Test Bank Ethical Obligations and Decision-Making in Accounting 5th Edition By Steven Mintz A+

$35.00
Test Bank Ethical Obligations and Decision-Making in Accounting 5th Edition By Steven Mintz A+

Test Bank Ethical Obligations and Decision-Making in Accounting 5th Edition By Steven Mintz A+

$35.00
Test Bank Ethical Obligations and Decision-Making in Accounting 5th Edition By Steven Mintz A+

1) What is the common characteristic of Aristotle's virtues and ethical standards for CPAs?

A) Truthfulness

B) Integrity

C) Loyalty

D) Due care

Answer: B

Difficulty: 1 Easy

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

2) 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?

A) Egoism

B) Justice

C) Virtue ethics

D) Utilitarianism

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

3) Which of the following situations would be considered ethical?

A) The cashier at Wal-Mart gives you $5 more than you were supposed to receive and you don't do anything about it

B) You accidentally back into a car at Wal-Mart and leave your information for them to call

C) Receiving fake $20 bills and using them in a store while knowing they are fake

D) Finding a phone in a restaurant and keeping it

Answer: B

Difficulty: 2 Medium

Topic: What Is Ethics?

Learning Objective: 01-02 Discuss the relationship between one's values and ethics; and legal obligations.

Bloom's: Evaluate

AACSB: Ethics

Accessibility: Keyboard Navigation

4) Which of the following characteristics does NOT describe the importance of integrity in decision making?

A) Acting out of moral principle

B) Being loyal to one's superior

C) Having the courage to do the right thing

D) Not subordinating professional judgment to others

Answer: B

Difficulty: 2 Medium

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

5) Which of the following characteristics does NOT describe the behavior of Cynthia Cooper in the WorldCom fraud?

A) Persistence

B) Competence

C) Integrity

D) Conformity

Answer: D

Difficulty: 2 Medium

Topic: Integrity: The Basis of Accounting; AICPA Code of Conduct

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.; 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

6) The ancient Greeks thought of the virtues as characteristics of behavior that:

A) Could lead to a good life

B) Make up the "six pillars of character"

C) Support the rights theory

D) Rationalize unethical actions

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

7) Which of the following elements does NOT make up an integral part of what is meant by "ethics"?

A) Accepted standards of behavior

B) Knowing the difference between right and wrong

C) Always following the law

D) The moral point of view

Answer: C

Difficulty: 1 Easy

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

8) Ethical relativism can best be described as a:

A) Point of view that morality is relative to the norms of one's culture.

B) Concept that holds that integrity should be maintained in the face of pressure by others.

C) An ethical reasoning method that holds one should always act out of self-interest.

D) An ethical reasoning method that holds one should always consider the effect of one's actions on others.

Answer: A

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Understand

AACSB: Ethics

Accessibility: Keyboard Navigation

9) Which of the following is NOT a pillar of character according to the Josephson Institute?

A) Caring

B) Citizenship

C) Respect

D) Judgmental

Answer: D

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Understand

AACSB: Ethics

Accessibility: Keyboard Navigation

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

A) Reliability

B) Loyalty

C) Fairness

D) Honesty

Answer: C

Difficulty: 2 Medium

Topic: What Is Ethics?

Learning Objective: 01-02 Discuss the relationship between one's values and ethics; and legal obligations.

Bloom's: Understand

AACSB: Ethics

Accessibility: Keyboard Navigation

11) An accountant who blows the whistle on financial wrongdoing by his/her employer by going outside the entity violates:

A) The due care principle

B) Confidentiality

C) One's reliability obligation

D) Public interest obligation

Answer: B

Difficulty: 2 Medium

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

12) Social networking is the norm for many workers, and some workers spend at least 30 percent of their workday linked up to one or more networks. The Ethics Resource Center conducted a survey in which social networkers admitted each of the following except:

A) They think about risks before posting online.

B) They comment on their personal sites about their company if it was in the news.

C) They often comment on their personal sites about managers, coworkers, and even clients.

D) They always consider the consequences of their postings on others.

Answer: D

Difficulty: 2 Medium

Topic: What Is Ethics?

Learning Objective: 01-02 Discuss the relationship between one's values and ethics; and legal obligations.

