100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Test Bank for Business and Professional Ethics 9th Edition By Leonard Brooks, Paul Dunn (All Chapters, 100% Original Verified, A+ Grade)$29.49
Add to cart
Test Bank for Business and Professional Ethics 9th Edition By Leonard Brooks, Paul Dunn (All Chapters, 100% Original Verified, A+ Grade)
91 views 0 purchase
Course
Business and Professional Ethics 9th edition
Institution
Business And Professional Ethics 9th Edition
Test Bank for Business and Professional Ethics 9th Edition By Leonard Brooks, Paul Dunn (All Chapters, 100% Original Verified, A+ Grade)
Test Bank for Business and Professional Ethics 9e By Leonard Brooks, Paul Dunn (All Chapters, 100% Original Verified, A+ Grade)
Name: Class: Date: Ch01
Powered by Cognero Page 1 Indicate the answer choice that best completes the statement or answers the question.
1.The difference between what the public thinks it is getting in audited financial statements and what the public
is actually getting is known as:
a. the credibility gap.
b. the expectations gap.
c. the audit gap.
d. the stewardship gap.
e. None of the above
2.Which of the following is not a trend described in Chapter 1 as having an impact on the ethics of business?
a. Directors’ legal liability
b. Management’s stated intention to protect reputation
c. Auditors’ legal liability
d. Management’s assertions to shareholders on the adequacy of internal controls
e. Management’s stated intention to manage risk
3.Which corporate report discusses subjects that include environmental, health and safety, philanthropic, and
other social impacts?
a. A corporate annual report
b. A corporate social responsibility report
c. A corporate quarterly report
d. A corporate stakeholder report
e. A corporate ethics committee report
4.Professional accountants, in their fiduciary role, owe their primary loyalty to:
a. the accounting profession.
b. the client.
c. the general public.
d. government regulations.
e. All of the above
5.Ethical corporate behavior is expected to lead to:
a. higher profitability in the short term.
b. higher profitability in both the short term and the long term.
c. lower profitability in the long term.
d. higher profitability in the long term.
e. lower profitability in both the short term and the long term.
6.Examining the interests of stakeholders is probably required for:
a. high short -term profits.
b. optimal medium - and longer -term profits.Business and Professional Ethics, 9e Leonard Brooks, Paul Dunn (Test Bank All Chapters, 100% Original Verified, A+ Grade) Name: Class: Date: Ch01 Powered by Cognero Page 2 c. continuing support from stakeholder groups. d. effective risk management. e. All of the above 7. A value that is almost universally respected by stakeholder groups is: a. a super norm. b. an alfa norm. c. a value norm. d. a hypernorm. e. a general norm. Indicate one or more answer choices that best complete the statement or answer the question. 8. Since the mid-1990s, both management and auditors have become increasingly: a. profit management oriented. b. ethics oriented. c. value management oriented. d. risk management oriented. e. marketing oriented. Indicate the answer choice that best completes the statement or answers the question. 9. The following are determinants of reputation. a. Trustworthiness and responsibility b. Credibility, responsibility, and relevance c. Responsibility and impartiality d. Relevance and impartiality e. Relevance, credibility, and responsibility 10. The following would be a key control function of a board of directors. a. Set guidance and boundaries b. Appoint the CEO c. Approve the sale of the company’s assets d. Decide on the company’s auditor e. All of the above 11. Companies attempt to manage the risk of something happening that will have a negative or positive impact on the company’s objectives, such as: a. credit risks. b. litigation risks. c. reputation risks. d. ethics risks. Name: Class: Date: Ch01 Powered by Cognero Page 3 e. All of the above 12. Most large corporations do not consider these risks in a broad and comprehensive way. a. Operational risks b. Reputational risks c. Credit risks d. Market risks e. Ethics risks 13. The following are examples of ethics risks faced by employees. a. Honesty and integrity b. Fairness and compassion c. Integrity and responsibility d. Fairness and integrity e. Responsibility and honesty 14. Not reporting environmental issues is an example of: a. a lack of transparency. b. a lack of integrity. c. a lack of accuracy. d. All of the above e. None of the above 15. Incomplete disclosure of a company’s revenue recognition policy is an example of: a. a lack of transparency. b. a lack of integrity. c. a lack of accuracy. d. All of the above e. None of the above 16. This philosophical approach requires that an ethical decision depend upon the duty, rights, and justice involved. a. Consequentialism b. Virtue ethics c. Duty ethics d. Righteousness e. Deontology 17. The Modified Moral Standards Approach focuses on the following dimensions of the impact of a proposed action. a. Whether it provides a net benefit to society, is fair to all stakeholders, is right, and demonstrates the virtues expected Name: Class: Date: Ch01 Powered by Cognero Page 4 b. Whether it provides a net benefit to society and whether it is legal c. Whether it provides a net benefit to society, is fair to all stakeholders, and is legal d. Whether it is fair to most stakeholders and is right e. Whether it provides a net benefit to society, is fair to most stakeholders, and is right 18. This organization is developing an international code of conduct for professional accountants. a. The International Accounting Standards Board b. The European Federation of Accountants c. The Financial Accounting Standards Board d. The Public Accounting Oversight Board e. The International Federation of Accountants Indicate one or more answer choices that best complete the statement or answer the question. 19. The following is a fundamental factor for having an effective ethical corporate culture. a. Tone at the top (Ethical leadership) b. Efficient oversight by the company’s board of directors c. Workplace ethics d. Code of conduct e. An ethics risk management program 20. How do we know that the #MeToo movement has been successful? a. Sexual violence against women has stopped. b. Police forces are taking women’s complaints of bullying seriously. c. Court cases against high-ranking executives and celebrities are becoming successful. d. Major companies are investigating and firing executives accused of sexual misbehavior with employees. e. None of the above 21. The August 2019 Business Roundtable Statement on the Purpose of a Corporation is important because: a. It confirms that profit maximization is the appropriate sole goal of corporations. b. It confirms that corporations are accountable only to shareholders. c. It confirms that corporations are to benefit all stakeholders. d. It changes what most executives have thought. e. None of the above Indicate the answer choice that best completes the statement or answers the question. 22. NOCLAR rules or standards are important because they: a. will cause business to observe No Carbon Required practices. b. will cause executives to be less aggressive. c. will cause professional accountants to violate employer confidences.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tutorsection. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.49. You're not tied to anything after your purchase.
