WGU D550 Ethics for Accountants |PA| Pre-Assessment| Actual
Questions and Answers Latest Updated
(Graded A+)
Correct
Incorrect
D550 Ethics for Accountants |PA
1 of 99
Term
The most significant change in the Revised AICPA Code of Professional
Conduct is
the creation of two conceptual
whether a conceptual framework
frameworks: one for members in
approach is used for evaluating ethics
public practice and one for
violations.
members in business.
communicate to the appropriate level
the importance of integrity in of management both material and
decision making. immaterial amounts of fraud that are
detected.
, Don't know?
2 of 99
Term
Cardinal virtues
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• Wisdom.
• Courage.
• Temperance.
• Justice.
Bentham and Mill.
Consider impartially the interests of all persons affected by an action and pick the
greater benefit.
Hobbes and Locke.
Kant (17 24-18 04).
Categorical Imperative.
• Motivated by sense of obligation.
• Universality of moral actions.
• People should never be treated as a means only, that is, a means to an end.
• Examines the specific action itself versus rule.
• Sets aside the rule only if increase in net utility to all stakeholders.
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3 of 99
Definition
preparing source documents used to generate the client's financial
statements.
Give this one a try later!
An example of a self-review "Cookie jar reserves" can best be
threat is described as
The cognitive development approach An example of fraudulent financial
refers to statements is
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4 of 99
Definition
comparing the validity of the amounts to pre-tax GAAP income.
Give this one a try later!
, In the Hertz fraud, the company The key element that protects an
tried to explain its use of non- auditor against common law liability
GAAP financial measures by is
The auditors' responsibility to
The first step for an auditor who
communicate findings with respect to
concludes an illegal act exists is to
fraud can best be summarized as
Don't know?
5 of 99
Definition
assess the impact of the illegal act on the financial statements.
Give this one a try later!
The most significant change in the
The difference between occupational
Revised AICPA Code of Professional
and financial statement fraud is
Conduct is
One difference between the AICPA The first step for an auditor who
auditor's report and that of the concludes an illegal act exists is
PCAOB is to
Don't know?
6 of 99
Questions and Answers Latest Updated
(Graded A+)
Correct
Incorrect
D550 Ethics for Accountants |PA
1 of 99
Term
The most significant change in the Revised AICPA Code of Professional
Conduct is
the creation of two conceptual
whether a conceptual framework
frameworks: one for members in
approach is used for evaluating ethics
public practice and one for
violations.
members in business.
communicate to the appropriate level
the importance of integrity in of management both material and
decision making. immaterial amounts of fraud that are
detected.
, Don't know?
2 of 99
Term
Cardinal virtues
Give this one a try later!
• Wisdom.
• Courage.
• Temperance.
• Justice.
Bentham and Mill.
Consider impartially the interests of all persons affected by an action and pick the
greater benefit.
Hobbes and Locke.
Kant (17 24-18 04).
Categorical Imperative.
• Motivated by sense of obligation.
• Universality of moral actions.
• People should never be treated as a means only, that is, a means to an end.
• Examines the specific action itself versus rule.
• Sets aside the rule only if increase in net utility to all stakeholders.
, Don't know?
3 of 99
Definition
preparing source documents used to generate the client's financial
statements.
Give this one a try later!
An example of a self-review "Cookie jar reserves" can best be
threat is described as
The cognitive development approach An example of fraudulent financial
refers to statements is
Don't know?
4 of 99
Definition
comparing the validity of the amounts to pre-tax GAAP income.
Give this one a try later!
, In the Hertz fraud, the company The key element that protects an
tried to explain its use of non- auditor against common law liability
GAAP financial measures by is
The auditors' responsibility to
The first step for an auditor who
communicate findings with respect to
concludes an illegal act exists is to
fraud can best be summarized as
Don't know?
5 of 99
Definition
assess the impact of the illegal act on the financial statements.
Give this one a try later!
The most significant change in the
The difference between occupational
Revised AICPA Code of Professional
and financial statement fraud is
Conduct is
One difference between the AICPA The first step for an auditor who
auditor's report and that of the concludes an illegal act exists is
PCAOB is to
Don't know?
6 of 99
