83 test bank for ethical obligations and decision making in accounting 3rd

Free test bank for financial accounting Free Test Bank with Answers for Accounting Information Systems 1st Test Bank with Answers for Intermediate Accounting Principles and Analysis 2nd Test Bank with Answers for Intermediate Accounting Principles and Analysis 2nd Test Bank with Answers for Financial Accounting An Introduction. Free Test Bank with Answers for Auditing and Assurance Services Understandin Test Bank with Answers for Financial Accounting An Introduction to Concepts Methods and Uses Test Bank with Answers for Financial Accounting An Introduction to Concepts Methods and Uses Test Bank with Answers for Advanced Accounting 12th Edition Test Bank with Answers for Auditing A Business Risk Approach 8th Edition Free Test Bank for Management Accounting with Answers Ngân hàng câu hỏi trắc nghiệm Hệ thống thông tin kế toán, Ngân hàng câu hỏi kèm đáp án đề trắc nghiệm Tài chính kế toán, đề trắc nghiệm Quản trị kế toán, kế toán nâng cao Test Bank for Managerial Accounting with Answers Đề thi trắc nghiệm, Trắc nghiệm kế toán quản trị, kế toán tài chính,ngân hàng đề trắc nghiệm, trắc nghiệm có đáp án, Test bank for managerial accounting

83 Test Bank for Ethical Obligations and Decision Making in Accounting 3rd Edition by Mintz

Multiple Choice Questions

Treating other fairly encompasses treating them: 

1 A Equally, impartially, and responsibly

2 B Equally, responsibly, and openly

3 C Impartially, openly, and diligently

4 D Equally, impartially, and openly

An internal accountant should always consider taking each the following steps after exhausting all avenues of appeal within the organization when there is a difference of opinion with top

management on an accounting or financial reporting matter except for 

1 A Inform the SEC

2 B Terminate employment with the entity

3 C Seek legal advice before taking any action

4 D All of these

Each of the following is a pillar of character according to the Josephson Institute except for: 

1 A Caring

2 B Citizenship - Given

3 C Respect

4 D Judgmental

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: 

1 A Believes there is a clear violation of the law

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

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

4 D Believes there has been an ethical violation

When is it appropriate to contact the audit committee about a difference of opinion with the CFO over an accounting or financial reporting manner? 

1 A If the CFO does not agree to correct the financial statements

2 B The CEO supports the CFO and does not agree to correct the financial statements

3 C The external auditors support the CEO and do not agree to correct the financial statements

4 D The audit committee should always be the first to be informed about such

a difference of opinion

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

1 A The importance of integrity in decision making

2 B The importance of stakeholder groups

3 C The need to be independent of the client

4 D The importance of exercising objectivity in decision making

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

1 A The due care principle

2 B Confidentiality

3 C One's reliability obligation

4 D All of these

Objectivity requires that a CPA should: 

1 A Maintain a mental attitude of impartiality

2 B Maintain a mental attitude of intellectual honesty

3 C Be free of conflicts of interest - Given

4 D All of these

Teleology deals with 

1 A Consequences of actions

2 B Fairness to others

3 C Respecting the rights of others

4 D Following prescribed virtue characteristics

Which of the following situations would be considered ethical? 

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

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

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

4 D Finding a phone in a restaurant and keeping it

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

should: 

1 A Communicate information fairly and objectively

2 B Disclose all relevant information that might affect the intended user's understanding of the reports, analyses or recommendations

3 C Disclose delays or deficiencies in information, timeliness, processing or internal controls in conformance with organization policy and the law

4 D All of these

Each of the following characteristics describes the importance of integrity in decision making except for: 

1 A Acting out of moral principle

2 B Being loyal to one's superior

3 C Having the courage to do the right thing

4 D Not subordinating professional judgment to others

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

1 A Enlightened egoism

2 B Act utilitarianism

3 C Justice

4 D Virtue

The biggest problem in implementing an utilitarian approach to decision making is:

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

2 B It fails to consider the interests of others

3 C It can be difficult to evaluate the consequences of actions

4 D It relies on moral absolutes

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

1 A Conflict of interests

2 B Loss of independence

3 C Lack of trust

4 D All of these

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: 

1 A Accuse the alleged cheater of cheating in front of all the other players

2 B Consider what might happen if he accuses the player of cheating and he

is wrong

3 C Speak to the alleged cheater during a regularly scheduled break and tell him not to do it again

4 D Forget about the whole matter

Each of the following elements make up an integral part of what is meant by "ethics" except for: 

1 A Accepted standards of behavior

2 B Knowing the difference between right and wrong

3 C Always following the law

4 D The moral point of view

Ethical relativism can best be described as a: 

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

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

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

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

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

1 A Undertook a professional engagement without having the requisite

background, knowledge and experience

2 B Discloses confidential information about a client

3 C Violates the Public Interest Principle

4 D Performs tax services for an audit client without audit committee approval

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? 

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

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

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

4 D None of these

What is the common characteristic of Aristotle's virtues and

ethical standards for CPAs? 

1 A Truthfulness

2 B Integrity

3 C Loyalty

4 D Due care

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? 

