Which of the Following Is Not One of the Ethical

question 54

Multiple Choice

Which of the following is not one of the ethical norms spelled out in the AMA's Code of Ethics?

• A)citizenship
• B)honesty
• C)balance
• D)transparency
• E)fairness

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Definitions:

Income Summary Account

A temporary account used in closing process to transfer the balances of all revenue and expense accounts to Retained Earnings.

Income Summary

An account used in the closing process during the accounting cycle that summarizes revenues and expenses before transferring the net amount to retained earnings.

Net Income

The amount of money a company earns after deducting all its expenses, taxes, and costs from its total revenues, also known as net earnings or net profit.

Adjust Salaries

The process of modifying the amount of wages or salaries paid to employees, which may be done for reasons such as performance appraisals or inflation adjustments.