Ethical & Accounting Concepts

3. It is considered a ____________, when a business records the wrong profit in order to avoid paying business tax to the department.
7. When Angel, the accountant complicance with all the laws and regulations, which principle is he following?
11. Financial information cannot be shared unless authorized to do so, which ethical principle is applicable?
13. A company record the purchase of a pack of pens, staples, and paperclips in one account called stationary. Which concept is being followed.
14. Whenever who use your personal opinion to make judgement of a matter at work, it is said that your are ______________.
16. When you are always straightforward and honest, which principle are you following?
17. The busienss incurred motor expenses in July 2017, the service was paid until January 2018. The expense was still record in July 2017.
19. A company will use the LIFO Method in a five year time period.

1. This concepts states that every transaction must have two entries.
2. Rebecca wants to continue studying eventhough she already has a job. What principles is she following?
4. In the business environment, James always try to communicates with his colleagues which is considered a/an _______________ ethical principle.
5. Which concept records Assets at original cost.
6. This principles states that you must avoid conflict of interest at all times.
8. This concepts records sales when earn not when money is received.
9. When a business chooses to continue operation even when sales are low.
10. The concept considere the owner and business as separate entities.
12. This is the morals that govern human behavior.
15. The business records a debtor as bad debt after 2 years of no-payment in order to avoid further losses.
18. If an employee does not work to the best of his ability and his always receiving personal calls at work. This behavior is considered _______________.
20. This is one of the four factors that influence ethical behavior as it differs according to the country.