Use the Following Information for Questions:
Terry Inc -At the End of the Second Quarter, the Income Statement

question 57

Multiple Choice

Use the following information for questions:
Terry Inc.purchased shares in three companies during the second quarter of 2011.They prepare interim financial statements each quarter and yearly statements as of December 31.Shown below are their investments in temporary investments for 2011. $\begin{array}{lrrrrrr}&\text { 2nd Qtr. } && \text { 3rd Qtr. } && \text { 4th Qtr. }\\\text { Investments } & \text { Cost } & \text { Market } & \text { Cost} & \text { Market } & \text { Cost} & \text { Market }\\\hline\text { Sunshine Co. shares } & \$ 43 & \$ 45 & \$ 43 & \$ 46 & \$ 43 & \$ 45 \\\text { New Ventures Inc. shares } & 101 & 99 & 101 & 105 & 101 & 103 \\\text { Good Day. shares } & 51 & 49 & 51 & 47 & 51 & 46\end{array}$
-At the end of the second quarter, the income statement would show:

• A)a realized loss on sale of temporary investments for $2.
• B)an unrealized loss on temporary investments for $2.
• C)an unrealized gain on temporary investments for $2.
• D)no gain or loss related to temporary investments.

Articulate the significance of core values such as human dignity and basic rights in transcultural ethics.

Distinguish between different ethical dilemmas involving organizational resources, conflicts of interest, and customer confidence.

Grasp Kohlberg's stages of moral development and their application to ethical decision-making.

Acknowledge the influence of social and organizational factors on ethical behavior.

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Definitions:

Variable Overhead Spending Variance

The difference between the actual variable overheads incurred and the expected costs based on standard overhead rates.

Standard Quantity

The expected or predetermined amount of materials or input required to produce a single unit of product.

Standard Price

A predetermined cost assigned to materials, labor, and overhead, used as a benchmark against which the actual costs are compared.