Which of the Following Terms Refers to the Obligation of a Business

question 140

Multiple Choice

Which of the following terms refers to the obligation of a business to contribute to society?

• A) antitrust enforcement
• B) social responsibility
• C) business ethics
• D) relative ethics

Appreciate the predictive power of personal constructs in understanding behavior.

Understand how personal constructs are formed, tested, and modified.

Recognize the significance of construct dichotomy and construct revision in personal growth.

Grasp the importance of understanding other people’s construct systems in interpersonal relations.

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Definitions:

Uncollectibles

Debts from customers that are considered impossible to collect and are therefore written off as a loss.

Expense with Revenues

Represents the relationship between the costs incurred and the revenues generated in a specific period.

Direct Write-off Method

An accounting method for treating bad debts that writes off specific invoices as uncollectable only at the time they are deemed irrecoverable.

Allowance Method

An accounting technique used to estimate and account for doubtful accounts, providing a more accurate reflection of realizable revenue.