The Most Important Values Included in Corporate Values Statements Include

question 57

Multiple Choice

The most important values included in corporate values statements include:

• A) Pursuit of self-interests
• B) Commitment to beating the competition
• C) Diversity
• D) Integrity and ethical behavior

---

Definitions:

FIFO Inventory Method

An inventory valuation method where the first items acquired are the first ones sold, used to determine the cost of goods sold and ending inventory.

Net Income

Net income is the total earnings of a company after subtracting all expenses, including taxes, costs, and losses, from its total revenue, indicating its profit.

LIFO Method

An inventory valuation method that assumes the last items placed in inventory are the first sold, affecting cost of goods sold and inventory valuations on financial statements.

Costs Decreasing

A situation where the expenses associated with the production or operation of a business are reducing over time.