Criticism of 3BL Suggests 3BL Is Comparable to

question 93

Multiple Choice

Criticism of 3BL suggests 3BL is comparable to

• A) a code of ethics hanging on the wall in every office: it does not lead to ethical behavior.
• B) a public confession.
• C) PR rather than organizational values.
• D) a marketing campaign rather than a product.

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Definitions:

Useful Life

The estimated duration over which an asset is expected to be economically useful to its owner.

Statement of Financial Position

A financial document presenting an entity's assets, liabilities, and equity at a specific date, more commonly known as a balance sheet.

Prepayment Accounts

Accounts that reflect payments made in advance for expenses that will be incurred in future periods, treated as assets until used.

Supplies Expense

Costs associated with the consumable items that are used in the daily operations of a business and not intended for resale.