with customers.
• D)It is difficult to deal with ethical issues because there is a lot of global variation in business practices.
• E)All of the statements are correct.

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Definitions:

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made, used to prepare financial statements.

Prepaid Insurance

An asset account that represents insurance paid in advance for coverage extending over a future period, which has not yet expired.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in the net profit or loss for that period.

Insurance Expense

The cost incurred by an entity to obtain insurance coverage, recognized as an expense over the period the insurance protection is provided.