The following statements have appeared in newspaper editorials: 1. Business students come from all segments of society. If they have not been taught ethics by their families and by their elementary and secondary schools, a business school can have little effect. 2. Sacrificing self-interest for the collective good won’t happen unless a majority of Americans also accept this premise. 3. Competent executives manage people and resources for the good of society. Monetary benefits and titles are simply the by-products of doing a good job. 4. Unethical firms and individuals, like high rollers in Las Vegas, are eventually wiped out financially. Required: Assess and comment on each of the statements.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following statements have appeared in newspaper editorials:
1. Business students come from all segments of society. If they have not been taught ethics by
their families and by their elementary and secondary schools, a business school can have little
effect.
2. Sacrificing self-interest for the collective good won’t happen unless a majority of Americans
also accept this premise.
3. Competent executives manage people and resources for the good of society. Monetary benefits
and titles are simply the by-products of doing a good job.
4. Unethical firms and individuals, like high rollers in Las Vegas, are eventually wiped out
financially.
Required:
Assess and comment on each of the statements.

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