1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
siniylev [52]
2 years ago
5

Define ethics and law and show how they are different and similar.

Business
1 answer:
VikaD [51]2 years ago
5 0

Answer: The law sets minimum standards of behavior while ethics set maximum standards. Laws are created and enforced by governments based on society's ethics to mediate our relationships with each other and to protect their citizens.

You might be interested in
At the end of 2003, Ritzcar Co. fails to accrue sales commissions earned during 2003, but paid in 2004. The error is not repeate
Mandarinka [93]

Answer:

The effect of this error on 2003 ending working capital is that it overstated the ending 2003 working capital.

The error does not have effect on the 2004 ending retained earnings balance.

Explanation:

Let the amount of the commission expense be xxxx.

At the end of 2003, the journal entries should have been as follows:

Debit Commission expense for xxxx

Credie Commission payable for xxxx

Also, we have:

Working capital = Current assets – Current liabilities ………… (1)

From equation (1), current liabilities are understated because commission payable which was not recorded is an item under current liabilities. Since the current liabilities are understated, that indicates that the working capital in equation is overstated. Therefore, the effect of this error on 2003 ending working capital is that it overstated the ending 2003 working capital.

When the 2003 commission expense in the entries above was paid in 2004, it would have been recognized as an expense. This made the error to counterbalance. This implies that the 2004 ending retained earnings balance is still correct despite that there are errors in the earnings of the two years. Therefore, the error does not have effect on the 2004 ending retained earnings balance.

4 0
2 years ago
Helmers Corporation manufactures a single product. Variable costing net operating income last year was $74,000 and this year was
gogolik [260]

Answer:

$46,400

Explanation:

The computation of the absorption costing net operating income last year is shown below:

= Net operating income under variable costing + Fixed overhead deferred in ending inventory - Fixed overhead released in beginning inventory

= $74,000 + $0 - $27,600

= $46,400

All other information which is given in the question is not relevant. Hence, ignored it

4 0
3 years ago
When there are differences between the cash balance per bank and the cash balance per books, this is due to:____.
QveST [7]

When there are differences between the cash balance per bank and the cash balance per book, this is due to the Bank reconciliation statement.

The key difference between cash book balance and bank statement balance is that cash book balance shows the cash balance recorded in a company's cash book while bank statement balance is the cash balance recorded by the bank in its bank records. is.

Such fees and charges are charged to the savings cash balance book, but no entry is made in the cash book unless the company receives the savings book from the bank and records these entries. This creates a difference between the two balances.

Learn more about cash balance at

brainly.com/question/24979735

#SPJ4

6 0
2 years ago
Suppose that the central bank has increased the money supply such that there is an additional $ 231115 in excess reserves. If th
Alex787 [66]

Answer:

$196448

Explanation:

Since the central bank has increased the money supply by $231115 but the reserve ratio is maintained at 15%, this means that 85% of the money is being injected in the form of money supply.

Hence, the maximum increase in money supply, the 85% of $231115 is: $196448.

Hope this helps.

Thank you and Good luck.

5 0
3 years ago
Read 2 more answers
An initial decreasedecrease in a​ bank's reserves will decreasedecrease checkable deposits A. by an amount less than the decreas
svlad2 [7]

Answer:

The correct answer is B

Explanation:

Bank reserve is the minimum cash which is required to kept on hand through the financial institutions so that could meet the requirements of central bank.

Checkable deposits is a kind of any demand deposit account in anticipation of the checks or the drafts in any form which will be written. In short, it means that the owner of the account could withdraw funds on demand.

So, if the primary decrease in bank reserve will also decrease the checkable deposit as there would be no cash with bank to provide to customers by the amount that is greater than the decrease in the reserve.

8 0
3 years ago
Other questions:
  • At December 31, 2019, Sharon Lee Corporation reported current assets of $343,980 and current liabilities of $196,600. The follow
    14·1 answer
  • _____ determine what sales volume must be reached before the company's total revenue equals total costs and no profits are earne
    7·1 answer
  • An antiques dealer buys a grandfather clock for $200. she sets the selling price at $350. when the clock doesn't sell after two
    10·1 answer
  • When compared to static budgets, flexible budgets: a.encourage managers to use less fixed cost items and more variable cost item
    13·2 answers
  • Devon Company has collected the following data for one of its​ products: Direct materials standard​ (4 pounds​ @ $1/lb.) ​$4 per
    7·1 answer
  • "what advantage is the company experiencing by allowing angela to telecommute?"
    14·1 answer
  • Mahugh Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
    5·1 answer
  • Top earning game of USA​
    9·1 answer
  • What is one of the core concepts in IT
    13·2 answers
  • Problem found with in the agriculture sectors and the solution
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!