Making Decision Based on Generally Held Beliefs About Proper Corporate

question 23

Multiple Choice

Making decision based on generally held beliefs about proper corporate behavior is termed an organization's

• A) legal
• B) ethical
• C) economic
• D) discretionary _________ responsibility.

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Definitions:

Note Receivable

A written promise for the amounts to be received within a certain period of time, which represents a right to receive payments from another entity.

Payment of Account

The process of settling an amount owed to a creditor or vendor, often referred to as making a payment on an account.

Accounts Receivable Turnover

A financial ratio that measures how many times a company collects its average accounts receivable within a period.

Days' Sales in Receivables

A financial metric that calculates the average number of days it takes a company to collect payment after a sale has been made.