Edmund Has Been Appointed as the Executive In-Charge of the Code

question 70

Multiple Choice

Edmund has been appointed as the executive in-charge of the code of conduct for Elmer Enterprises.He enforces the code of conduct among employees and oversees the investigations of wrong doings in the organization.He also provides additional guidance and support to employees.Edmund is a(n) _____.

• A) chief operations officer
• B) ethics officer
• C) assessing officer
• D) chief analytics officer

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Definitions:

Direct Costing

An accounting method that only considers variable costs as product costs, while fixed costs are treated as period expenses.

Inventory Errors

Mistakes in accounting for inventory that can lead to inaccuracies in financial reporting, affecting cost of goods sold and net income.

LIFO Liquidation

An accounting method where the most recently produced items are recorded as sold last, potentially distorting the cost of goods sold and profitability during inflationary periods.

Bonus Contracts

Agreements that specify the conditions under which bonuses will be awarded to employees or partners, often tied to performance metrics.