Wal-Mart Expects Its Code of Ethics to Provide All of the Following

question 42

Multiple Choice

Wal-Mart expects its code of ethics to provide all of the following benefits except

• A) creating an outline for ethical policies and standards.
• B) encouraging employees to behave ethically.
• C) communicating the company's expectations to the employees.
• D) describing what to do in every ethical situation.
• E) detailing the punishment that will be given for an ethical breech.

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Definitions:

Sales Returns & Allowances

Transactions where sellers accept returned goods from buyers, or provide a price reduction or discount, reducing the initial sales revenue.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income or loss.

Perpetual Inventory Method

An inventory accounting method where updates to the inventory records are made immediately following each sale or purchase.

Sales Returns and Allowances

A reduction in sales revenue that occurs when customers return goods or receive allowances for unsatisfactory goods, impacting the net sales figure.