If You Are Asking Yourself "What Your Mother Would Say

question 14

Multiple Choice

If you are asking yourself "what your mother would say" in response to an action you've taken, which ethical test are you using?

• A)test of common sense
• B)test of one's best self
• C)test of one's most admired personality
• D)test of hurting someone else

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Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Bonds Payable

Long-term liabilities represented by written promises to pay a specific sum of money, plus interest, at a future date.

Accounts Payable

An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors or suppliers.

Taxes Payable

Liabilities due to federal, state, or local tax authorities within the next fiscal year.