Ch. 4 | Austin Community College – Accounting Ethics
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This theory argues that equals should be treated equally in relationship to their relevant equalities and differences:
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Distributive Justice
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A value that is almost universally respected by stakeholder groups is:
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Hypernorm
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\"A problem with this theory is that the categorical imperative does not provide clear guidelines for deciding what is right and wrong when two or more moral laws conflict and only one can be chosen:
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Deontology
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Minority rights may be violated under this approach:
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Utilitariansim
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\"What are the 5 questions in Graham Tucker's original approach to ethical decision making?
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Is it profitable? Is it Legal? Is it Fair? Is it right? (Does it impact the rights of others?) Is it going to furthur sustainable development?
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This philosopher argued that self-interest motivates people to form peaceful civil societies:
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Thomas Hobbes
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A collateralized debt obligation (CDO):
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Is a bond that is secured by a portfolio of mortgages
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\"These are character traits that dispose a person to act ethically and thereby make that person a morally good human being:
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Virtues
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Which of the following is not covered under the Sarbanes-Oxley Act of 2002 (SOX)?
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The responsibilities of shareholders
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\"The difference between what the public thinks it is getting in audited financial statements and what the public is actually getting is known as:
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Expectations gap
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The following three standards make up the moral standards approach:
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Utilitarian, Individual rights, and Justice
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\"Which of the following is not a trend described in Chapter 1 as having an impact on the ethics of business?
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Auditors' legal liability
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This approach presupposes that happiness, utility, pleasure, pain and anguish can be quantified:
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Utilitarianism
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\"This theory is concerned with the motivation of the decision maker rather than the consequences of the decision:
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Deontology
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\"The AACSB Ethics Education taskforce has called for business students to be familiar with the following approaches to ethical decision making:
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Consequentialism, deontology, and virtue ethics
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\"Due diligence programs developed to reduce penalties levied under the U.S. Federal Sentencing Guidelines for environmental harm did not include:
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Rewards for non-compliance
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\"Which corporate report discusses subjects that include environmental, health and safety, philanthropic and other social impacts?
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Corporate social responsibility report
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These values are the combinations of a value and the probability of its occurrence:
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Expected values
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What is the function of the Board of Directors?
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Review the company's business strategy; selecting and compensating senior executives; evaluating the company's outside auditor; oversiging financial statements; monitor overal company performance.
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This theory focuses on the moral character of the decision maker:
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Virtue Ethics
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Professional Accountants, in their fiduciary role, owe their primary loyalty to:
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The general public
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\"Lack of awareness of the following problem results in executives not attributing enough value to the use of an environmental resource:
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Commons problem
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\"This approach, a variant of utilitarianism, considers an action to be ethically good if it will probably produce a greater balance of good over evil:
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Consequentialism
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Ethical dilemmas arise when:
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Norms and values are in conflict
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The following are determinants of reputation:
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Trustworthiness and Responsibility
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Under this approach what is important is that the decision was made for the right reasons:
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Deontology
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\"This theory argues that the best ethical alternative is the one that will produce the greatest amount of happiness to the largest number of stakeholders:
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Utilitarianism
