To Show the Company's Desire for Ethical Behaviour by Its

question 178

Multiple Choice

To show the company's desire for ethical behaviour by its employees,many business firms have established

• A) an ethical review board.
• B) an office of ethical affairs.
• C) a whistleblower reward system.
• D) random ethical audits.
• E) codes of ethics.

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Definitions:

Accounts Payable

A liability account that represents amounts a company owes to suppliers or creditors for goods and services received but not yet paid for.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities, representing the ownership stake of the shareholders.

Accounts Payable

An obligation that a company has to pay off short-term debts to its vendors or service providers for purchases made on credit.

Chart of Accounts

An organized classification of all financial accounts in a business's accounting system, facilitating the recording of transactions and financial reporting.