Touch Tronix, Inc

question 3

Multiple Choice

Touch Tronix, Inc. sells component parts to Advanced Communications, Inc. a cell phone manufacturer. On December 10, 2014, Touch Tronix, Inc. sold €1,020,000 of goods to Advanced Communications, Inc. on account for €1,320,000. Terms of the sale were 2/10, net 30. On December 18, 2014, Advanced Communications, Inc. paid the account in full. Advanced Communications, Inc. uses a perpetual inventory system. Which of the following is true regarding the impact on the statement of financial position for Advanced Communications, Inc. when the payment is made on December 18, 2014?

• A) Assets decreased by €1,320,000.
• B) Assets increased by €26,400.
• C) Liabilities decreased by €1,293,600. d Liabilities decreased by €1,020,000.

Understand the concept of enlightened egoism and its implications for ethical decision-making.

Evaluate the morality of actions based on their consequences for everyone affected and understand the significance of the greatest good for the greatest number.

Appreciate the importance of legal and ethical standards in determining what is considered white collar crime.

Understand the different types of justice (distributive, procedural) and their relevance in ethical decision-making and societal norms.

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Definitions:

Family and Medical Leave Act

U.S. legislation that grants eligible employees the right to take unpaid, job-protected leave for specified family and medical reasons.

Paid Leave

Employer-provided time off work that is compensated, including for reasons such as vacation, illness, or family care.

Leave Time

An allotted period of time during which an employee is allowed to be away from work, often for specific reasons such as health or personal matters.

National Labor Relations Act

Federal labor legislation consisting of the Wagner and Taft-Hartley acts.