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The Purpose of a Code of Ethics Is to State

question 62

True/False

The purpose of a code of ethics is to state an organization's expectations for the behavior of all its external stakeholders.


Definitions:

Fixed Costs

Costs that do not vary with the level of production or business activity, remaining constant even when output changes.

Variable Cost

Expenses that change in proportion to the activity or volume of business.

Persons Served

A term often used in service delivery and nonprofit sectors to refer to the number of individuals who receive services or benefits from a program.

Cost Behavior

Refers to the way different types of production costs change when there is a change in the level of production.

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