Larry, an Inexperienced Sales Rep, Has Asked You to Suggest

question 110

Multiple Choice

Larry, an inexperienced sales rep, has asked you to suggest ways to deal with potential ethical problems. What is your advice?

• A)It's only unethical if it is illegal.
• B)Do what the other sales reps do.
• C)Do whatever makes profits for your company.
• D)Perform whatever services your client requests.
• E)Develop and maintain a personal code of ethics.

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Definitions:

Cash-Basis Taxpayer

A Cash-Basis Taxpayer is an individual or business that reports income and deductions in the year that they are actually received or paid, as opposed to when they are earned or incurred.

Accrual Basis

Accrual basis accounting is an accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Unemployment Compensation

Financial payments made to individuals who are unemployed through no fault of their own, intended to provide temporary financial assistance.

Jury Duty Pay

Compensation received by a juror for performing jury service in a court, which is considered taxable income.