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The AACSB Ethics Education Taskforce Has Called for Business Students

question 20

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The AACSB Ethics Education taskforce has called for business students to be familiar with the following approaches to ethical decision making:


Definitions:

Variable Costing

An accounting method that only allocates variable production costs to products, excluding fixed costs.

Absorption Costing

A costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.

Operating Income

The profit realized from a business's core operating activities, excluding costs and revenues from non-operating activities.

Variable Costing

An accounting methodology that only includes variable production costs (costs that change with the level of output) in product costs.

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