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Ethical Formalism Falls Under a ______ System, as the Focus

question 48

Multiple Choice

Ethical formalism falls under a ______ system, as the focus is on the act and its rightness (or wrongness) rather than on the consequences of the act.


Definitions:

Treasury Stock

Stock that has been issued but has been bought back by the corporation or received as a gift.

Net Cash

Describes the amount of cash remaining after all cash expenditures, or disbursements, are subtracted from the cash receipts during a given period.

Indirect Method

A method used in accounting to calculate cash flows from operating activities, adjusting net income by changes in non-cash accounts.

Direct Method

A technique used in cash flow statements to present cash activities directly related to operating activities.

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