Answer:
True .
Explanation:
Business ethics tell us what is right and wrong, what is good and bad, what is fair and unfair. Business ethics are very important for any company. They help a company to improve there image in front of people. Business ethics is a part of society , business uses its resources ,so its become the moral value of business to do something for society.
Whenever a company do something good for society , then it improves its image in public .
Now a days, the consumer are become the king of the market, they organised powerful association when company do not fulfill there need.
If business do not work ethically then government also interfere . So to avoid government interference , to build good public image it is necessary for businessman to work ethically.
The current account is used to mark the inflow and outflow of goods and services
Answer:
The company should buy from an outside source rahter than manufacturing because each bottle manufactured costs $5 more.
Explanation:
Differential Analysis
Make Buy
Manufacturing Cost per bottle $ 67
Purchasing Cost per bottle $35
Freight per bottle $ 5
<u>Fixed Costs $ 22 </u>
<u>Total $ 67 $62 </u>
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The company should buy the bottles from the outside source because the manufacturing costs are higher than the purchasing costs and the fixed costs.
The fixed costs are the irrelevant costs that will continue whether bottles are manufactured or purchased.
Answer:
The correct option is;
B. Companies use GAAP when preparing financial statements
Explanation:
Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.
GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.
