Ferguson Company Sold Goods That Had Cost $950 to Manufacture

question 108

Multiple Choice

Ferguson Company sold goods that had cost $950 to manufacture.How does this transaction affect the financial statements? $\begin{array}{|c|c|c|c|c|c|c|c|c|c|}\hline\text { Assets }&=&\text { Liabilities }&+ &\text { Equity }&\text { Revenue }&- &\text { Expenses }&=&\text { Net Income }\\\hline\end{array}$

• A) \[\begin{array} { | l | l | l | l | l | l | l | l | l |l| }
• \hline ( 950 ) & = & \mathrm { NA } & + & 950 & \mathrm { NA } & - & 950 & = &950 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | l | l | l | l | l | l | l |l| }
• \hline ( 950 ) & = & \mathrm { NA } & + & (950) & \mathrm { NA } & - & 950 & = &(950) \\
• \hline
• \end{array}\].
• C) \[\begin{array} { | l | l | l | l | l | l | l | l | l |l| }
• \hline ( 950 ) & = & \mathrm { NA } & + & (950) & \mathrm { NA } & - & 950 & = &(950) \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | l | l | l | l | l | l | l | l |l| }
• \hline ( 950 ) & = & ( 950 ) & + & \mathrm { NA } & \mathrm { NA } & - & \mathrm { NA } & = & \mathrm { NA } \\
• \hline
• \end{array}\] .

Distinguish between business ethics and general ethics.

Differentiate between stakeholders and shareholders and understand their roles in business decisions.

Explore the interplay between law and business ethics in shaping business decisions.

Acknowledge various ethical theories and their impact on business decisions including consequentialism, utilitarianism, and absolutism.

---

Definitions:

Alcoholics Anonymous

A fellowship of individuals who share their experience, strength, and hope with each other to solve their common problem and help others to recover from alcoholism.

Disease Model

A model that views psychiatric disorders as similar to physical diseases, usually with an identifiable cause, predictable progression, and potential for treatment or prevention.

Abstinence

The act of refraining from indulging in an activity or consuming a substance, especially alcohol or other drugs.

Somatic

Pertaining to or affecting the body, particularly as distinct from the mind or the environment.