According to the hierarchy of ethical principles presented in the text, an action prohibited by ________ should also be unacceptable to ________
A) legal rules, societal norms
B) personal norms, professional memberships
C) organizational norms, societal norms
D) professional memberships, legal rules
A
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Which of the following factors is the most important consideration in estimating sales tax collections for the year?
a. the projected volume of sales subject to the sales tax b. the projected elementary school enrollment c. the projected number of housing starts d. the amount expected to be budgeted on the highway maintenance program
Which of the following statements is true regarding valuation amounts on the balance sheet?
a. Stockholders' equity reflects the amount the stockholders would receive upon liquidation. b. Assets are recorded at current cost. c. Stockholders' equity reflects the current market value of the stock d. There are a variety of assumptions used in determining amounts reported on the balance sheet.