"It Doesn't Seem Fair That I Have to Pay Employees

question 2

Multiple Choice

"It doesn't seem fair that I have to pay employees even if they don't work on the statutory holiday," lamented Wesley,"but,I guess that I have no choice." This example shows the influence of a(n) ______________ ethic on decision-making.

• A) economic efficiency
• B) personal virtues
• C) ethic of caring
• D) utilitarian
• E) government requirements

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Definitions:

Fiscal Period

A specific time frame used for financial reporting and budgeting, often synonymous with a fiscal year, but can refer to any defined accounting period.

Adjusting Entry

An entry made in the accounting journals at the end of an accounting period to allocate income and expenditure to the appropriate period.

Vertical Analysis

A financial analysis method that expresses each item in a financial statement as a percentage of a base figure, facilitating comparisons.

Balance Sheet

A summary detailing the assets, dues, and shareholders' stake in a corporation at a fixed point in time.