WGU D550 ETHICS FOR
ACCOUNTANTS EXAM
The SEC requires stealth restatements to be - ANSWERS-disclosed
only in an 8-K report or amended 10-K/A or 10-Q/A.
In the 2019 Audit Analytics report, what was the most common
reason cited for financial restatements? - ANSWERS-revenue
recognition
In the Hertz fraud, the company tried to explain its use of non-GAAP
financial measures by - ANSWERS-comparing the validity of the
amounts to pre-tax GAAP income.
Earnings management is likely to decrease when corporate
governance systems - ANSWERS-set an ethical tone at the top.
Values-based leadership can best be summed up as - ANSWERS-
clearly articulating and demonstrating one's values.
Ethical leadership competence refers to - ANSWERS-leaders ability
to develop problem-solving and decision-making skills.
Servant leaders - ANSWERS-help followers to fulfill their needs by
modeling ethical values, attitudes, and behaviors.
, Social Learning Theory holds that - ANSWERS-employees learn
what to do and what not to do by observing their leaders' behavior and
its consequences
According to Mesmer-Magnus and Viswesvaran, organizational
employees have three options to address an unsatisfactory situation
faced within an organization. These include - ANSWERS-exit the
organization, remain silent, voice discontent.
The fraud at HealthSouth at the structural level of the company was
more intense because - ANSWERS-checks and balances were
eliminated and organizational culture was compromised.
The legal precedent that evolves from legal opinions issued by judges
in deciding a case and guides judges in deciding similar cases in the
future is referred to as - ANSWERS-common law.
The key element that protects an auditor against common law liability
is - ANSWERS-adherence to generally accepted auditing standards
(GAAS).
In the United States, if the auditor can demonstrate having performed
services with the same degree of skill and judgment possessed by
others in the profession, they can be said to have exercised -
ANSWERS-due care.
ACCOUNTANTS EXAM
The SEC requires stealth restatements to be - ANSWERS-disclosed
only in an 8-K report or amended 10-K/A or 10-Q/A.
In the 2019 Audit Analytics report, what was the most common
reason cited for financial restatements? - ANSWERS-revenue
recognition
In the Hertz fraud, the company tried to explain its use of non-GAAP
financial measures by - ANSWERS-comparing the validity of the
amounts to pre-tax GAAP income.
Earnings management is likely to decrease when corporate
governance systems - ANSWERS-set an ethical tone at the top.
Values-based leadership can best be summed up as - ANSWERS-
clearly articulating and demonstrating one's values.
Ethical leadership competence refers to - ANSWERS-leaders ability
to develop problem-solving and decision-making skills.
Servant leaders - ANSWERS-help followers to fulfill their needs by
modeling ethical values, attitudes, and behaviors.
, Social Learning Theory holds that - ANSWERS-employees learn
what to do and what not to do by observing their leaders' behavior and
its consequences
According to Mesmer-Magnus and Viswesvaran, organizational
employees have three options to address an unsatisfactory situation
faced within an organization. These include - ANSWERS-exit the
organization, remain silent, voice discontent.
The fraud at HealthSouth at the structural level of the company was
more intense because - ANSWERS-checks and balances were
eliminated and organizational culture was compromised.
The legal precedent that evolves from legal opinions issued by judges
in deciding a case and guides judges in deciding similar cases in the
future is referred to as - ANSWERS-common law.
The key element that protects an auditor against common law liability
is - ANSWERS-adherence to generally accepted auditing standards
(GAAS).
In the United States, if the auditor can demonstrate having performed
services with the same degree of skill and judgment possessed by
others in the profession, they can be said to have exercised -
ANSWERS-due care.
