62 KNOWLEDGE CHECK-UP Knowledge Check-Up questions are ten single-topic, multiple-choice questions designed to assess initial comprehension of the key chapter learning objectives. Answers to the Knowledge Check-Up (KCU) questions are available in the Answers tab below (ebook) and at the end of the chapter. 1. The form of business organization that enables limited owner liability is: a. Sole proprietorship b. Partnership c. Business entity d. Corporation 2. Accounting involves designing: a. Information systems to provide useful reports to mon- itor and control an organization's activities b. An efficient warehouse to enable free flow of goods c. An effective transportation system to deliver products efficiently to customers d. Marketing programs to help manage customer demands and anticipate future inventory requirements 3. The professional association CPA Canada requires its mem- bers to maintain a commitment to: a. Environmental sustainability reporting b. Ethical decision making to benefit the largest number of stakeholders c. Human resource programs that provide gender neutral equal opportunities and pay d. Providing mentor opportunities for new accountany to develop skills and experience 4. Ethics is defined as: a. Compliance requirements that can be established by the local government or trade association b. Beliefs based on our value system that enable us to differentiate right from wrong c. Functions performed by auditors employed within the organization with the purpose of evaluating the effi ciency of procedures d. Opportunities to give back to society through engaging in volunteer activities 5. Examples of ethical issues in the world of business include: a. Properly labelling products for customers to make informed decisions b. Selling products to customers at the lowest price possible c. Providing a guarantee to customers that products will last for a specified amount of time d. Building products with high-quality components to ensure durability OW CON 1. S

Knowledge Check-Up questions are ten single-topic, multiple-choice questions designed to assess initiai comprehtonsing the key chapter learning objectives. Answers to the Knowiedge Check-UP (KCU) questions are available in the Answers if bolow (obook) and at the end of the chapter. 1. The form of business organization that enables limited owner liability is: a. Sole proprietorship b. Partnership c. Business entity d. Corporation 2. Accounting invalves designing: a. Information systems to provide useful reports to mon: fror and control an organization's activities b. An efficient warchouse to enable free fow of gocts c. An effective transporation system to deliver products efficiently to customers d. Marketing programs to help manage customer demands and anticipate future inventory requirements 3. The prolessional association CPA Canada requires its mem. bers to maintain a commitment to a. Environmental sustanability reporting b. Ethical decision making to benefit the largest number of stakeholders c. Human resource programs that provide gender neutral equal opportunities and pay d. Providing mentor opportunities for new accountami to develop skills and experience 4. Ethics is defined as: a. Compliance requirements that can be established by the local government or trade association b. Beliefs based on our value system that enable us to differentiate right from wrong c. Functions performed by auditors employed within the organization with the purpose of evaluating the eftlciency of procedures d. Opportunities to give back to soclety through engaging in volunteer activities 5. Examples of ethical issues in the world of business include: a. Properiy labelling products for customers to make informed decisions b. Selling producrs to customers at the lowest price possible c. Providing a guarantee to customers that products will last for a specified amount of time d. Building products with highquality components to ensure durability