Questions of What Is Ethical Involve the Extent to Which

question 1

Multiple Choice

Questions of what is ethical involve the extent to which a company has

• A)a legal duty beyond those duties mandated by ethics.
• B)an ethical duty beyond those duties mandated by law.
• C)any duty beyond those mandated by both ethics and the law.
• D)any duty when it is uncertain whether a legal duty exists.

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Definitions:

Cash

Money in the form of coins or banknotes, especially that held to conduct transactions or as part of a business's liquid assets.

Prepaid Insurance

An asset account that represents payments made in advance for insurance coverage, which is expensed over the period the insurance policy is in effect.

Trial Balance

A bookkeeping worksheet wherein the balances of all ledgers are compiled into debit and credit account columns to check for the arithmetic accuracy of the accounts.

Debit Column

In bookkeeping, the column in an account where debits are recorded, typically on the left-hand side.