Test
1
, Bank Ethical Obligations and Decision-Making in Accounting: Te
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and Cases, 6th Edition by Steven Mintz and William Miller
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Chapter 01 6e Mintz m m m
Answers Included m
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
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manswers the question.
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1) What is the common characteristic of Aristotle's virtues and ethical standards for CPAs?
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A) truthfulness
B) integrity
C) loyalty
D) due care m
2) Jane finds a material misstatement while auditing a client's accounts receivables. Her
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msenior tells her to ignore the misstatement so that the client does not get upset. Jane wants
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mto be viewed as a team player in order to advance in the firm, so Jane follows her senior's
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instructions and ignores the misstatement. Which ethical theory did Jane use to make her
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mdecision?
A) egoism
B) justice
C) virtue ethics m
D) utilitarianism
3) Which of the following situations would be considered ethical?
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A) The cashier at Wal-Mart gives you $5 more than you were supposed to receive
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mand you don't do anything about it.
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B) You accidentally back into a car at Wal-Mart and leave your information for them to
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call.
C) You receive fake $20 bills and use them in a store while knowing they are fake.
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D) You find a phone in a restaurant and keep it.
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4) Which of the following characteristics does not describe the importance of integrity
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in decision making?
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2
, A) Acting out of moral principle
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B) Being loyal to one's superior
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C) Having the courage to do the right thing
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D) Not subordinating professional judgment to others
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5) Which of the following characteristics does not describe the behavior of Cynthia
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Cooper in the WorldCom fraud?
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A) persistence
B) competence
C) integrity
D) conformity
6) The ancient Greeks thought of the virtues as characteristics of behavior that
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A) could lead to a good life.
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B) make up the "six pillars of character".
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C) support the rights theory.
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D) rationalize unethical actions. m m
7) Which of the following elements does not make up an integral part of what is meant
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by "ethics"?
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A) accepted standards of behavior
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B) knowing the difference between right and wrong
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C) always following the law
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D) the moral point of view
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8) Ethical relativism can best be described as
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3
, A) a point of view that morality is relative to the norms of one's culture.
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B) a concept that holds that integrity should be maintained in the face of pressure by
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others.
C) an ethical reasoning method that holds one should always act out of self-interest.
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D) an ethical reasoning method that holds one should always consider the effect of one's
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actions on others.
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9) Which of the following is not a pillar of character according to the Josephson Institute?
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A) caring
B) citizenship
C) respect
D) judgmental
10) Which of the following is not an element of trustworthiness according to the Six
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Pillars of Character?
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A) reliability
B) loyalty
C) fairness
D) honesty
11) An accountant who blows the whistle on financial wrongdoing by his/her employer
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by going outside the entity violates
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A) the due care principle.
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B) confidentiality.
C) one's reliability obligation.
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D) public interest obligation.
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12) Cancel culture results in each of the following except:
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4
1
, Bank Ethical Obligations and Decision-Making in Accounting: Te
m m m m m m m m
and Cases, 6th Edition by Steven Mintz and William Miller
m m m m m m m m m m
Chapter 01 6e Mintz m m m
Answers Included m
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
m m m m m m m m m m m m
manswers the question.
m m
1) What is the common characteristic of Aristotle's virtues and ethical standards for CPAs?
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A) truthfulness
B) integrity
C) loyalty
D) due care m
2) Jane finds a material misstatement while auditing a client's accounts receivables. Her
m m m m m m m m m m m
msenior tells her to ignore the misstatement so that the client does not get upset. Jane wants
m m m m m m m m m m m m m m m m
mto be viewed as a team player in order to advance in the firm, so Jane follows her senior's
m m m m m m m m m m m m m m m m m m
instructions and ignores the misstatement. Which ethical theory did Jane use to make her
m m m m m m m m m m m m m m
mdecision?
A) egoism
B) justice
C) virtue ethics m
D) utilitarianism
3) Which of the following situations would be considered ethical?
m m m m m m m m
A) The cashier at Wal-Mart gives you $5 more than you were supposed to receive
m m m m m m m m m m m m m
mand you don't do anything about it.
m m m m m m
B) You accidentally back into a car at Wal-Mart and leave your information for them to
m m m m m m m m m m m m m m
call.
C) You receive fake $20 bills and use them in a store while knowing they are fake.
m m m m m m m m m m m m m m m
D) You find a phone in a restaurant and keep it.
m m m m m m m m m
4) Which of the following characteristics does not describe the importance of integrity
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in decision making?
m m m
2
, A) Acting out of moral principle
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B) Being loyal to one's superior
m m m m
C) Having the courage to do the right thing
m m m m m m m
D) Not subordinating professional judgment to others
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5) Which of the following characteristics does not describe the behavior of Cynthia
m m m m m m m m m m m
Cooper in the WorldCom fraud?
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A) persistence
B) competence
C) integrity
D) conformity
6) The ancient Greeks thought of the virtues as characteristics of behavior that
m m m m m m m m m m m
A) could lead to a good life.
m m m m m
B) make up the "six pillars of character".
m m m m m m
C) support the rights theory.
m m m
D) rationalize unethical actions. m m
7) Which of the following elements does not make up an integral part of what is meant
m m m m m m m m m m m m m m m
by "ethics"?
m m
A) accepted standards of behavior
m m m
B) knowing the difference between right and wrong
m m m m m m
C) always following the law
m m m
D) the moral point of view
m m m m
8) Ethical relativism can best be described as
m m m m m m
3
, A) a point of view that morality is relative to the norms of one's culture.
m m m m m m m m m m m m m
B) a concept that holds that integrity should be maintained in the face of pressure by
m m m m m m m m m m m m m m
others.
C) an ethical reasoning method that holds one should always act out of self-interest.
m m m m m m m m m m m m
D) an ethical reasoning method that holds one should always consider the effect of one's
m m m m m m m m m m m m m
actions on others.
m m
9) Which of the following is not a pillar of character according to the Josephson Institute?
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A) caring
B) citizenship
C) respect
D) judgmental
10) Which of the following is not an element of trustworthiness according to the Six
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Pillars of Character?
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A) reliability
B) loyalty
C) fairness
D) honesty
11) An accountant who blows the whistle on financial wrongdoing by his/her employer
m m m m m m m m m m m
by going outside the entity violates
m m m m m m
A) the due care principle.
m m m
B) confidentiality.
C) one's reliability obligation.
m m
D) public interest obligation.
m m
12) Cancel culture results in each of the following except:
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4
