If It Is Legal,it Is Ethical; If It Is Illegal,it

question 13

True/False

If it is legal,it is ethical; if it is illegal,it is unethical.

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Definitions:

Adjusted Trial Balance

The trial balance prepared after all the adjusting entries have been posted.

Financial Statements

Documents that provide an overview of a company's financial condition, including the balance sheet, income statement, and cash flow statement.

Accrued Taxes Payable

Taxes that have been incurred but not yet paid, recorded as a liability on the company's balance sheet.

Current Liability

A financial obligation or debt that is due within one year or within the normal operating cycle of a business.