Which Ethical Principle Do You Think You Most Follow When

question 34

Short Answer

Which ethical principle do you think you most follow when examining choices and justifying actions?

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Definitions:

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.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life.

Adjusting Entry

Journal entries made in accounting records at the end of an accounting period to update accounts for accurate financial reporting.