Question 1

Kevin Lowe's ethical dilemma in the Eating Time case can best be described as whether to:

Accepted Answer

A)   Date another staff member of the CPA firm
B)   Inform his supervisor about a lack of diligence of other staff accountants
C)   Quit his job because he can't meet the firm's expected quality of work
D)   Devote time on an audit and not charge it to the jobE) A) and C)
F) All of the above

Question 2

In the Lone Star School District case, the auditors were mostly concerned about:

Accepted Answer

A)   The behavior of a staff member toward client personnel
B)   The falsification of the financial statements
C)   The lack of independence of the audit team
D)   The lack of documentation for travel and entertainment expensesE) A) and C)
F) C) and D)

Question 3

The credibility standard in the Statement of Ethical Professional Practice of the IMA requires that an accounting professional should:

Accepted Answer

A)   Communicate information fairly and objectively
B)   Disclose all relevant information that might affect the intended user's understanding of the reports, analyses or recommendations
C)   Disclose delays or deficiencies in information, timeliness, processing or internal controls in conformance with organization policy and the law
D)   All of the aboveE) A) and D)
F) A) and C)

Question 4

George is in the middle of a high stakes poker game when he notices what he thinks is cheating by another player. It appears to George that this player took a card from his lap and switched it with a card that he was dealt. If George is a utilitarian thinker, he should:

Accepted Answer

A)   Accuse the alleged cheater of cheating in front of all the other players
B)   Consider what might happen if he accuses the player of cheating and he is wrong
C)   Speak to the alleged cheater during a regularly scheduled break and tell him not to do it again
D)   Forget about the whole matterE) A) and B)
F) B) and C)

Question 5

If one's reputation is tainted it may create a:

Accepted Answer

A)   Conflict of interest
B)   Loss of independence
C)   Lack of trust
D)   Loss of objectivityE) C) and D)
F) B) and D)

Question 6

Responsibility goes hand in hand with:

Accepted Answer

A)   Respect
B)   Loyalty
C)   Courage
D)   AccountabilityE) All of the above
F) B) and D)

Question 7

Civility requires all but the following:

Accepted Answer

A)   Restraint
B)   Politeness
C)   Respect
D)   DisregardE) B) and D)
F) B) and C)

Question 8

Which of the following is NOT a likely rationalization a student might use to justify cheating on an exam?

Accepted Answer

A)   Ethical relativism
B)   Situational ethics
C)   Cultural conditioning
D)   Fair treatmentE) A) and D)
F) All of the above

Question 9

Jane finds a material misstatement while auditing a client's accounts receivables. Her senior tells her to ignore the misstatement so that the client does not get upset. Jane wants to be viewed as a team player in order to advance in the firm so Jane follows her senior's instructions and ignores the misstatement. Which ethical theory did Jane use to make her decision?

Accepted Answer

A)   Egoism
B)   Justice
C)   Virtue ethics
D)   UtilitarianismE) B) and C)
F) A) and D)

Question 10

Decisions that are made based on the underlying circumstances of a particular matter can be best characterized by:

Accepted Answer

A)   Ethical Collectivism
B)   Situational ethics
C)   Ethical relativism
D)   Judgmental IndividualismE) None of the above
F) All of the above

Question 11

Bob is being pressured by his superior to go along with improper accounting and told he is expected to be a team player. Which of the following statements best characterizes those expectations?

Accepted Answer

A)   Independence
B)   Confidentiality
C)   Loyalty
D)   UtilitarianismE) All of the above
F) A) and C)

Question 12

Are search results in Google, YouTube, Facebook, Twitter, and other social media sites fair game, specifically when an employer is looking to fire an employee?

Accepted Answer

The ethics involved in hiring are differ...

Question 13

The biggest problem in applying virtue theory to decision making is:

Accepted Answer

A)   It can be difficult to identify virtues
B)   It relies on moral absolutes in decision making
C)   It can be difficult to determine virtues to distinguish equals from unequal claims in decision making
D)   Conflicts between virtues may make decision making more difficultE) A) and B)
F) A) and C)

Question 14

Which of the following is NOT an element of trustworthiness according to the Six Pillars of Character?

Accepted Answer

A)   Reliability
B)   Loyalty
C)   Fairness
D)   HonestyE) B) and C)
F) None of the above

Question 15

The method of ethical reasoning that requires selecting the correct moral rule that produces the greatest benefits over harms is:

Accepted Answer

A)   Act Utilitarianism
B)   Rule Utilitarianism
C)   Rights Theory
D)   JusticeE) All of the above
F) C) and D)

Question 16

In the Moral Turpitude case, the primary ethical issue in the case is:

Accepted Answer

A)   Falsification of financial statements
B)   Violation of the acts discreditable
C)   The lack of independence of the audit team
D)   An inappropriate relationship between a supervisor and subordinateE) A) and B)
F) B) and D)

Question 17

Eddie paid an $8 restaurant check with a $10 bill. The waitress gave him $12 back. The most ethical action for Eddie is to:

Accepted Answer

A)   Keep the extra $10
B)   Inform the waitress of her overpayment
C)   Inform the manager of the restaurant of the overpayment
D)   Leave a larger tip for the waitressE) A) and D)
F) A) and B)

Question 18

Describe a situation you have encountered in your personal life where you did not follow the law because you judged another alternative to be more ethical. Don't use the example in the text of driving on a two-lane divided roadway. Why did you decide to do that act?

Accepted Answer

Sometimes in natural disasters like a fi...

