Concepts of Ethics and Professionalism in Business

Concepts of Ethics and Professionalism in Business Introduction Change is the only constant factor in everyday life. It is witnessed from the Stone Age to civilized age. When change affects life it also affects the environment and business. The business environment becomes extremely complex as change inflicts variety and diversity leading to deep and fundamental ways. Change in the values, environments of business based on the expectation of society has alerted business houses to realign its priorities. The changing economic, political, legal and social environment has also made the business and businessmen to consider the ethical approach to business. Therefore, there is paradigm shift from the goal of maximization of profit or wealth to ethical means to achieve them. The last 150 years have been marked the world over for rapidity of change ushered in by the advent of technology and industrial revolution. This period has also been marked for its attempt to generate unquestioning faith in human reason and intellect. The last century has witnessed that the intellect are becoming the cornerstones of the society. The rapid changes have improved the standard of living, also establishing a lot of sensible relationships in and around the society. There is a growing realization all over the world that ethics is virtually important for any business and for the progress of any society. Ethics makes for an efficient economy. Ethics is good in itself, ethics and profit go together in the long run and ethics alone can protect the society. An ethically responsible organization is one, which has developed a culture for caring for the people and for the betterment of society as a whole. Ethics has a considerable influence on the economy for efficient and smooth functioning. The government, the laws cannot always resolve certain key problems of the society and business. Ethical behavior enhances the quality of life. An ethically based economy can do wonders in the way of creating wealth or society. The task of business is to optimize the outcome of economic activity. It is the economic environment of business, which is the primary consideration in evaluating the business tactics. The present day economic environment of business is a complex phenomenon. The economic relations with the government, public, society and community influence the trend and structure of economy. People and society are part and parcel of an organization. People want and need to be ethical not only in their private life but also in public. The people are the ultimate sufferers if the affairs of the organization were conducted unethically which are detrimental to the society. Therefore, they have a concern over this. Over the last two decades, there has been a shift in the attitudes of corporate and their executives towards ethics. A silent revolution is in under way in business ethics today. The ideas, beliefs and attitudes associated with the profit ethic are being challenged as never before. The histori cal idea of the divine right of capital no longer applies. The changes in the values, cultures and customs lead to change, which in turn lead to re-engineering of ethics. The world of business ethics is quite broad and its tentacles spread into a number of areas in the larger sphere of business society relationship. The social responsibilities of businessmen, for instance, clearly involve ethics and morality. There is always a doubt in the mind of the businessmen about what is and what is not ethical. It is difficult to understand business or business society relationships, without knowledge of the ethics. Business ethics is what society expects from business. Mark Twain once said: To be good is noble. To tell people how to be good is even nobler. *FCS, Senior Reader in Corporate Secretaryship, Alagappa University, Kraikudi. **Ph.D. What is Business ethics? Ethics is defined as the study of standards of conduct and moral judgment. Ethics is the study of what ought to be, what is the ultimate good and how to achieve it. People have always thought that the primary purpose of business is to serve society. Business must have a social commitment otherwise business cannot enjoy social sanction. It is a study of human actions in respect of being right and wrong. Ethics is an attempt to discover that ought to be. Ethics forms critique of both ultimate values and goals and the means used in trying to achieve them. The history of business ethics displays a growing recognition of the need to examine the social transformations that have impacted organization, management and society. Ethics is a mass of moral principles or sets of values about what conduct ought to be. Ethics is a written or unwritten set of codes or principles governing business or profession. Ethics is a study that constitutes good and bad conduct, including related values. It has to do with fulfilling the relationship with people and society at large. When this applied in a business context, it becomes business ethics. Ethics in business has become one of the most challenging issues confronting the whole business community. Establishing ethical climate is like starting an endless marathon. The first step should be to change unethical behavior. It is an on going process. It never stops. Ethics is a contract between the business and the community based upon certain values of principles. An effective program of ethics requires involvement and commitment from all. The constituents should ensure commitment towards ethical behavior at all levels. Ethical consideration and ethical behavior should run thro the marrow of the bones and should be carried by the capillaries to all parts. Maximizing return has made a paradigm shift towards to the concept that it should be ethically achieved. Mr.J.R.D. Tata in his own words, ethical values have too often been ignored in recent years in the belief that quicker profits would be result. Major attributes of ethics Concept : The field of ethics may be conceived as a discipline, science, study