Question 1

What are the characteristics of a profession?

Accepted Answer

A profession is characterized by a combination of attributes that distinguish it from other types of occupations or jobs. The following are some of the key characteristics of a profession:

1. Specialized Knowledge: Professionals possess a body of knowledge that is not readily known to the general public. This knowledge is often theoretical, and it is acquired through extensive education and training.

2. Advanced Education and Training: Entry into a profession typically requires completion of a specialized course of study at a higher education institution, often culminating in a degree or certification. Continuous professional development is also a hallmark of many professions.

3. Autonomy: Professionals often have the authority to make decisions and exercise judgment within their area of expertise. They are expected to work independently and are often self-regulated.

4. Ethical Standards: Professions are governed by codes of ethics that outline the moral and ethical responsibilities of their members. Adherence to these standards is crucial for maintaining the integrity and trustworthiness of the profession.

5. Public Service Orientation: Many professions have a strong commitment to serving the public good. This can include providing essential services, improving public welfare, and upholding societal values.

6. Regulation and Licensing: Professions are typically regulated by professional bodies or government agencies that establish standards for practice, including licensing requirements. This helps to ensure that practitioners meet certain qualifications and maintain professional competence.

7. Accountability: Professionals are accountable to their clients, the public, and their professional bodies for their actions and the services they provide. This accountability is often enforced through peer review, disciplinary procedures, and legal mechanisms.

8. Professional Culture and Identity: Members of a profession often share a sense of identity and common values that are reinforced through professional associations, conferences, and publications.

9. Commitment to Excellence: Professionals are expected to commit to high standards of practice and to continually strive for excellence in their work.

10. Recognition by Society: Professions are typically recognized and respected by society due to their specialized knowledge, contributions to the public good, and adherence to ethical standards.

These characteristics help to ensure that professionals are capable, reliable, and dedicated to upholding the standards and responsibilities of their chosen field.

Question 2

Legal mandates and ethical mandates are:

Accepted Answer

A)  Identical 
B)  Different, with legal mandates usually imposing higher behavioral requirements than ethical mandates 
C)  Different, with ethical mandates usually imposing higher behavioral requirements than legal mandates 
D)  Both imposed on professional accountants, with legal mandates typically having broader application 
A)  Identical 
B)  Different, with legal mandates usually imposing higher behavioral requirements than ethical mandates 
C)  Different, with ethical mandates usually imposing higher behavioral requirements than legal mandates 
D)  Both imposed on professional accountants, with legal mandates typically having broader application C

Question 3

An unethical act:

Accepted Answer

A)  Is always illegal as well 
B)  Is not necessarily illegal 
C)  Must, at minimum, violate a government regulation 
D)  Is determined for the accounting profession by the FASB 
A)  Is always illegal as well 
B)  Is not necessarily illegal 
C)  Must, at minimum, violate a government regulation 
D)  Is determined for the accounting profession by the FASB B

Question 4

One of Carol Gilligan's key conclusions is that:

Accepted Answer

A)  Men are more ethical than women 
B)  Women are more ethical than men in resolving dilemmas that hinge on issues of fairness and justice 
C)  At higher stages of moral development, women are more focused on issues of compassion for those in need than men are 
D)  At higher stages of moral development, women are more focused on issues of equality of opportunity for all than men are 
A)  Men are more ethical than women 
B)  Women are more ethical than men in resolving dilemmas that hinge on issues of fairness and justice 
C)  At higher stages of moral development, women are more focused on issues of compassion for those in need than men are 
D)  At higher stages of moral development, women are more focused on issues of equality of opportunity for all than men are

Question 5

Discuss an ethical issue that you believe you resolved using a System 2 mental response.

Accepted Answer

One ethical issue that I believe I resol

Question 6

Carol Gilligan's key thesis is that:

Accepted Answer

A)  Women are less willing to violate laws and established societal norms than men are 
B)  Women are less willing to engage in risky, unethical behavior than men are 
C)  Women are more focused on principles of compassion than principles of justice 
D)  Women have greater compassion for those who deviate from ethical norms than men have 
A)  Women are less willing to violate laws and established societal norms than men are 
B)  Women are less willing to engage in risky, unethical behavior than men are 
C)  Women are more focused on principles of compassion than principles of justice 
D)  Women have greater compassion for those who deviate from ethical norms than men have

Question 7

Of all of the characteristics of a profession,which one is the most important? Why?

