In Which of the Following Common Types of Business Companies

question 51

Multiple Choice

In which of the following common types of business companies have costs of business activities that include inventory-related freight in costs and the cost of import duties or tariffs?

• A)service company
• B)manufacturing company
• C)merchandising company
• D)all of these companies

Recognize the importance and implications of professional codes and laws in decision-making.

Identify and apply the Reasoned Decision-Making Model in various scenarios.

Differentiate between ethical principles, codes, regulations, and guidelines.

Comprehend the basics of tort law and its relevance to professional practice.

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Definitions:

Indemnification

Payment for loss or damage suffered.

Fiduciary Relationship

A relationship based on trust such as exists between an attorney and a client, an agent and a principal, a guardian and a ward, a trustee and a beneficiary, or a director and a corporation.

Principal

A person who authorizes an agent to act on her or his behalf and subject to her or his control.

Independent Contractor

An individual who provides goods or services to another entity under terms specified in a contract or within a freelance arrangement, not as an employee.