or evaluation. Content : The subject matter of ethics is concerned with what is good or bad, right or wrong. Judgment : Judgment is required to determine whether human action is ethical or not. The judgment concerns the overt act, not the motivations behind it. Behavior and its cause is that what which is judged. Standards : Judgment is based upon standards, which are, of course, values. Values : The final element of ethics therefore, is the set of values and criteria used as standards for judging human conduct. Need for Ethics Business ethics are very much influenced by social movements, social system and social preferences. No business can survive or grow without social harmony. Individuals values, however best they may be, are not sufficient to attain the maximum level of ethical performance. Ethics and social responsibility are necessary for the survival because of the highly competitive climate that prevails today. The climate in which business operates has become cold and unfriendly to day as a result of revelations of unethical behavior that have rocked nations and the world. Ethics is crucial for an efficient and smooth operating economy. An ethically based capitalism can do wonders in the way of creating wealth for society. According to economic philosopher, Adam Smith: that our system of capitalism does not work well unless it has the moral co-operation of its participants. Jewish theologian wrote: Its what people do when they all are alone, when one is looking that makes all the difference betwe en civilization and the jungle. Ethics is important because either government or legislation cannot do everything to protect society. Technology races ahead much faster than the government can regulate. People in an industry often know the dangers in a particular technology better than government regulators who sit at a distance. Ethics is good in itself. Ethics is important to create a smoothly and efficiently running economy. The Bhagavad Gita asks us not consider only the fruits of our actions. It invokes the notion of passionless action. The concept of Gita of doing ones duty without seeking for the fruits, Manus concept of inheriting debts as well as property, the Mauriyan idea of accountability provide a basis for Gandhijis belief that politics and business must work hand in hand for the development. Factors having impact on ethics Ethical considerations vary by class, structure, economic group, industry, professional group and so on. Business ethics has to be on par with the ethical code of the society in which it operates. It is essential that the business adheres to the well-established ethics. The following are the factors that creates the basis to ethical consideration (a) Value, (b) Culture,and (c) Transformation. VALUE Values are additions or accretions to the image. Values are not fixed. They change. As they undergo change the society and its constituents also have to undergo the process. When the values undergo a change it takes the culture along with it. Values are crucially important factor in business relationships. Values create credibility with the public. It will certainly add value to the concern and create more credibility by being morally responsible and accountable. This creates a confidence in those who are directly and indirectly involved. An organization perceived by the public to be ethically, socially concerned will be honored and respected even those who have no knowledge of its actual functioning. Not only this enhances the credibility within itself but also with its employees. It creates a feeling of oneness among employees having a common goal. For an individual business values derive from multitude of sources, such as mission of business as a social institution, the nation in which business is located, the type of industry in which it is active and the nature. Over a period of time value become institutionalized with regard to business and society. These values perform two important functions. First they form as a guide to business environment. Second, they become strong motivators for people in business. They become the key factor in the system relationship of business with society. Business has certain rights but it also has certain responsibilities to society and in turn society has certain rights and responsibilities in regard to business activity. Value-ethical attitude helps management for better decision-making. The decisions are in the interest of public, society and environment. Ethical decisions are in the interest of public, society and environment. Value added rather based ethical decision-making will make an organization and its decision-maker to look into all aspects of economic, social, politico-legal aspects. CULTURE Culture is described as human environment of humans. The system aspect of culture is the set of relationship that makes it possible for human beings to create a society to pass the accumulated learning of the species from generation to generation and continue to make the accumulations of learning. Culture refers to activities, thoughts, feelings and artifacts which man acquires as a member of the society. Cultural differences separate the ethical attitude of different people. Much more emphasis is given to building and developing relationship and much less emphasis is given to the abstract concept issues. TRANSFORMATION Transformation is yet another reason for the change in culture and values. Transformation with regard to communication, viewing, travelling, shopping, working and playing envisage a change in the ethics and ethical practice. These phenomenal growth and development in these areas brought about a social change amongst public, society and business. These have improved the life style and quality of life, which in turn has created a change in the cultural and cultural values bringing out a revolutionary change in the ethical standards. Change is a permanent feature on mans social life and social system in the form of transformation. The economy as a whole has been through five revolutions in the twentieth century, which