How Often Should Your Firm's Ethics Code Be Reviewed

question 15

Multiple Choice

How often should your firm's ethics code be reviewed?

• A) annually
• B) once it is established, it should never be changed
• C) every day
• D) whenever the firm is covered unfavorably in the media

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Definitions:

Variable Utilities

A classification of utility costs that change in relation to production volume or operational activity.

Human Behavior

The study of how individuals act within societies, influenced by factors such as emotions, culture, and environment.

Budgetary Slack

The practice of underestimating revenues or overestimating costs when preparing a budget to create a buffer.

Budget Process

The procedure by which an organization or individual creates a plan to allocate resources and monitor financial activity over a specified period.