Chapter 1, Problem 14.1EC

Which of the following is not a step in the outline for examining ethical issues? Establish the facts of the situation. Evaluate each course of action. Make a decision. Confirm decision with FASB.

Utilitarianism does not require which of the following actions when a person considers how to resolve an ethical dilemma? a. Identification of the potential problem and courses of action. b. Identification of the potential direct or indirect impact of actions on each affected party who has an interest in the outcome. c. Identification of the motivation of the person facing the ethical dilemma. d. Assessment of the desirability of each action for each affected party.

Refer to the Why It Matters feature “What Is Professional Judgment?” Explain the term professional judgment.