Which of the Following Is an Advice from the Institute

question 13

Multiple Choice

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

• A) Get endorsement from the chairperson and the board.
• B) Put the code on the organizations website rather than sending it to all employees,suppliers,and others.
• C) Do not pick a well-tested model.
• D) Do not try out the code first as no piloting is required for a company's code of conduct.

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Definitions:

Labor Efficiency Variance

measures the difference between the actual labor hours used and the standard labor hours expected for the production achieved, indicating labor efficiency.

Labor Efficiency Variance

A measure of the difference between the actual number of labor hours used and the standard number of labor hours expected to produce a certain level of output.

Materials Quantity Variance

The financial difference between the actual quantity of materials used in production and the standard expected quantity.

Favorable

A term used to describe outcomes or variances that are positive or beneficial to a business, such as lower costs or higher revenues than expected.