If You Are Developing Your Own Personal Ethical System, Which

question 19

Multiple Choice

If you are developing your own personal ethical system, which of the following would NOT be appropriate to include in your evaluation?

• A)your beliefs
• B)your age
• C)your behavior
• D)your character

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Definitions:

Traceable Fixed Expenses

Fixed costs that can be directly associated with a specific business segment or operation.

Segment Margin

The amount of profit or loss generated by a particular segment of a business, after accounting for the direct costs and traceable fixed costs associated with that segment.

Absorption Costing

A method of costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Variable Costing

An accounting method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold, treating fixed manufacturing overhead as an expense of the period in which it is incurred.