Ethics for Accountants - D550 (Quizzes) with correct answers

Ethics for Accountants - D550 (Quizzes) with
correct answers

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? |- |CORRECT |ANSWER✔✔-egoism



Ethical |relativism |can |best |be |described |as |- |CORRECT |ANSWER✔✔-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 |- |CORRECT |
ANSWER✔✔-the |importance |of |integrity |in |decision |making.



Objectivity |requires |that |a |CPA |should |- |CORRECT |ANSWER✔✔-maintain |a |mental |attitude |of |
intellectual |honesty |and |impartiality.



The |Independence |Principle |in |the |AICPA |Code |applies |to |- |CORRECT |ANSWER✔✔-all |CPAs |
who |render |attestation |services.



A |CPA |would |violate |the |Due |Care |Principle |if |he/she |- |CORRECT |ANSWER✔✔-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 |- |CORRECT |ANSWER✔✔-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 |- |CORRECT |ANSWER✔✔-integrity.



The |most |important |duty |of |public |accounting |is |to |the |- |CORRECT |ANSWER✔✔-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? |- |CORRECT |ANSWER✔✔-loyalty



The |cognitive |development |approach |refers |to |- |CORRECT |ANSWER✔✔-the |thought |process |
followed |in |one's |moral |development.



Kohlberg's |model |can |best |be |described |as |- |CORRECT |ANSWER✔✔-the |various |phases |in |
one's |moral |development |and |related |levels |of |moral |reasoning.



Which |concept |is |thought |of |in |terms |of |equal |opportunity |that |fits |a |person's |circumstances |
and |abilities? |- |CORRECT |ANSWER✔✔-equity



Thorne's |"Integrated |Model |of |Ethical |Decision |Making" |can |best |be |described |as |- |CORRECT |
ANSWER✔✔-a |model |of |the |role |of |moral |development |and |virtue |in |decision |making.



In |organizations, |the |ethical |environment |that |is |created |in |the |workplace |by |the |
organization's |leadership |is |commonly |called |the |- |CORRECT |ANSWER✔✔-tone |at |the |top.