WGU D550 Ethics for Accountants OA
Final Exam (2025/2026) – Actual Exam |
Western Governors University |
Professional Ethics & AICPA Standards
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? -CORRECTANSWER egoism
Ethical relativism can best be described as -CORRECTANSWER a point of view that
morality is relative to the norms of one's culture.
The Public Interest Principle in the AICPA Code of Professional Conduct recognizes -
CORRECTANSWER the importance of integrity in decision making.
Objectivity requires that a CPA should -CORRECTANSWER maintain a mental attitude
of intellectual honesty and impartiality.
The Independence Principle in the AICPA Code applies to -CORRECTANSWER all
CPAs who render attestation services.
, A CPA would violate the Due Care Principle if he/she -CORRECTANSWER undertook
a professional engagement without having the requisite background, knowledge, and
experience.
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 -CORRECTANSWER believes there is a clear violation of the law.
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 -CORRECTANSWER integrity.
The most important duty of public accounting is to the -CORRECTANSWER investing
public.
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? -CORRECTANSWER loyalty
Final Exam (2025/2026) – Actual Exam |
Western Governors University |
Professional Ethics & AICPA Standards
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? -CORRECTANSWER egoism
Ethical relativism can best be described as -CORRECTANSWER a point of view that
morality is relative to the norms of one's culture.
The Public Interest Principle in the AICPA Code of Professional Conduct recognizes -
CORRECTANSWER the importance of integrity in decision making.
Objectivity requires that a CPA should -CORRECTANSWER maintain a mental attitude
of intellectual honesty and impartiality.
The Independence Principle in the AICPA Code applies to -CORRECTANSWER all
CPAs who render attestation services.
, A CPA would violate the Due Care Principle if he/she -CORRECTANSWER undertook
a professional engagement without having the requisite background, knowledge, and
experience.
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 -CORRECTANSWER believes there is a clear violation of the law.
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 -CORRECTANSWER integrity.
The most important duty of public accounting is to the -CORRECTANSWER investing
public.
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? -CORRECTANSWER loyalty