have transformed its basic structure and method of functioning. IMPORTANCE OF ETHICS Ethics corresponds to basic human needs. Most people want to be ethical not only in their private lives but also in their business affairs. People want to be part of the organization, because they perceive its purpose and activity to be beneficial to society. The basic ethical needs are probably one of the most cogent reasons for ethical concern on the part of organizations. Ethics create credibility with the public. A company perceived by the public to be ethically and socially concerned would be honoured and respected even by those who have no intimate knowledge of its actual working. Gaining the confidence of the community is vital to the business sector. Public opinion is the most powerful force in a democratic society. It is a way of achieving higher standards ethical behavior. Ethics give management credibility with employees. It provides a common language for aligning a companys leadership and its people. Ethics when perceived by employees as genuine create common goals, values and language. The management has credibility with its employees because it enjoys credibility with the public. It creates oneness among the employees. Ethics help in better decision-making. Ethical decision made by the company will always be in the interest of the shareholders, stakeholders, public and their employees. This is because respect for ethics will force the management to consider all aspects of a question both economic, social and ethical aspects. ETHICS IN MANGEMENT Ethics are principles of conduct used to govern the decision-making and behavior of an individual or group of individuals. Management is concerned with making decisions within an organization. Ethics of the individual or group making decision have significant implications for the organizations stakeholders, employees, customers, shareholders, suppliers, the government and the public at large. It is important to develop code of ethics for decision-making. A code of ethics is a written document that outlines the principles of conduct to be used in making decisions. Code of ethics is based on philosophical approaches: justice, individual rights and utilitarianism. The principle of justice involves making decisions based on truth, without bias and consistency. The principle of individual rights concerns making decision based on protecting human dignity. The principle of utilitarianism involves making decisions directed towards promoting the greatest number of people. The Laws relating to ethics in business speaks about consumer protection, product safety, shareholders and stakeholders rights and environmental protection. Having a code of ethics with an implementation program is the minimum requirement for reputation of the management. Ethics focus its attention on solving not only the internal problems of the concern but also of the society at large. The economy as a whole has been thro five revolutions in the twentieth century, which have transformed its basic structure and method of functioning. First, the organizational revolution led to increase in number, size and power of organizations of all types. Second, the corporate revolution expanded the scale of business enterprise and led to dominate of modern big business corporations. Third, the managerial revolution saw the emergence of a class of professional mangers who took over the active control of large corporation. Fourth, the property revolution separated ownership and management and diffused property righ ts within the corporation. Finally, the capitalist revolution brought about a change in the moral order of capitalism and greatly enlarged the public role of business and the economic role of government. In this changed socio-economic environment the focus of business ethics is on social responsibility. Social responsibility is a reaction to the goals of the society and the economic, technological, social and political forces that mould the society. The ethics in the business community is not alienated or any different from the ethics in the society at large. The codes of ethics, legislative changes and the standards will not result in the desired holistic change. It is the mind set of the concerned people which matter most and not the stick that forces compliance with reluctance. Hence, there is an imperative need on the part of the corporate sector and profession to create a higher standard of openness, truthfulness, honesty, clarity, transparency and accuracy to ensure that all the stake holders have the best possible timely information. The corporates in general and professionals in particular must adhere to the highest ethical standards and assume a positive duty to unfold and update equivocally material information. Institutionalizing Ethics A business that seriously desires to operate in an ethical environment has to institutionalize ethics by drawing up a company policy and code of ethics, familiarizing all concerned at all levels with the code of ethics and ensuring the implementation. Code of ethics is nothing but a blue print of what is going to followed and adopted by the company from then onwards. The companys ethical code should be printed and circulated to all those who deal with the company, by clearly bringing out what is unethical conduct. The company may appoint ethics committee which offer training within and outside. The duty of the committee is to report periodically to the Board and offer suggestion for the betterment. The committee must also review the code of ethics from time to time keeping pace with the changing environment. Business ethics has to be practiced and preached. Before setting business standards, ethics and morality have to be internalized so that they become a part of the blood stream. I f the corporate becomes committed to self-imposed standards of business morality the whole countrys standards could be influenced. Development of Program of Ethics Merely endorsing a standard code or copying that of another will not suffice. It is important to find out on