Bloom's: Evaluate

AACSB: Ethics

Accessibility: Keyboard Navigation

13) Which of following is false of active social networkers?

A) They do not discuss company information online.

B) They witness more misconduct among their coworkers.

C) They experience more retaliation when they report their colleagues.

D) They think about risks before posting online.

Answer: A

Difficulty: 2 Medium

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

14) Respect is an important character of behavior because:

A) It entails a loyalty obligation to one's superior

B) It enables one to perform professional services competently

C) It is critical to maintaining one's integrity

D) It encompasses attributes of how we should treat others

Answer: D

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

15) Responsibility goes hand in hand with:

A) Respect

B) Loyalty

C) Courage

D) Accountability

Answer: D

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

16) Treating others fairly encompasses treating them:

A) Equally, impartially, and responsibly

B) Equally, responsibly, and openly

C) Impartially, openly, and diligently

D) Equally, impartially, and openly

Answer: D

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

17) Which of the following characteristics is NOT part of behaving with empathy?

A) Being loyal to one's friends

B) Being understanding of one's friends

C) Being sensitive to the feelings of one's friends

D) Being caring about one's friends

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Evaluate

AACSB: Ethics

Accessibility: Keyboard Navigation

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

A) Conflict of interest

B) Loss of independence

C) Lack of trust

D) Loss of objectivity

Answer: C

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

19) The Public Interest Principle in the AICPA Code of Professional Conduct recognizes:

A) The importance of integrity in decision making

B) The importance of loyalty to one's superior

C) The importance of whistleblowing when financial wrongdoing exists

D) The importance of maintaining confidentiality

Answer: A

Difficulty: 2 Medium

Topic: AICPA Code of Conduct

Learning Objective: 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.

Bloom's: Evaluate

AACSB: Ethics

Accessibility: Keyboard Navigation

20) Objectivity requires that a CPA should:

A) Maintain a mental attitude of intellectual honesty and independence

B) Maintain a mental attitude of intellectual honesty and impartiality

C) Act in accordance with the best interests of one's client

D) Act in accordance with the best interests of one's employer

Answer: B

Difficulty: 2 Medium

Topic: AICPA Code of Conduct

Learning Objective: 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

21) The Independence Principle in the AICPA Code applies to:

A) All accountants and auditors

B) All CPAs regardless of professional services

C) All CPAs who render attestation services

D) All members of the audit committee

Answer: C

Difficulty: 2 Medium

Topic: AICPA Code of Conduct

Learning Objective: 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

22) A CPA would violate the Due Care Principle if he/she:

A) Undertook a professional engagement without having the requisite background, knowledge and experience.

B) Specializes in the industry of the client, even offering training classes for other accounting firms on the industry.

C) The accounting firm uses two external partner reviews on high risk audits or clients.

D) Performs tax services for an audit client with audit committee approval.

Answer: A

Difficulty: 2 Medium

Topic: AICPA Code of Conduct

Learning Objective: 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

23) Aristotle believed that ________ always preceded the choice of action.

A) Empathy

B) Due Care

C) Deliberation

D) Loyalty

Answer: C

Difficulty: 2 Medium

Topic: Modern Moral Philosophies; What Is Ethics?

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.; 01-02 Discuss the relationship between one's values and ethics; and legal obligations.

Bloom's: Evaluate

AACSB: Ethics

Accessibility: Keyboard Navigation

24) The method of ethical reasoning that deals with making decisions after considering the interests of others is:

A) Egoism

B) Enlightened Egoism

C) Utilitarianism

D) Rights Theory

Answer: B

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

25) The method of ethical reasoning that evaluates actions in terms of harms and benefits is:

A) Act Utilitarianism

B) Rights Theory

C) Justice

D) Virtue

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

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

A) Act Utilitarianism

B) Rule Utilitarianism

C) Rights Theory

D) Justice

Answer: B

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

27) Which of the following elements is not an integral part of Rights Theory?

