Answer:
The correct answer is option D.
Explanation:
The ethical principles in business are not much different from the ethical principle in general. They are not separately based on some other special rules to judge business conduct. They are judged from the society's perspective of right and wrong.
There are two schools of ethical principles, namely, ethical universalism and ethical relativism. Universalism believe that the concept of right and wrong are universal. While, on the other hand, relativism school believes that they vary according to local customs.
Though universal ethical principles from different societies form a kind of informal contract that all individuals and organizations have to follow.
Failure to observe these principles not only corrode company's reputation but have also other adverse effects and costs involved.
Answer:
$50,000
Explanation:
Goodwill is the excess of purchase consideration over the net assets of the business acquired.
Purchase consideration in this case is $950,000
The net assets =fair value of assets-fair value of liabilities
The fair value of net assets is already computed at $900,000 as provided in the question.
Goodwill=$950,000-$900,000=$50,000
Ultimately, the excess of purchase consideration over fair of net assets of the acquired business is $50,000
Answer: D. underapplied overhead of $6,000.
Explanation:
First we find the Pre-determined overhead rate and we can see that the company estimated manufacturing overhead would be $150,000 and direct labour hours would be 10,000.
So the Pre-determined rate is,
= 150,000/10,000
= $15 per direct labour hour.
We then calculate the actual Applied Overhead. The actual direct labour was 12,000 so calculating we have,
= 15 * 12,000
= $180,000
Now we then calculate for the Underapplied or (Overapplied) manufacturing overhead amount.
The formula is,
Underapplied (Overapplied) Manufacturing = Actual Manufacturing Overhead - Applied Manufacturing Overhead
Underapplied (Overapplied) = 186,000 - 180,000
= $6,000
It is a positive number so it is $6,000 underapplied therefore option D is correct.
Answer: Keep them safe in a deposit box
Explanation:
Since Tammy is going on a 2-week vacation overseas and she is planning on taking two credit cards, the thing to do with the other credit cards while she is gone is to keep them safe in a deposit box.
There's no need for him to cancel the cards. Also, the cards are not stolen and should not be reported stolen and he shouldn't give them to someone else in order to prevent fraud. He should keep the cards safely till he comes back.
