Exam 1: Ethical Reasoning: Implications for Accounting

Explain the steps that should be taken by an internal accountant when there is a difference of opinion with one's supervisor on an accounting or financial reporting manner.

A difficult choice between two moral principles that are in conflict with one another is known as a/an:

The cultural value of Individualism reflects

The ethical reasoning method that is based on treating equals, equally and unequals, unequally is:

The Rights Theory incorporates all of the following elements except for:

Describe a situation you have encountered in your personal life where you did not follow the law because you judged another alternative to be more ethical? If you can't think of a personal example, make one up but don't use the example in the text of driving on a two-lane divided roadway. Why did you decide to do that act?

Sally is the only student from a foreign country in an Auditing class. On the day of the midterm exam, Sally asks the teacher whether she could use a dictionary to translate English words to her native tongue so she can better understand the questions. What do you think the instructor should do if she follows the ethical principle of justice?

If one's reputation is tainted it may create a:

In the Lone Star School District case, the auditors were mostly concerned about:

In the Giles and Regas case, the primary ethical issue can be stated as:

Moral philosophy deals with questions such as "How should I live my life?" and "What sort of person should I strive to be?" How should a person evaluate these questions and come to a conclusion?

Explain what is meant by the phrase: "An error doesn't become a mistake until you refuse to correct it."

The method of ethical reasoning that requires selecting the correct moral rule that produces the greatest benefits over harms is:

"Do that action which will bring about the greatest good for the greatest number of people," is the basic concept of which ethical theory?

Ty is a rising star at Texas State Country & Western Stores. He is the controller of the company. His wife, Rosie, is the lead auditor of the CPA firm that examines Country & Western's financial statements and issues an audit opinion. Given the nature of the relationships, Rosie would violate what ethical standard if she is allowed to conduct the audit:

Egoists maintain a general principle of the following sort: