Which of the Following Is a Basic Definition of Ethics

question 123

Multiple Choice

Which of the following is a basic definition of ethics?

• A)Guidelines for moral behaviour.
• B)Rules or principles that define right and wrong behaviour.
• C)Principles for legal and moral development.
• D)Personal convictions about good and bad.

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Definitions:

Net Sales

Revenue from sales minus returns, allowances, and discounts.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases are added or sales are made.

Inventory Costing

The method of accounting that determines the value of a company's inventory, taking into account the costs of acquiring, producing, and other costs associated to bring the inventory to its current condition and location.

Cost of Goods Sold

An accounting term denoting the direct costs attributable to the production of goods sold by a company.