1 A Egoism

2 B Justice

3 C Virtue ethics

4 D Utilitarianism

The method of ethical reasoning that requires selecting the

correct moral rule that produces the greatest benefits over harms is: 

1 A Act Utilitarianism

2 B Rule Utilitarianism

3 C Rights Theory

4 D Justice

The Independence Principle in the AICPA Code applies to: 

1 A All accountants and auditors

2 B All CPAs regardless of professional services

3 C All CPAs who render attestation services

4 D All members of the audit committee

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

1 A Could lead to a good life

2 B Make up the "six pillars of character"

3 C Support the rights theory

4 D All of these

The method of ethical reasoning that does not deal with making decisions after considering the interests of others is: 

1 A Egoism

2 B Enlightened Egoism

3 C Utilitarianism

4 D Rights Theory

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

1 A It can be difficult to evaluate the effect of virtues on others in decision making

2 B It relies on moral absolutes in decision making

3 C It can be difficult to determine virtues to distinguish equals from unequal claims in decision making

4 D Conflicts between virtues may make decision making more difficult

Empathy entails all of the following characteristics of behavior except for: 

1 A Being loyal to one's friends

2 B Being understanding of one's friends

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

4 D All of these

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

1 A Act Utilitarianism

2 B Rights Theory

3 C Justice

4 D Virtue

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: 

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

2 B Inform her immediate supervisor of what she observed

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

4 D Tell Obama or Biden

The biggest problem in implementing a rights approach to

decision making is: 

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

2 B It is difficult to weigh harms and benefits

3 C It relies on moral absolutes

4 D It can be difficult to determine criteria to distinguish equals from unequal claims

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

1 A Keep the extra $10

2 B Inform the waitress of her overpayment

3 C Inform the manager of the restaurant of the overpayment

4 D Leave a larger tip for the waitress

Responsibility goes hand in hand with: 

1 A Respect

2 B Loyalty

3 C Courage

4 D Accountability

The Rights Theory incorporates all of the following elements

except for: 

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

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

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

4 D All of these

Aristotle believed that always preceded the choice of action. 

1 A Empathy

2 B Due Care

3 C Deliberation

4 D Loyalty

Each of the following is an element of trustworthiness according

to the Josephson Institute except for: 

1 A Reliability

2 B Loyalty

3 C Fairness

4 D Honesty

Each of the following describes the behavior of Cynthia Cooper in the WorldCom fraud except for: 

1 A Persistence

2 B Competence

3 C Integrity

4 D Hesitance

Deontology deals with 

1 A Emphasizes rights of others

2 B Consequences of actions

3 C Following prescribed virtue characteristics

4 D Following the law as an element of ethical behavior

Respect is an important character of behavior because: 

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

2 B It enables one to perform professional services competently

3 C It is critical to maintaining one's integrity

4 D It encompasses attributes of how we should treat others

83 Free Test Bank for Ethical Obligations and Decision Making in Accounting 3rd Edition by Mintz Multiple Choice Questions - Page 2

The cultural value of Individualism reflects 

1 A The degree a society reinforces individual or collective achievement

2 B Tolerance for uncertainty and ambiguity in society

3 C The degree of equality between people in a society

4 D Whether a society has a long-term or short-term orientation

The main issue in the Reneging on a Promise case is: 

1 A Should the student who accepted an offer from one CPA firm back off from that promise in order to accept the offer of another firm deemed more preferable to the student

2 B Should Regas back off from the dating relationship she developed with Giles

3 C Should the CPA firm renege on its offer of employment to a student after realizing it made one offer too many to student candidates for staff positions

4 D Should Tybell quit the firm because of conflicts with his superiors

In the Harvard Cheating Scandal case, using ethical reasoning who is at fault for situation? 

1 A The professor

2 B Teaching assistants

3 C Students who cheated

4 D All of these

The motive of "duty" is most associated with. 

1 A Egoism

2 B Deontology

3 C Utilitarianism

4 D Justice

Kevin Lowe's ethical dilemma in the Eating Time case can best

be described as whether to: 

1 A Date another staff member of the CPA firm

2 B Inform his supervisor about a lack of diligence of other staff accountants

3 C Quit his job because he can't meet the firm's expected quality of work

4 D Devote time on an audit and not charge it to the job

The country with the highest Power Distance score is 

1 A United States

2 B United Kingdom

3 C Japan

4 D Russia

When making a donation at the local Goodwill, Martha tells the clerk that her old computer is in perfect working order when she knows it is not, just so she can deduct more on her taxes Which theory best describes Martha's behavior? 

1 A Utilitarianism

2 B Deontology

3 C Egoism

4 D Justice

Thomas Jefferson's writing in the preamble of the Declarations of Independence is a perfect example of what theory? 

1 A Rights Theory

2 B Virtue Theories

3 C Consequentialist Theories

4 D Applied Ethics

In the NYC Subway Death case, the reason that no bystanders helped Ki-Suck Han was probably due to: 

1 A Moral blindness and ethical fading

2 B Bystander effect and moral blindness

3 C Blind spot and moral blindness

4 D Ethical fading and bystander effect

The ethical issue in the Telecommunications case can best be described as: 

1 A Is a payment to a foreign government official to grease the wheels for the delivery of imported goods a violation of the Foreign Corrupt Practices Act

2 B Is a bribe to a foreign government official to win a competitively bid

contract a violation of the Foreign Corrupt Practices Act

3 C Is it a conflict of interests for employees to accept payments or other gifts when they are involved in the decision or execution of a contract for the party making the payment or gift

4 D Is it a conflict of interest for a member of management to make a decision

on awarding a contract to one company when that person has a relative working for the company

In the Capitalization versus Expensing case the main ethical issue is whether Gloria Hernandez should 

1 A Capitalize or expense $1 million of expenditures

2 B Report her superiors actions to the CEO