GAAP requires publicly traded companies to prepare a post-closing trial balance and publish it in their annual report

Newbury Office Supply reported the following gross profit percentages

2014: 37.5%; 2015: 36.2%; 2016: 20.8%. The industry average is 35%. What are some possible reasons for the decline in 2016? What will be an ideal response

Which of the following is an issue to keep in mind with regard to maintaining an ethical environment in an organization?

a. Monitoring employee online activity is a good way of creating an ethical climate. b. Use of video cameras in the workplace will make employees feel the firm cares about ethics. c. High levels of employee monitoring increases citizenship behaviors. d. Monitoring employees may increase ethical compliance but may create a culture of mistrust.