On Her Company Website,Ali Asks Customers Who Fill Orders to Place

question 259

True/False

On her company website,Ali asks customers who fill orders to place a check-mark in a box if they are willing to let her share their information with her suppliers.By asking this question,Ali is addressing privacy issues,and covering her actions in case someone should try to sue her for sharing private information.She is responding to the question,"Are my proposed actions legal?"
Asking the question,"Are my proposed actions legal?" is the first step toward addressing ethical concerns.By asking and answering this question,the business owner takes the first step in determining if the action is acceptable behavior.

---

Definitions:

Goodwill Impairment

A decrease in the value of goodwill on a company's balance sheet, indicating that the value of an acquired entity has declined.

Statement of Consolidated Retained Earnings

A financial statement that shows the total amount of retained earnings, adjusted for dividends and other changes, for a parent company and its subsidiaries.

FIFO System

"First In, First Out," an inventory valuation method where the costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Cost Method

An accounting technique used to value an investment, where the investment is recorded at cost without recognizing periodic income but dividends received are recorded as income.