what topics and areas require guidance. Select a prominent personality to endorse the business ethics policy. Choose a framework, which addresses issues as they affect different constituents or shareholders of the company. The usual ones are: shareholders, employees, customers, suppliers, and local/national community. Some might even include competitors. The code needs piloting perhaps with a sample drawn from all levels from different locations. The code of conduct framed should be distributed in booklet form. Publish and send the code to all concerned. Values and ethics are matters of governance. The board must be notified to involve themselves for ethical policing. Practical examples of the code in action should be introduced into all areas. Training for all concerned. Review mechanism should be established. A code master needs to be appointed. facets of business ethics Stakeholder/Shareholders or other providers of money Transparency and openness in all dealings. Providing adequate information to the shareholders/stakeholders. The investment protection and return on investment. Employees How the business values employees ? The companys policies on: working conditions, recruitment, development and training, rewards, health, safety security, equal opportunities, retirement, redundancy, discrimination and harassment. Customer Relations Customer satisfaction. Quality of product or service dealt. Fair pricing. After-sales service. Society/Community The laws of the society and community are to be respected. Environmental protection, Pollution abatement, Energy Conservation. In short improving the standard and quality of life. Government Business ethics from the point of view of business and businessmen is to provide information to the government in all matters that is required to be. Following the guidelines, policies and standard set up by the government. Paying the taxes that is legitimately due to the government. A growing global role People around the globe are more connected to each other than ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent. International communication is commonplace. This phenomenon has been titled globalization. While some people think of globalization as primarily a synonym for global business, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labour organizers, journalists, academics, and many others to work on a global stage. It means communication, interconnectedness. It means accomplishing things easier, cheaper, and quicker. Something on a bigger scope than local. It means opportunity, reducing trade barriers, growth. It means that there are many different ways to do things, all of which are valid in their own right. It means a composite of things, an aggregate view. It means reallocating resources away from poorer nations to wealthier nations. Its meaning depends on your point of view. Globalization is a medium which touches nearly every aspect of contemporary live in the civilized world. Globalization is the engine of trade and of explosive economic prosperity. Globalization is a dynamic concept of universal proportions. The result is the pressure on business to play a role in social issues will continue to grow. There is a growing interest, therefore, in businesses taking a lead in addressing those issues in which they have an interest where government has failed to come up with a solution. It is the continuing commitment by business to behave fairly and responsibly and contribute to economic development while improving the quality of life as well as of the community and society at large. Unless there is accountability and transparency in the dealings the business cannot be socially responsible. The values of accountability, social responsibility, long-term vision, and ethical behavior have become more important. The wealth maximization or profit maximization begins at the floor level leading to value addition. When once value is added the concept of social responsibility would creep in. The present day scenario is different and far from reality. The world is entering a century with unprecedented changes for peace and progress. Globalization is the buzzword in the context. Business is the silken thread that binds the whole world. Therefore globalization of ethics is needed. The need is envisaged in the following areas. Global need for Stable and honest governments Transparency and openness to promote honesty in governments Commitment to internationally recognized human rights Developmental programs for environmental protection, pollution control, energy conservation Evolution for world code of ethics for business Conclusion A society cannot function without a set of values. Society is undergoing social change. Business system is a product of customs and beliefs of the society in which it exists. Ethics is a study of what is right and wrong. Ethical considerations decide whether the business enterprise is on par with the societys needs. Society is undergoing social change due to ethical considerations. So long as the value systems and philosophies of business go together, society will accept it. The resultant contribution would be positive. Social and ethical challenges in business take several forms and the impact is multidimensional and corporate governance is the key phrase. The changes that are taking place in the internal and external environment in which the business operates gave rise to a re-identification of their mission statement as BE INFORMED. BE INVOLVED. MAKE A DIFFERENCE. This new ethical standard and social attitude is blooming everywhere. References 1.Bowie, Norman E; Business Ethics; Prentice Hall Inc., New Jersy. 2.Davis Keith Blomstrom.R.L.; Business Society; McGraw Hill, New York. 3.Donaldson, John Others; Business Ethics; Academic Press, London. 4.Dr. Robert F. Drainan; Globalizaion and Corporate Ethics; JRD TATA foundation for ethics in Business, XLRI Jamshedpur. 5.Kumar.A, Joshi.K.M, Jagni.B.J.; Ethical Issues in Management; Commonwealth Publishers, New Delhi. 6.Mathias,T.A.Sj; Corporate Ethics; Allied Publishers, New Delhi.

