By Its Very Nature, a Professional Code of Ethics Will

question 34

Multiple Choice

By its very nature, a professional code of ethics will only be useful if it

• A) avoids any propensity to be to focused or unspecific
• B) avoids any propensity to be to unfocused or specific
• C) avoids any propensity to be to unfocused or unspecific
• D) avoids any propensity to be to focused or specific

---

Definitions:

Product Cost

The total amount of expenses incurred to create and offer a product for sale, including direct materials, labor, and overhead costs.

Efficiency Variance

A metric used to measure the difference between the actual use of resources and the standard expected use of resources in the production process.

Variable Overhead

Costs that change in proportion to the activity or volume of production but are not directly associated with the production of a specific unit, such as utilities.

Direct Labour Hours

The total hours worked by employees that are directly involved in the production process.