All of the Following May Eliminate the Need for Additional

question 125

Multiple Choice

All of the following may eliminate the need for additional laws governing right and wrong in business settings EXCEPT:

• A) stringent codes of ethics.
• B) moral organizational cultures.
• C) ethical examples from top management.
• D) standardization of fixed points of reference.
• E) support for corporate social responsibility programs.

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Definitions:

Common Stock

Represents ownership shares in a corporation, giving holders voting rights and a share in the company’s profits through dividends.

Market Price

Today's market price for trading an asset or service.

Journalize Entry

A process in accounting that involves recording transactions and financial events in a journal as part of the double-entry bookkeeping system.

Limited Liability Company

A form of business organization that unites the personal tax treatment of a partnership or sole proprietorship with the limited legal responsibility associated with corporations.