A Set of Moral Principles or Values That Guide Actions

question 71

Multiple Choice

A set of moral principles or values that guide actions and decisions is called ________.

• A) a vision
• B) an ethic
• C) backcasting
• D) ecocentric

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Definitions:

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account, recorded on the left-hand side.

Utilities Expense

Utilities Expense refers to the cost incurred from the consumption of utilities services like electricity, water, and gas in the course of business operations.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, verifying the equality of debits and credits.

Balance Sheet

A financial statement that displays the assets, liabilities, and shareholders' equity of a company at a specific point in time, showing the balance of income and expenditure over the preceding period.