Question 1

An internal accountant should always take the following step after exhausting all avenues of appeal within the organization when there is a difference of opinion with top management on an accounting or financial reporting matter: Answer Inform the SEC Terminate employment with the entity Seek legal advice before taking any action All of the above

Question 2

Choosing the action with the best overall consequences for everyone concerned is an example of: Answer the principle of egoism the principle of ethics the principle of deontology the principle of utility

Question 3

Each of the following is an element of honesty according to the Josephson Institute except for: Answer Reliability Loyalty Fairness Integrity

Question 4

If one's reputation is tainted it may create a: Answer Conflict of interests Loss of independence Lack of trust All of the above

Question 5

In the Student's Dilemma case, the main ethical issue for Helen is whether: Answer She should use the copy of the final exam given to her by her friend to maximize her grade in the course. She should give a copy of the final exam she found in the Accounting department to her friend. She should steal the final exam from the instructor's mailbox. She should tell the instructor that her friend stole the final exam.

Question 6

Many critics say the biggest fault with utilitarianism is that it: Answer Does not work in the real world Makes people appear helpless Makes everyone on equal footing It's impossible to foresee and measure all consequences

Question 7

The best restatement of Kant's categorical imperative is: Answer Do to others as you would have everyone do unto you. Consider others needs before you act. That those with a smaller stake should have a smaller say compared to those with a bigger stake. Don't be cruel until someone is cruel to you.

Question 8

The method of ethical reasoning that deals with making decisions after considering the interests of others is: Answer Egoism Enlightened Egoism Utilitarianism Rights Theory Question 9

The method of ethical reasoning that evaluates actions in terms of harms and benefits is: Answer Act Utilitarianism Rights Theory Justice Virtue Question 10

The most important duty of public accounting is to the: Answer Securities Exchange Commission Current stockholders Management Investing public