Biochemistry

The first semester of the two part series covers the topics chemistry, histology, genetics and inheritance, and the integument, skeletal, muscular, digestive, and reproductive systems. General objectives: 1. To discuss a basic understanding and working knowledge of the human body. 2. To outline the concepts of homeostasis and interdependence of all body systems. 3. To provide an Introduction to the disruption of homeostasis (pathology) as contrasted with normal processes, particularly as they apply to the allied health occupations.Course learning outcomes: As part of the requirements of accreditation Course Learning Outcomes (COOL) have been developed that represent examples of capstone outcomes that each course of Anatomy and Physiology 101 needs to become skilled at and evaluated in a standardized format. The three CLOSE for this class are listed below. You will have a test on these as either a quiz during the semester or as part of the comprehensive examination. SKIN, MUSCLES, DIG ESTION 1 . Describe the typical anatomy and physiology of the Integument (skin) Including epidermal derivative, sensory receptors, and appropriate glands. . Describe the anatomy and physiology muscle contraction including the events in the excitation and contraction coupling of skeletal muscle. 3. Outline the events of the digestion of a cheeseburger including the mechanical and chemical modes of digestion and the various means of absorption within the gut for the various nutrients Included. Master (102) Recommended preparation: High school or college biology and/or chemistry are strongly recommended. Format: Classes meet two days per week. One and one half hours of theory (lecture) followed by three hours of laboratory.A. Be prepared for a short quiz every Monday that will typically cover the previous weeks' lecture material. These will start at the beginning or end of class so it will be important to be in class on time and remain for the entire period. B. During the semester ther e will be at least four midterm examinations. C. A comprehensive final examination will be given n the last day of class and is a requirement to receive a passing grade. D. Please read over the textbook and lab assignments BEFORE coming to class.Several laboratory sessions will involve the study and use of cadavers and preserved specimens. Students not wishing to work with these specimens for ethical or health concerns should contact the instructor so an alternative assignment can be determined. Attendance: If you cannot make it to class, it is your responsibility to check which assignments are due when returning back to class. Exchange telephone numbers and use the buddy system. Please do not call or e-mail for an excused absence. All absences hurt your chances of being successful in this fast paced class and the quizzes cannot be made up.If you need to contact me because of extended absence please e-mail me in this regard. Drop Policy: It is the instructor's responsibility to drop students that are a â€Å"no show'. This is accomplished prior to the census date. A â€Å"no show' is someone who never attended a single class session. In addition you will be dropped for excessive absences. Excessive absences are typically more than four class sessions in a row. Exceptions may be made depending on circumstances and the student's chances of being successful.Makeup's and late work: Quizzes cannot be made up. Labs and Tests can be made up at the discretion of the instructor in extenuating circumstances with official documentation (medical note, police report, etc. ) No tests can be made up after two weeks of the initial test date and no make-ups are given during the last two weeks of class. Extra credit: Extra credit may be given at the instructor's discretion Laboratory credit: Lab credit is based solely on the practical exam. There will be 4 racial exams and each exam is worth 10% of your grade.Blackboard material: During the semester there may be extra materia l on blackboard. Be sure to check it regularly. Grading policy: 5 Written Exams (including final) worth 10% each = 50% 10 Quizzes worth 1% each = 10% 4 Lab Practical Exams Worth 10% each = 40% The point percentage for a particular grade is as follows: â€Å"D† Grade—- â€Å"F† Grade———-less than 60% â€Å"C† Grade———– 70-79% The grade of â€Å"F† is given to a student who obtains less than 60% of the points possible in class and/or is found cheating in class.See Policy) The grade of â€Å"D† is given to those students who satisfactorily obtained at least 60% of all the points possible in class. The grade of â€Å"C† is given to the student who can assimilate the lecture and lab material and is able to obtain 70% of all the points possible in class. The grade of â€Å"B† is given to the student, who in addition to fulfilling 80% of the previous objectives, is also able to display that he or she can satisfactorily