When a company chooses what principle to follow on issues of ethics and social responsibility, there are two common philosophies to use as guides: let the free market and legal system decide or let individual managers and companies choose

Which of the following is true of a gift promise?

A) A gift promise can be enforced in a court of law. B) A completed gift promise cannot be cancelled for lack of consideration. C) A gift promise contains considerations. D) The promisee can take legal action if the promisor does not uphold the promise.

The benefits of budgeting include all of the following except:

A. Enabling the company to produce more for less cost. B. Assigning responsibility for situations that require corrective action. C. Coordinating activities between departments within the organization. D. Creating standards for evaluating performance.