Though His Business Is Very Small,the Owner of a LAN

question 180

Multiple Choice

though his business is very small,the owner of a LAN center wants to follow the American Marketing Association Statement of Ethics.Every month there is a "company cookout." At the end of the meal,the employee (from president to members of the cleaning staff) who had the best idea for improving the center is honored and given a $25.00 gift certificate plus a T-shirt that reads,"Great Minds Think Like Me." This action exhibits which key AMA ethical value?

• A) honesty
• B) responsibility
• C) fairness
• D) respect
• E) openness

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Definitions:

Share Issue Costs

Expenses that a company incurs when issuing new shares, such as legal fees, accounting fees, and underwriting fees.

Fair Value

The projected proceeds from the sale of an asset or the financial burden of transferring a liability in a harmonious transaction between entities in the market at the date of measuring.

Loans Payable

Obligations of a company to repay borrowed money in the future.

Impaired

A term used to describe an asset whose market value has decreased below its book value on the balance sheet.