Accounting Ethics Exam 1 Questions And Answers 2024/2025 Graded A

In doing your conflict check in preparation to bid on the Acme audit you discover that your partner's son works in the warehouse, stocking shelves at Acme. Will this prohibit you from doing the audit? a)Yes b)No {Ans: b)No}Deontology is a school of ethical thought that: a)Considers the rights and duties of stakeholders b)Defines the "right" course of action in terms of consequences to the decision maker. c)Evaluates the consequences of actions (harms and Benefits) to the stakeholders d)Traces its origins back to the ancient Greeks, Plato and Aristotle e)Is associated with John Rawls of Harvard University {Ans: a)Considers the rights and duties of stakeholders}The Independence Principle in the AICPA Code applies to: a)All accountants and auditors b)All CPAs regardless of professional services c)All CPAs who render attestation services d)All members of the audit committee {Ans: d)All members of the audit committee}The American Advertising Agency, Kenyon & Eckhardt, was among the first to promote socially redeeming advertising. a. a)True b. b)False {Ans: a. a)True}In Fords handling of the Pinto gas tank problems : a)Utilitarianism trumped a deontological approach to the problem. b)The company decided what to do by considering Rawl's Theory of Social Justice c)The company