Ethics, in the Context of Business Practitioners

question 106

Multiple Choice

Ethics, in the context of business practitioners:

• A) has to do with rules or standards governing the conduct of members of a profession and how standards are put into action within an organization
• B) has to do with only rules governing interactions with other corporations
• C) has to do with federal regulations about racial discrimination
• D) all of the other specific choices
• E) none of the other specific choices

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Definitions:

Selling and Administrative Expense Budget

A financial plan outlining the projected expenses for selling activities and general administrative functions of a business.

Variable Expense

Costs that vary directly with the level of output or sales, including materials and labor costs.

Fixed Selling and Administrative Expense

Overhead costs not directly tied to production, including salaries of sales personnel and office rent, that remain constant regardless of sales volume.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, focusing on a company's liquidity and ability to meet short-term obligations.