Ethical Behaviour Is Determined

question 147

Multiple Choice

Ethical behaviour is determined

• A) by the individual.
• B) by the government.
• C) partly by the individual and partly by the government.
• D) partly by the individual and partly by the culture.
• E) by the culture.

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Definitions:

Gross Profit

The difference between the revenue generated from sales and the cost of goods sold, before deducting overheads, payroll, taxation, and interest payments.

Perpetual Inventory System

It's a method in accounting where inventory sales and purchases are registered immediately using automated point-of-sale systems and enterprise asset management programs.

Credit Memo

A document issued by a seller to a buyer, reducing the amount owed by the buyer to the seller, typically due to a return or rebate.

Discount Period

The time period during which a debtor can pay less than the full amount owed to clear a debt, typically as an incentive for early payment.