Question 19

The biggest problem in implementing a rights approach to decision making is:

Accepted Answer

A)   The interests of others may be subservient to self-interests
B)   It is difficult to weigh harms and benefits
C)   It relies on moral absolutes
D)   It can be difficult to determine criteria to distinguish equals from unequal claimsE) B) and C)
F) C) and D)

Question 20

In the Shifty Industries case, the primary ethical issue can be stated as:

Accepted Answer

A)   Whether an accountant should claim a higher section 179 deduction than allowed by law.
B)   Whether an accountant should claim lack of diligence of other staff accountants.
C)   Whether an accountant should claim inflated expenses on the company tax return.
D)   Whether an accountant should claim lack of competence by other staff accountants.E) A) and D)
F) All of the above

Exam 1: Ethical Reasoning: Implications for Accounting

Describe a situation you have encountered in your personal life where you did not follow the law because you judged another alternative to be more ethical. Don't use the example in the text of driving on a two-lane divided roadway. Why did you decide to do that act?

Correct Answer
verified
Sometimes in natural disasters like a fi...
View Answer

Eddie paid an $8 restaurant check with a $10 bill. The waitress gave him $12 back. The most ethical action for Eddie is to:

Correct Answer
verified

Which of the following is NOT an element of trustworthiness according to the Six Pillars of Character?

Correct Answer
verified

George is in the middle of a high stakes poker game when he notices what he thinks is cheating by another player. It appears to George that this player took a card from his lap and switched it with a card that he was dealt. If George is a utilitarian thinker, he should:

Correct Answer
verified

The biggest problem in implementing a rights approach to decision making is:

Correct Answer
verified

Civility requires all but the following:

Correct Answer
verified

Kevin Lowe's ethical dilemma in the Eating Time case can best be described as whether to:

Correct Answer
verified

If one's reputation is tainted it may create a:

Correct Answer
verified

In the Moral Turpitude case, the primary ethical issue in the case is:

Correct Answer
verified

The method of ethical reasoning that requires selecting the correct moral rule that produces the greatest benefits over harms is:

Correct Answer
verified

Decisions that are made based on the underlying circumstances of a particular matter can be best characterized by:

Correct Answer
verified

In the Shifty Industries case, the primary ethical issue can be stated as:

Correct Answer
verified

Bob is being pressured by his superior to go along with improper accounting and told he is expected to be a team player. Which of the following statements best characterizes those expectations?

Correct Answer
verified

Responsibility goes hand in hand with:

Correct Answer
verified

Which of the following is NOT a likely rationalization a student might use to justify cheating on an exam?

Correct Answer
verified

The credibility standard in the Statement of Ethical Professional Practice of the IMA requires that an accounting professional should:

Correct Answer
verified

Correct Answer
verified

The biggest problem in applying virtue theory to decision making is:

Correct Answer
verified

Are search results in Google, YouTube, Facebook, Twitter, and other social media sites fair game, specifically when an employer is looking to fire an employee?

Correct Answer
verified
The ethics involved in hiring are differ...
View Answer

In the Lone Star School District case, the auditors were mostly concerned about:

Correct Answer
verified

Exam 1: Ethical Reasoning: Implications for Accounting

Describe a situation you have encountered in your personal life where you did not follow the law because you judged another alternative to be more ethical. Don't use the example in the text of driving on a two-lane divided roadway. Why did you decide to do that act?

Correct AnswerverifiedSometimes in natural disasters like a fi...View AnswerShow Answer

Eddie paid an $8 restaurant check with a $10 bill. The waitress gave him $12 back. The most ethical action for Eddie is to:

Correct AnswerverifiedShow Answer

Which of the following is NOT an element of trustworthiness according to the Six Pillars of Character?

Correct AnswerverifiedShow Answer

George is in the middle of a high stakes poker game when he notices what he thinks is cheating by another player. It appears to George that this player took a card from his lap and switched it with a card that he was dealt. If George is a utilitarian thinker, he should:

Correct AnswerverifiedShow Answer

The biggest problem in implementing a rights approach to decision making is:

Correct AnswerverifiedShow Answer

Civility requires all but the following:

Correct AnswerverifiedShow Answer

Kevin Lowe's ethical dilemma in the Eating Time case can best be described as whether to:

Correct AnswerverifiedShow Answer

If one's reputation is tainted it may create a:

Correct AnswerverifiedShow Answer

In the Moral Turpitude case, the primary ethical issue in the case is:

Correct AnswerverifiedShow Answer

The method of ethical reasoning that requires selecting the correct moral rule that produces the greatest benefits over harms is:

Correct AnswerverifiedShow Answer

Decisions that are made based on the underlying circumstances of a particular matter can be best characterized by:

Correct AnswerverifiedShow Answer

In the Shifty Industries case, the primary ethical issue can be stated as:

Correct AnswerverifiedShow Answer

Bob is being pressured by his superior to go along with improper accounting and told he is expected to be a team player. Which of the following statements best characterizes those expectations?

Correct AnswerverifiedShow Answer

Responsibility goes hand in hand with:

Correct AnswerverifiedShow Answer

Which of the following is NOT a likely rationalization a student might use to justify cheating on an exam?

Correct AnswerverifiedShow Answer

The credibility standard in the Statement of Ethical Professional Practice of the IMA requires that an accounting professional should:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The biggest problem in applying virtue theory to decision making is:

Correct AnswerverifiedShow Answer

Are search results in Google, YouTube, Facebook, Twitter, and other social media sites fair game, specifically when an employer is looking to fire an employee?

Correct AnswerverifiedThe ethics involved in hiring are differ...View AnswerShow Answer

In the Lone Star School District case, the auditors were mostly concerned about:

Correct AnswerverifiedShow Answer

Correct Answer
verified
Sometimes in natural disasters like a fi...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The ethics involved in hiring are differ...
View Answer

Correct Answer
verified