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:

Direct Labor Cost

Expenses that are directly associated with the labor used in producing goods or services, including wages for workers who physically manufacture a product.

Estimated Overhead

The approximated costs of all overhead expenses expected to be incurred during a specified period, necessary for maintaining operations.

Raw Materials Purchased

This term refers to the total cost or expenditure on raw materials that have been bought for use in production during a specific period.

Work in Process Inventory

Inventory representing the cost of unfinished goods being produced, including materials, labor, and overhead expenses.