Detecting Accounting Fraud

Business

Quiz 2 :

Making Ethical Decisions in the Business World

Quiz 2 :

Making Ethical Decisions in the Business World

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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. The purpose of an audit is to make the com­pany feel positive about its business plan.
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True False
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Answer:

Audit
Audit is an official assessment and that provides an independent opinion about the financial statements.
Answer: F
Justification: Audit is an official assessment and that provides an independent opinion about the financial statements and do not deal with the business plans. Hence, the answer is false.
Therefore, the correct answer is
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. The rights approach to the analysis of ethical dilemmas is usually combined with the justice approach.
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Rights Approach
Right is a moral action. The rights approach is linked with the duties approach. Then, the rights approach brings alternative actions.
Answer: F
Justification: The rights approach is linked with the duties approach. Then, the rights approach brings reciprocal duty. Hence, the given answer is false.
Therefore, the correct answer is
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. A consequentialist framework always is able to predict every foreseeable outcome of any given action.
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Consequentialism
Consequentialism is a part of normative ethics. It is used to study the morality of selecting a right action and the judgment of the action is determined from the consequence of the action taken.
Answer: False
Justification: Consequentialism cannot predict the every outcome of an action. This is a limitation of consequentialism. As per consequentialism, consequence of an action can be evaluated; but not the every possible consequence. Hence, the answer is false.
Therefore, the correct answer is
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Fill in the blank with information and concepts from this chapter. Bentham's protégé, John Stuart Mill (1806-1873), defined happiness as the presence of pleasure and the absence of pain and believed that actions have utility when they ____________ happiness.
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Fill in the blank with information and concepts from this chapter. Investors are considered to be _________ when the utilitarian model is used by an auditor making a decision about whether to qualify an audit report.
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Fill in the blank with information and concepts from this chapter. The leading form of consequentialism is ____________.
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Fill in the blank with information and concepts from this chapter. To the virtue ethicist, the most important aspect of morality is having the right ____________.
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Fill in the blank with information and concepts from this chapter. ____________ formulated the categorical imperative.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. Deontology judges right action based on one's duties.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. Business ethics is a type of metaethics.
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Fill in the blank with information and concepts from this chapter. "The greatest happiness for the great­est number" is the main tenet of ____________.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. Utilitarianism is a form of deontology.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. Consequentialism is agent-centered.
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Fill in the blank with information and concepts from this chapter. The most famous proponent of virtue ethics was ____________.
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Fill in the blank with information and concepts from this chapter. Distributive justice is concerned with how goods are ____________.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. Developing good character is crucial to consequentialism.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. Virtue ethics offers strict prescriptions for how to act.
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Fill in the blank with information and concepts from this chapter. Equality, ________ merit, contribution, and effort are the principles of distribu­tive justice, according to philosopher Joel Feinberg.
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Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter. An example of an in persona right is the right to have a loan repaid.
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