At the End of the Year,Beta,Inc

question 26

Multiple Choice

At the end of the year,Beta,Inc.has an unadjusted debit balance in the Manufacturing Overhead account of $3950.The adjusting journal entry needed to adjust the balance to zero will include a ________.

• A)debit to Cost of Goods Sold $3950 and credit to Manufacturing Overhead $3950
• B)debit to Manufacturing Overhead $3950 and credit to Cost of Goods Sold $3950
• C)debit to Work-in-Process Inventory $3950 and credit to Manufacturing Overhead $3950
• D)debit to Gross Profit $3950 and credit to Cost of Goods Sold $3950

Identify stakeholders relevant to an ethical decision-making process in business and discuss their interests.

Understand the necessity of engaging all relevant parties in the process of brainstorming and evaluating ethical alternatives.

Describe the factors involved in choosing an ethical course of action after brainstorming and evaluating alternatives.

Differentiate firms that practice corporate social responsibility from those that practice conscious marketing.

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Definitions:

Economic Duress

A situation where one party is forced into a contract or agreement under threats, making the consent given not truly voluntary.

Net Average Annual Profit

The average profit of a business over a specified period, after all expenses, taxes, and costs have been deducted.

Material Fact

A fact that could influence the decision of a reasonable person or is likely to affect the outcome of a case, contract, or transaction.

Misrepresentation

A false statement of fact made by one party to another, which induces the latter into entering a contract.