answer questions beyond those discussed in lecture material. Other sources of information include the textbook and blackboard reading recommendations.The grade of â€Å"A† is given to the student who fulfills the previous objectives and is also able to integrate information to solve novel situations thereby clearly demonstrating the concept of critical thinking. Cheating policy: Cheating is any activity that gives an unfair advantage to a particular student. These activities include but are not limited to: using notes or books on examinations of any kind, looking at or copying someone else's paper, changing graded papers for credit, not putting â€Å"late† on papers requiring that designation, or falsifying documents.If someone is caught cheating, he r she will receive an automatic zero for whatever work was being completed. A report called the â€Å"Violation: Student Code of Conduct† will be generated within 5 days of the inci dent . If a student is caught cheating a second time the student will receive an â€Å"F† in the class. This report is electronically submitted to Dean Patrick Springer. He will contact you and explain the actions decided at that point in time. I suggest you check the college catalog for the current policy regarding due process and student discipline.Cheating in a flagrant manner may also be exposed to student disciplinary action as warranted. During the test you must not have a cell phone or other electronic device. A device that is within reach and turned on during the test constitutes cheating and you will receive a zero on the test at hand and the appropriate notifications submitted. If you are assigned to a group you may not change your group designation without permission. Non-participation in a group is cheating. It is the responsibility of the group to enforce this and act as professionals. A nonparticipating needs to be informed early on and given an opportunity to c hange.As a last resort it is up to the group to inform me as early as possible where corrective action will take place. Americans with Disabilities Act: Mat. San Action College abides by the Americans with Disabilities Act and Section 504 of the Rehabilitation Act of 1973 that prohibits federal and state agencies or programs from discriminating against qualified individuals with disabilities. If you have a documented disability that limits a major life activity which may have some impact on your work in this class and for which you may require accommodations, please see me or Disabled Students Programs and Services.If there is any accommodation that you require prior to being in the program please let me know and I will do my best to accommodate your needs. Safety: Safety is the most important issue in the laboratory. Always work in a safe manner. Many labs deal with sharp objects, flammable material, and toxic or infectious substances. If you are ever in doubt about a procedure, as k, never assume. Note the proper disposal of wastes and the location or the floor. All food items must be in a backpack or on top of or in the refrigerator. Kibbutz's Hot Buttons: 1 . Eating or drinking in class.Please keep your food stored in your backpack or the refrigerator in the classroom. Every day the refrigerator is cleaned out so that other course sections may have room for their food. You will lose safety percentage points if you have food or food containers on the floor or under the cabinet. 2. Not putting the microscopes away clean and with the arm facing outwards. 3. Cell phones and pagers that go off during lecture times. Testing during lecture is rude and will not be allowed. 4. Students who ask me if it is okay to leave early. If you want to leave class early you do not need my permission.This is a fundamental difference between high school and college. Also do not ask if you will miss anything. Use the buddy system. 5. Smoking on campus especially near doorways, hal lways, and near the A&P building. If you must destroy your lungs then please walk the short distance to the street sidewalk and please pick up your butts. Privacy: Students have a right to privacy. Anyone not wanting their papers to be returned in the out box can get their papers returned to them in person during the office hours directly following the class. Final comment: I wish all of you the best of earning.To learn how your own body works can be very interesting. It is unfortunate that all of these rules must be spelled out. It is a sign of the times but is still not representative of how the class functions. In large part students accommodate to the rules and procedures and the class in general runs smoothly without incidents. For those of you that have taken the time to read this syllabus you will be rewarded. The first quiz will contain questions regarding its content. In general any material that is handed out should be read and considered â€Å"testable material†.

