MULTIPLE CHOICE Choose the one alternative that best complet

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) 1) To ensure a profit in the current year, the manager ships out pre-ordered merchandise the last week of December, instead of in mid-January as the customer instructed. This early shipment could be a violation of which ethical standard? A) Confidentiality C) Integrity B) Competence D) All of the above 2) Which element of the value chain would a technical support hotline for customers be considered? 2) A) Customer service C) Marketing B) Design D) Distribution 3) Which of the following represents a sunk cost? 3) A) An outlay expected to be incurred in the future B) A historical cost that is never relevant C) A cost that is relevant to any decision D) A historical cost that is always relevant 4) Communicating information fairly and objectively is an example of which ethical standard? C) Confidentiality D) Integrity A) Competence B) Credibility 5) 5) Which one of the following financial reports is required to be audited by an outside entity? A) Annual financial statements C) Monthly financial statements B) Annual financial budgets D) All of the above 6) 6) A merchandiser\'s purchases are equivalent to a manufacturer\'s A) cost of goods sold. C) raw materials inventory B) cost of goods manufactured. D) work in process inventory. 7) 7) The value chain is used by A) only service and merchandising businesses. B) only manufacturing and merchandising businesses. C) service, manufacturing, and merchandising businesses. D) only service and manufacturing businesses. 8) Which of the following is not used in a cost-benefit analysis? A) Amounts for future costs of project B) Future benefits to be received from project C) Book value of past investment in equipment D) Amount needed to invest in project initially 9) Not disclosing sensitive information is an example of which ethical standard? B) Confidentiality C) Credibility D) Integrity A) Competence

Solution

Question Option 1 C Integrity 2 B Design 3 B A historical cost that is nevet relevant 4 B Credibility 5 A Annual financial statements 6 B Cost of goods manufactured 7 C Service, manufacturing and merchandising businesses 8 C Book value of past investment in equipment