Which of the Following Is NOT One of the Three

question 45

Multiple Choice

Which of the following is NOT one of the three principals to resolve ethical dilemmas?

• A) Employee agreement
• B) The gut-feel test
• C) Analysis of conflicts
• D) Full disclosure

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Definitions:

Lower Of Cost

An accounting principle that values inventory at the lower of its historical cost or the current market value, to record losses in value.

FIFO

First In, First Out; an inventory valuation method where the first items placed in inventory are the first to be removed or sold.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.

FOB Destination

A shipping term indicating that the seller is responsible for the goods until they reach the specified destination and have been delivered.