Accepted Answer

The most important characteristic of a p

Question 8

Acting based on fear of punishment corresponds to which of the following stages of moral development?

Accepted Answer

A)  The pre-conventional stage 
B)  The conventional stage 
C)  The post-conventional stage 
D)  All of the above 
A)  The pre-conventional stage 
B)  The conventional stage 
C)  The post-conventional stage 
D)  All of the above

Question 9

Some societies believe that justice is best determined by juries comprised of ordinary citizens,but other societies believe that justice is best administered by judges.This is an example of:

Accepted Answer

A)  Ethical relativism 
B)  Ethical absolutism, with certain groups differing in their application of a core ethical principle 
C)  The ethical standardization doctrine 
D)  Ethical self-determination 
A)  Ethical relativism 
B)  Ethical absolutism, with certain groups differing in their application of a core ethical principle 
C)  The ethical standardization doctrine 
D)  Ethical self-determination

Question 10

According to the Objectivity and Independence Principle of the AICPA's Code of Professional Conduct,accountants should always be independent in providing:

Accepted Answer

A)  All professional services 
B)  All services to their employer 
C)  All audit services 
D)  All tax advisory services 
A)  All professional services 
B)  All services to their employer 
C)  All audit services 
D)  All tax advisory services

Question 11

A CPA needs money to be able to pay for surgery that will correct a jaw deformity that results in her young child speaking with a noticeable lisp.The lisp is not a danger to the child's physical health,but it has made it difficult for her to communicate with friends,and it results in her being teased and bullied.The CPA,concerned that this problem will create permanent psychological damage,asked her employer for a $5,000 loan to pay for the needed corrective procedure,but her employer refused this request.
The CPA knows that embezzling the money would be easy to do because her employer is "financially illiterate" and could never detect her misconduct.The CPA plans to take the money and repay it,along with interest,over two years.Consider the following reasoning:
a. I will not take the money because I was not raised in a family that disrespects the law.
b. I won't take the money because I will lose my job.
c. I will take the money because, by the time that my actions are discovered, I will have made many, or even all, of the repayments so my boss will understand and be lenient.
d. I will take the money because my spouse and child will be proud of me for protecting my child against permanent psychological damage.
e. I will not take the money because I am a role model for my child and I would never want her to think that I am a dishonest or devious person.
f. I will take the money because I am willing to risk being criminally prosecuted for embezzlement because it would be a greater wrong if I did not make every possible effort to protect my child against permanent harm. 
g. I won't take the money because I could go to jail. 
h. I will take the money because the boss will never discover my actions. 
i. I will take the money because our legal system would never punish a mother for protecting her child against permanent psychological damage.
j. I will take the money because a parent's first duty is to protect her child against permanent harm. 
k. I will take the money because I am willing to risk losing my job to protect my child against permanent harm. 
To what stage of moral development does each of the above statements correspond?

Accepted Answer

a.4
b.1
c.

Question 12

The AICPA and IFAC Codes of Conduct are:

Accepted Answer

A)  Substantially similar, but not identical 
B)  Identical, except that the AICPA Code applies to Certified Public Accountants and the IFAC Code applies to other professional accountants 
C)  Identical, except that the AICPA Code applies to accountants licensed in the United States and the IFAC Code applies to professional accountants licensed outside the United States 
D)  Identical, except that the AICPA Code applies to individual accountants and the IFAC Code applies to accounting firms and other organizations of accountants 
A)  Substantially similar, but not identical 
B)  Identical, except that the AICPA Code applies to Certified Public Accountants and the IFAC Code applies to other professional accountants 
C)  Identical, except that the AICPA Code applies to accountants licensed in the United States and the IFAC Code applies to professional accountants licensed outside the United States 
D)  Identical, except that the AICPA Code applies to individual accountants and the IFAC Code applies to accounting firms and other organizations of accountants

Question 13

Research the core principles of the IFAC Code of Conduct and compare them to the Principles of the AICPA Code of Professional Conduct.What are the differences? Are these differences important to you?

