An Ethical Manager's Decisions Are Based Only on the Following

question 113

True/False

An ethical manager's decisions are based only on the following questions: "Is it legal?" and "Is it profitable?"
Ethics-based managers ask themselves the following questions when faced with a potentially ethical dilemma: "Is it legal?","Is it balanced?",and "How will it make me feel about myself?"

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated after considering the cost of goods sold and any new purchases.

Inventory Management

The process of ordering, storing, using, and selling a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing such items.

Days' Sales

A measure that indicates how many days, on average, it takes a company to collect revenue after a sale has been made.

Retail Method

An estimating method used to calculate inventory cost, based on the retail price, to determine cost of goods sold and ending inventory.