Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN: 9781337485913
Author: BROOKS
Publisher: Cengage
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Students have asked these similar questions
Internal control does not consist of policies and procedures that
a. ensure employees and managers comply with laws and regulations
b. protect assets from misuse
C. guarantee the company will earn a profit
d. ensure that business information is accurate
nternal control does not consist of policies and procedures that
Select one:
a. Ensure that business information is accurate
b. Protect assets from misuse
c. Guarantee the company will earn a profit
d. Ensure employees and managers comply with laws and regulations
How do the concepts of cognitive dissonance and organizational/ethical dissonance relate to whether an accountant might choose to blow the whistle on corporate wrongdoing?
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- Why are internal accounting controls important to a business? What are advantages vs. the disadvantages? Is there a cost to the business for these internal controls? Who requires the controls?arrow_forwardDo you think there are any circumstances when you should go outside the company to report financial wrongdoing? If so, to what person/organization would you go? Why? If not, why would you not take the information outside the company?arrow_forwardUnder the current system, the risk of engaging in criminal behaviours is evaluated by corporate managers who have very little to lose". Is this statement accurate or inaccurate? (Explain why or why not sufficiently)arrow_forward
- Which of the following nature of corporate governance damages the financial stability of the business? O a. It is structured ambiguously. Ob. It is compliant with the formal laws. Oc.it is adhering to the ethical standards. O d. It is adhering the best business practices.arrow_forwardAnalyze and discuss when earnings management may be an ethical practice and when it is an unethical practice.arrow_forwardDiscuss the importance of ethical behavior in accounting and the consequences of unethical behavior.arrow_forward
- what happens when director is being irresponsible in the company?arrow_forward1. Cite specific examples of risk avoidance, Reduction, Transfer and Retention? 2. What is the significance of internal control in an organization? Cite an example of a company that failed due to IC deficiency?arrow_forwardMost managers have no difficulty avoiding blatantly dishonest actions. But sometimes there are gray areas, where it is debatable whether an action is unethical and unacceptable. Suggest an important ethical dilemma that companies may face. What principles should guide their decision?arrow_forward
- Which of the following is not part of the definition of internal control? a. Separation of duties b. Safeguard assets c. Encourage employees to follow company policies d. Promote operational efficiencyarrow_forwardWhy should businesses shift to an electronic accounting system? How can controls deter fraudulent practices in a business?arrow_forwardSome argue against corporate involvement in socially responsible behavior because the costs incurred by such behavior place the organization at a disadvantage in a competitive market. Discuss the merits and flaws of this argument.arrow_forward
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