Accepted Answer

The core principles of the IFAC Code of

Question 14

Discuss an ethical issue that you believe you resolved using a System 1 mental response.

Accepted Answer

One ethical issue that I believe I resol

Question 15

Self-regulation of the auditing profession in the United States:

Accepted Answer

A)  Has always been, and remains, a distinguishing feature of the auditing profession 
B)  Historically has characterized the oversight of auditors of privately-held companies, but no longer does 
C)  Historically has characterized the oversight of auditors of publicly-held companies, but no longer does 
D)  Never has been a characteristic of the auditing profession because government understandably recognizes the need to assure strict compliance with ethical standards designed to protect the investing public 
A)  Has always been, and remains, a distinguishing feature of the auditing profession 
B)  Historically has characterized the oversight of auditors of privately-held companies, but no longer does 
C)  Historically has characterized the oversight of auditors of publicly-held companies, but no longer does 
D)  Never has been a characteristic of the auditing profession because government understandably recognizes the need to assure strict compliance with ethical standards designed to protect the investing public

Question 16

Acting based on a desire to comply with a legal statute,even though you disagree with that statute,corresponds to which of the following stages of moral development?

Accepted Answer

A)  The pre-conventional stage 
B)  The conventional stage 
C)  The post-conventional stage 
D)  All of the above 
A)  The pre-conventional stage 
B)  The conventional stage 
C)  The post-conventional stage 
D)  All of the above

Question 17

Acting on principle,knowing that the party you hurt would have done the same thing if the roles had been reversed,corresponds to which of the following stages of moral development?

Accepted Answer

A)  The pre-conventional stage 
B)  The conventional stage 
C)  The post-conventional stage 
D)  All of the above 
A)  The pre-conventional stage 
B)  The conventional stage 
C)  The post-conventional stage 
D)  All of the above

Question 18

One hallmark of a profession is:

Accepted Answer

A)  Its members' unrelenting dedication to clients' interests over the countervailing public interest 
B)  Its classification as a profession by the U.S. Department of Labor 
C)  Its members' willingness to cooperate with clients by subordinating their judgments in deference to clients' desires 
D)  A member's exercise of independent judgment 
A)  Its members' unrelenting dedication to clients' interests over the countervailing public interest 
B)  Its classification as a profession by the U.S. Department of Labor 
C)  Its members' willingness to cooperate with clients by subordinating their judgments in deference to clients' desires 
D)  A member's exercise of independent judgment

Question 19

If a CPA who is a member of the AICPA fails to abide by the Principles section of the AICPA's Code of Professional Conduct,but otherwise acts in conformity with the Code,the CPA's membership in the AICPA will potentially be:

Accepted Answer

A)  Suspended for a period of up to 30 days 
B)  Suspended for a period of up to one year 
C)  Revoked, with the right to apply for reinstatement after one year 
D)  Not subject to any form of punishment regarding the license to practice accounting 
A)  Suspended for a period of up to 30 days 
B)  Suspended for a period of up to one year 
C)  Revoked, with the right to apply for reinstatement after one year 
D)  Not subject to any form of punishment regarding the license to practice accounting

Question 20

Which of the following is not expressly addressed by the principle of the AICPA Code of Conduct concerning integrity?

Accepted Answer

A)  The duty to maintain objectivity 
B)  The duty to respect client personnel 
C)  The duty to not subordinate one's opinion in favor of the client's viewpoint 
D)  The duty to avoid conflicts of interest 
A)  The duty to maintain objectivity 
B)  The duty to respect client personnel 
C)  The duty to not subordinate one's opinion in favor of the client's viewpoint 
D)  The duty to avoid conflicts of interest

What are the characteristics of a profession?

Legal mandates and ethical mandates are:

An unethical act:

One of Carol Gilligan's key conclusions is that:

Discuss an ethical issue that you believe you resolved using a System 2 mental response.

