A(n) ________ Code of Ethics Generally Outlines the Procedures to Be

question 143

Multiple Choice

A(n) ________ code of ethics generally outlines the procedures to be used in specific ethical situations.

• A) operational
• B) tactical
• C) policy-based
• D) credo-based
• E) principle-based

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Definitions:

Property, Plant

Assets that are used in operations and have a useful life longer than one year, such as buildings, machinery, and equipment.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was acquired.

Cash Dividends

Payments made by a corporation to its shareholder members from current or retained earnings, usually in the form of cash.

Operating Activities

The day-to-day functions of a business related to producing and delivering its goods and services, as reflected in its cash flow.