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WGU D550 Ethics For Accountants OA Final Exam
Newest / WGU D550 Ethics For Accountants OA Final
Preparation/WGU D550 Ethics For Accountants OA
Final Practice Exam With Complete Questions And
Correct Detailed Answers With Rationales|Already
Graded A+|Brand New Exam!!!
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? - Answer-egoism
Ethical relativism can best be described as - 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 - Answer-the importance
of integrity in decision making.
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Objectivity requires that a CPA should - Answer-maintain a
mental attitude of intellectual honesty and impartiality.
The Independence Principle in the AICPA Code applies to
- Answer-all CPAs who render attestation services.
A CPA would violate the Due Care Principle if he/she -
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 -
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
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Kelly to resist the pressure to manipulate the number is -
Answer-integrity.
The most important duty of public accounting is to the -
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? - Answer-loyalty
The cognitive development approach refers to - Answer-
the thought process followed in one's moral development.
Kohlberg's model can best be described as - 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? - Answer-
equity
WGU D550 Ethics For Accountants OA Final Exam
Newest / WGU D550 Ethics For Accountants OA Final
Preparation/WGU D550 Ethics For Accountants OA
Final Practice Exam With Complete Questions And
Correct Detailed Answers With Rationales|Already
Graded A+|Brand New Exam!!!
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? - Answer-egoism
Ethical relativism can best be described as - 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 - Answer-the importance
of integrity in decision making.
,2|Page
Objectivity requires that a CPA should - Answer-maintain a
mental attitude of intellectual honesty and impartiality.
The Independence Principle in the AICPA Code applies to
- Answer-all CPAs who render attestation services.
A CPA would violate the Due Care Principle if he/she -
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 -
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
, 3|Page
Kelly to resist the pressure to manipulate the number is -
Answer-integrity.
The most important duty of public accounting is to the -
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? - Answer-loyalty
The cognitive development approach refers to - Answer-
the thought process followed in one's moral development.
Kohlberg's model can best be described as - 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? - Answer-
equity