Unit 3 Quiz

1. Which of the following is not a cost classification? (Points : 2) Mixed Multiple Variable Fixed 2. Which of the following is not a fixed cost? (Points : 2) Direct materials Depreciation Lease charge Property taxes 3. At the break-even point of 2,500 units, variable costs are $55,000, and fixed costs are $32,000. How much is the selling price per unit? (Points : 2) $34. 80 $9. 20 $12. 80 $22. 00 4. The relevant range of activity refers to the (Points : 2) geographical areas where the company plans to operate. activity level where all costs are curvilinear. levels of activity over which the company expects to operate. evel of activity where all costs are constant. 5. A CVP graph does not include a (Points : 2) variable cost line. fixed cost line. sales line. total cost line. 6. Which one of the following is not an assumption of CVP analysis? (Points : 2) All units produced are sold. All costs are variable costs. Sales mix remains constant. The behavior of costs and revenues are line ar within the relevant range. 7. Variable costs for Foley, Inc. are 25% of sales. Its selling price is $80 per unit. If Foley sells one unit more than break-even units, how much will profit increase? (Points : 2) $60. 00 $20. 00 $26. 66 $320. 00 8.Tiny Tots Toys has actual sales of $400,000 and a break-even point of $260,000. How much is its margin of safety ratio? (Points : 2) 35% 65% 154% 53. 8% 9. The following monthly data are available for Wackadoos, Inc. which produces only one product: Selling price per unit, $42; Unit variable expenses, $14; Total fixed expenses, $42,000; Actual sales for the month of June, 4,000 units. How much is the margin of safety for the company for June? (Points : 2) $70,000 $105,000 $63,000 $2,500 10. Hess, Inc. sells a product with a contribution margin of $12 per unit, fixed costs of $74,400, and sales for the current year of $100,000.How much is Hess's break-even point? (Points : 2) 4,600 units $25,600 6,200 units 2,133 units Time Remaining: 43. H ess, Inc. sells a product with a contribution margin of $12 per unit, fixed costs of $74,400, and sales for the current year of $100,000. How much is Hess's break-even point? (Points: 4) 4,600 units $25,600 6,200 units 2,133 units BEP = $74,400/$12 = 6,200 units 46. The following monthly data are available for Wackadoos, Inc. which produces only one product: Selling price per unit, $42; Unit variable expenses, $14; Total fixed expenses, $42,000; Actual sales for the month of June, 4,000 units.How much is the margin of safety for the company for June? (Points: 4) $70,000 $105,000 $63,000 $2,500 UCM = $42 – $14 = $28 BEP = $42,000 / $28 = 1,500 units BEP $ = 1,500 ? $42 = $63,000 Expected Sales $ = $42 ? 4,000 = $168,000 MOS = $105,000 41. Tiny Tots Toys has actual sales of $400,000 and a break-even point of $260,000. How much is its margin of safety ratio? (Points: 4) 35% 65% 154% 53. 8% Margin of Safety = $400,000 – $260,000 = $140,000 Margin of Safety Ratio = $140,000 /$400,000 = 35%

Analysis Of The Book Leave None From The Rwanda Genocide...

After the World War II, the international community vowed ‘never again’ but that promise was never kept. The world experienced a number of conflicts that in total claimed more lives and violated more human rights than the World Wars. The Rwanda genocide was one of the worst of these conflicts that alone claimed the lives of half a million people, displaced many vulnerable families, created an increased number of refugees, and indirectly contributed to two successive multistate wars in the Republic of Congo. ‘Leave none to tell the story: Genocide in Rwanda’ is a book written by Allison Liebhafsky Desforges, a human rights activist, historian and also the author of the book; Defeat is the only bad news: Rwanda under Musinga, 1896–1931. Allison served as the Senior Advisor for the African continent at Human Rights Watch organisation. With the help of a team of researchers, she put together this very detailed and informative account of the genocide in Rwanda. The book ‘Leave none to tell the story: Genocide in Rwanda’ was published by the Human Rights Watch in June, 1999. It gives a detailed account of how events unfolded; arguing that the genocide did not just happen by accident; that it was a very carefully planned operation, throwing light on the failure of the international community to act quickly to stop the gross human rights violations and crimes against humanity; Allison recounted the many opportunities that could have been exploited to prevent or stop the massacre and