A Major Step Toward Ethical Regulation Was Taken in 1908

question 72

Multiple Choice

A major step toward ethical regulation was taken in 1908, when the ABA approved the , which consisted of 32 ethical principles.

• A)Model Code of Professional Responsibility
• B)Canons of Ethics
• C)Rules of Law
• D)Common Law Ethics

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Definitions:

Accounts Receivable Turnover

A financial metric that measures how often a company collects its receivables over a time period.

Inventory Turnover

A ratio indicating how many times a company's inventory is sold and replaced over a specific period, helping assess efficiency in managing inventory levels.

Accounts Receivable Turnover Ratio

A financial metric indicating how effectively a company extends credit and collects debts on that credit; calculated by dividing net credit sales by average accounts receivable.

Inventories

Quantities of goods, raw materials, work-in-progress, and finished products that a company holds for the purpose of sale or production.