The total amount of a purchase order shows as an amount due in the vendor’s register

Brownsville Novelty Store prepared the following budget information for the month of May:

Sales are budgeted at $360,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. Inventory was $84,000 on April 30; an inventory increase of $12,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated expense for selling and administrative expenses for the month are $48,000. Depreciation for May is projected at $6,000. Brownsville's budgeted operating income for May is:

The process of formulating the code of ethics facilitates discussion among employees about what is right and wrong and ultimately leads to better decisions

Indicate whether the statement is true or false a. True b. False