The Effective Rules of the Game, the Boundaries Between Competitive

question 155

Multiple Choice

The effective rules of the game, the boundaries between competitive and unethical behaviour, and the codes of conduct in business dealings in business activities are collectively referred to as

• A)Cultural modes and mores
• B)Societal norms
• C)Business cultures
• D)Fair trade practices

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Definitions:

Budgeted Cash Receipts

Projected cash inflows for a future period, based on sales forecasts and other receipts.

Budgeted Cash Disbursements

An estimate of all cash payments that a business plans to make over a specific period, including operating expenses, purchase of assets, and other payouts.

Variable Selling Expense

includes costs that vary directly with sales volume, such as commissions, shipping charges, and promotional expenses.

Direct Labor Wage Rate

The amount paid per hour or per unit of production to employees who directly manufacture or assemble products.