Which of the Following Statements Is a Piece of Advice

question 47

Multiple Choice

Which of the following statements is a piece of advice from the Institute of Business Ethics for creating a code of ethics?

• A)The company's competitors should be completely ignored when framing the code of ethics.
• B)The involvement of external parties should be avoided during the creation of drafts.
• C)The code should be publicly shared on platforms associated with the company.
• D)The code should be tested on a sample consisting solely of top managerial employees.

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Definitions:

Adjusting Entry

An accounting journal entry made at the end of an accounting period to record any unrecorded income or expenses for that period.

Contract

A legally binding agreement between two or more parties, outlining the terms and conditions under which specified actions are to be performed.

Recognize Revenue

The accounting principle dictating that revenue is reported at the time it is earned, regardless of when payment is actually received.

Contract Services

External services hired through a contractual agreement to perform tasks or projects that are typically beyond the capacity or expertise of the hiring organization's staff.