In Developing Ethical Standards for Your Company, You Attempt to Anticipate

question 36

Multiple Choice

In developing ethical standards for your company, you attempt to anticipate actions that would or could be harmful to consumers or the organization. For your company, ethics is:

• A) Consistent with legal standards
• B) More proactive than the law
• C) Responding to negative consequences of past actions
• D) A formal statement of legal requirements
• E) All of the above

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Definitions:

Cost Of The Resource

The total financial investment required to acquire, maintain, and operate a resource over its useful life.

Depletion

The allocation of the cost of natural resources over their useful life, reflecting the consumption of the resource.

Metal Ores

Naturally occurring minerals from which metals can be extracted economically.

Amortization

Amortization refers to the process of gradually writing off the initial cost of an asset over a period.