Carol Gilligan's key thesis is that:

Of all of the characteristics of a profession,which one is the most important? Why?

Acting based on fear of punishment corresponds to which of the following stages of moral development?

Some societies believe that justice is best determined by juries comprised of ordinary citizens,but other societies believe that justice is best administered by judges.This is an example of:

According to the Objectivity and Independence Principle of the AICPA's Code of Professional Conduct,accountants should always be independent in providing:

The AICPA and IFAC Codes of Conduct are:

Research the core principles of the IFAC Code of Conduct and compare them to the Principles of the AICPA Code of Professional Conduct.What are the differences? Are these differences important to you?

Discuss an ethical issue that you believe you resolved using a System 1 mental response.

Self-regulation of the auditing profession in the United States:

Acting based on a desire to comply with a legal statute,even though you disagree with that statute,corresponds to which of the following stages of moral development?

Acting on principle,knowing that the party you hurt would have done the same thing if the roles had been reversed,corresponds to which of the following stages of moral development?

One hallmark of a profession is:

If a CPA who is a member of the AICPA fails to abide by the Principles section of the AICPA's Code of Professional Conduct,but otherwise acts in conformity with the Code,the CPA's membership in the AICPA will potentially be:

Which of the following is not expressly addressed by the principle of the AICPA Code of Conduct concerning integrity?

Introduction to Ethics

The Core Philosophies

Virtue,justice,and Social Responsibility

Why We Cheat

Greed,corruption,and Collusion

Fraud and Earnings Management

Discreditable Acts: Discrimination,deceit,and Disclosure

Confidentiality

Independence and Moral Seduction

Conflicts of Interest

Duties As a Whistleblower

Duties of Public-Company Auditors: the Sarbanesoxley Act

Duties of Tax Professionals

Duties of Fiduciaries: Financial Planners,trustees,and Executors

Duties in the Accounting Workplace Online Only

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Exam 2: Ethical Principles and Reasoning

What are the characteristics of a profession?

Legal mandates and ethical mandates are:

An unethical act:

One of Carol Gilligan's key conclusions is that:

Discuss an ethical issue that you believe you resolved using a System 2 mental response.

Carol Gilligan's key thesis is that:

Of all of the characteristics of a profession,which one is the most important? Why?

Acting based on fear of punishment corresponds to which of the following stages of moral development?

Some societies believe that justice is best determined by juries comprised of ordinary citizens,but other societies believe that justice is best administered by judges.This is an example of:

According to the Objectivity and Independence Principle of the AICPA's Code of Professional Conduct,accountants should always be independent in providing:

The AICPA and IFAC Codes of Conduct are:

Research the core principles of the IFAC Code of Conduct and compare them to the Principles of the AICPA Code of Professional Conduct.What are the differences? Are these differences important to you?

Discuss an ethical issue that you believe you resolved using a System 1 mental response.

Self-regulation of the auditing profession in the United States:

Acting based on a desire to comply with a legal statute,even though you disagree with that statute,corresponds to which of the following stages of moral development?

Acting on principle,knowing that the party you hurt would have done the same thing if the roles had been reversed,corresponds to which of the following stages of moral development?

One hallmark of a profession is:

If a CPA who is a member of the AICPA fails to abide by the Principles section of the AICPA's Code of Professional Conduct,but otherwise acts in conformity with the Code,the CPA's membership in the AICPA will potentially be:

Which of the following is not expressly addressed by the principle of the AICPA Code of Conduct concerning integrity?

Introduction to Ethics

The Core Philosophies

Virtue,justice,and Social Responsibility

Why We Cheat

Greed,corruption,and Collusion

Fraud and Earnings Management

Discreditable Acts: Discrimination,deceit,and Disclosure

Confidentiality

Independence and Moral Seduction

Conflicts of Interest

Duties As a Whistleblower

Duties of Public-Company Auditors: the Sarbanesoxley Act

Duties of Tax Professionals

Duties of Fiduciaries: Financial Planners,trustees,and Executors

Duties in the Accounting Workplace Online Only

Filters