A) Act based on the consequences of one's actions on others

B) Treat people as an end and not merely as a means to an end

C) Act in a way you would want others to act in similar situations

D) Act in a way that is universally accepted

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

28) The ethical reasoning method that is based on treating equals, equally and unequals, unequally is:

A) Enlightened egoism

B) Act utilitarianism

C) Justice

D) Virtue

Answer: C

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

29) Teleology deals with:

A) Consequences of actions

B) Fairness to others

C) Respecting the rights of others

D) Following prescribed virtue characteristics

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

30) Deontology deals with:

A) Rights of others and duties toward them

B) Consequences of actions

C) Following prescribed virtue characteristics

D) Following the law as an element of ethical behavior

Answer: A

Difficulty: 3 Hard

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

31) The biggest problem in implementing a utilitarian approach to decision making is:

A) The interests of others may be subservient to self-interests

B) It fails to consider the interests of others

C) It can be difficult to weigh all the consequences of actions

D) It relies on moral absolutes

Answer: C

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

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

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 claims

Answer: C

Difficulty: 2 Medium

Topic: Moral Philosophies and Their Effect on Ethical Reasoning

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

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

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 difficult

Answer: D

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

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

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 above

Answer: D

Difficulty: 2 Medium

Topic: Application of Ethical Reasoning in Accounting

Learning Objective: 01-07 Apply the IMA Statement of Ethical and Professional Practice to a case study.

Bloom's: Apply

AACSB: Ethics

Accessibility: Keyboard Navigation

35) Under the IMA's standards of ethical practice, an accounting professional can consider informing authorities or individuals not employed by the organization when an ethical dilemma occurs about an accounting or financial reporting matter that remains unresolved if he/she:

A) Believes there is a clear violation of the law

B) Contacts his/her immediate superior who says to forget about the matter

C) Informs the external auditors who tell him/her to inform the appropriate authorities

D) Believes there has been an ethical violation

Answer: A

Difficulty: 2 Medium

Topic: Application of Ethical Reasoning in Accounting

Learning Objective: 01-07 Apply the IMA Statement of Ethical and Professional Practice to a case study.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

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

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 waitress

Answer: B

Difficulty: 1 Easy

Topic: What Is Ethics?

Learning Objective: 01-02 Discuss the relationship between one's values and ethics; and legal obligations.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

37) Sally is the only student from a foreign country in an Auditing class. On the day of the midterm exam, Sally asks the teacher whether she could use a dictionary to translate English words to her native tongue so she can better understand the questions. What do you think the instructor should do if she follows the ethical principle of justice?

A) Allow Sally to use the dictionary since she is at a disadvantage

B) Not allow Sally to use the dictionary because she should know enough English to get by

C) Allow the other students to bring in some tool to give them an advantage

D) None of the above

Answer: A

Difficulty: 1 Easy

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

38) 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:

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 matter

Answer: B

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

39) Janice is a staff accountant in the accounting firm of Obama and Biden. She is assigned to the audit of HealthCare Associates. On the very first day Janice noticed that the accounting manager of the client took money out of the petty cash fund and put it in his pocket. The best action for Janice to take is:

A) Ignore the situation because Janice doesn't know why the manager pocketed the money

B) Inform her immediate supervisor of what she observed

C) Tell another staff accountant who is a friend and ask for her advice

D) Tell the superior of the accounting manager what she has observed

Answer: B

Difficulty: 2 Medium

Topic: What Is Ethics?

Learning Objective: 01-02 Discuss the relationship between one's values and ethics; and legal obligations.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

40) Kelly is the controller of a small company. One day the CFO comes in and tells her to lower the estimate of uncollectible accounts receivable. Kelly insists her numbers are correct as is. The CFO tells her it will mean her job at the company if she doesn't go along with the smaller estimate. The primary virtue that would enable Kelly to resist the pressure to manipulate the number is:

A) Loyalty

B) Integrity

C) Caring

D) Objectivity

Answer: B

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

41) Jason is the fastest worker on the audit of a company for the firm Zits LLP. Other Zits workers take twice as long to complete the equivalent amount of work as Jason. One day Jason is approached by the other workers and is asked to slow down "You are exceeding the time budget for the audit and making the rest of us look bad," said one staff member. From an organizational, ethical point of view, the best thing for Jason to do is:

A) Tell the other staff members that he will use the time he saves on his budget to help them to meet their budget by picking up their slack

B) Approach the supervisor to discuss the pressure of fellow staff to slow down on doing audit work

C) Explain to the other staff members that he works diligently and they should do the same

