Which of the Following Should an Organization Do in Order

question 3

Multiple Choice

Which of the following should an organization do in order to have an effective compliance and ethics program?

• A)It should do a public display of an employee's report on an unethical behavior.
• B)It should ensure that people who have previously engaged in unethical activities are placed in charge of programs.
• C)The organization should communicate its standards and procedures to all members.
• D)Low-level personnel must be assigned to have responsibility for the program.

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Definitions:

Debit Balance

An excess of debits over credits in an account, indicting expenses, assets, or losses.

Adjusting Entries

Entries in accounting journals, made at the termination of an accounting cycle, serve to apportion incomes and outlays to their actual occurrence period.

Unearned Revenue

Money received by an entity for a service not yet performed or a product not yet delivered. It is recorded as a liability until the service or product is delivered.

Net Income

The total profit or loss of a company after all revenues, expenses, and taxes have been accounted for.