D) Tell the other staff members to mind their own business

Answer: B

Difficulty: 2 Medium

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

42) Steve is deep in debt due to a gambling problem. He is the bookkeeper for a family-owned business, Cal Poly Greenery. The company has only three employees - Steve, the husband, and the wife. All three have been friends for many years. One day the loan shark who lent Steve $20,000 comes knocking at his door asking for repayment of the loan. Steve convinces the loan shark to give him another day. The following day Steve writes a check on the company's books to himself for $20,000. Since he reconciles the bank accounts and prepares the financial statements, Steve knows it's unlikely the owners will ever know about what he has done. From an ethical perspective, Steve has:

A) Violated the trust placed in him by the owners

B) Risked his reputation if the loan shark finds out

C) Risked his ability to continue working for Cal Poly Greenery

D) All of the above

Answer: A

Difficulty: 2 Medium

Topic: Integrity: The Basis of Accounting

Learning Objective: 01-01 Explain how integrity enables a CPA to withstand pressures and avoid subordination of judgment.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

43) Ty is a rising star at Texas State Country & Western Stores. He is the controller of the company. His wife, Rosie, is the lead auditor of the CPA firm that examines Country & Western's financial statements and issues an audit opinion. Given the nature of the relationships, Rosie would violate what ethical standard if she is allowed to conduct the audit:

A) Integrity

B) Due care

C) Independence

D) Responsibility

Answer: C

Difficulty: 2 Medium

Topic: AICPA Code of Conduct

Learning Objective: 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

44) The most important duty of public accounting is to the:

A) Securities Exchange Commission

B) Current stockholders

C) Management

D) Investing public

Answer: D

Difficulty: 2 Medium

Topic: The Public Interest in Accounting

Learning Objective: 01-05 Describe the regulatory system in accounting and how professional accountants serve the public interest.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

45) The best restatement of Kant's categorical imperative is:

A) Do to others as you would have everyone do unto you

B) Consider others needs before you act

C) That those with a smaller stake should have a smaller say compared to those with a bigger stake

D) That the ends justifies the means

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

46) What is the one virtue that people should want in a boss, to trust a boss?

A) Diligence

B) Commitment

C) Honesty

D) Sense of humor

Answer: C

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

47) Virtue ethics emphasizes development of good habits of character. What should be the greatest reward of practicing good habits of character, according to MacIntyre?

A) External rewards

B) Loyalty from others

C) Internal rewards

D) Authority of rules

Answer: C

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

48) Michael Josephson, founder of the Josephson Institute of Ethics, is credited for developing:

A) Book of virtues

B) Care and response orientation

C) Six Pillars of Character

D) Rights theory

Answer: C

Difficulty: 2 Medium

Topic: The Six Pillars of Character

Learning Objective: 01-03 Describe how the pillars of character support ethical decision making.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

49) Internal rewards of accounting practice include:

A) Wealth and prestige

B) Success and power

C) Integrity and Excellence

D) Achievement and notoriety

Answer: C

Difficulty: 2 Medium

Topic: AICPA Code of Conduct; The Public Interest in Accounting

Learning Objective: 01-06 Discuss the Principles section of the AICPA Code of Professional Conduct.; 01-05 Describe the regulatory system in accounting and how professional accountants serve the public interest.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

50) Utilitarian philosophers are divided into two types: act utilitarian and

A) rule utilitarian.

B) egoistic utilitarian.

C) ethical utilitarian.

D) beneficial utilitarian.

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

51) Greatest good for the greatest number of people is the theory of ________.

A) Rights

B) Deontology

C) Utilitarianism

D) Justice

Answer: C

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

52) The motive of "duty" is most associated with ________.

A) Egoism

B) Deontology

C) Utilitarianism

D) Justice

Answer: B

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

Accessibility: Keyboard Navigation

53) Virtue ethics is:

A) Doing what is right

B) One's duty to act in a socially acceptable manner

C) One's ability to meet or exceed their potential

D) What one ought to do when presented with an ethical dilemma

Answer: A

Difficulty: 2 Medium

Topic: Modern Moral Philosophies

Learning Objective: 01-04 Differentiate between moral philosophies and their effect on ethical reasoning in accounting.

Bloom's: Analyze

AACSB: Ethics

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