EBK BUSINESS & PROFESSIONAL ETHICS FOR
8th Edition
ISBN: 9781337514460
Author: DUNN
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Explain the problems of adverse selection and moral hazard caused by asymmetricinformation. How can financial intermediaries alleviate those problems?
is there an ethical issue that must be considered between the financial advisor and the client in regard to a knowledge gap?
Having inaccurate financial statements that can harm society would correspond with the ethical perspective of distributive justice. Discuss
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- Is there a way to prevent managers from focusing on accounting measures as performance measures?arrow_forwardWhy accountants are not afraid of subjectivity? Theoryarrow_forwardWhat measures can a management accountant take if existing written policies do not give adequate direction on how to deal with an ethical dilemma in their organization?arrow_forward
- In the text, we point out that Rest’s model is not linear in nature. An individual who demonstrates adequacy in one component may not necessarily be adequate in another, and moral failure can occur when there is a deficiency in any one component. Give an example in accounting when ethical intent may not be sufficient to produce ethical behavior and explain why that is the case.arrow_forwardWhat is the concept of conservatism in accounting and why is it important? Discuss the potential drawbacks of applying conservatism too strictly.arrow_forwardHow does/can a financial intermediary reduce the risk facing them due to Adverse Selection?arrow_forward
- considering the need to get to know the customer, how does the advisor present financial products fairly? And does a comparative of financial products always work? Can the behavioral component of the client to purchase a financial product and the complexity of the financial product provide a hinderance to an ethical presentation?arrow_forwardWhat steps should a management accountant take if established written policies provide insufficient guidance on how to handle an ethical conflict?arrow_forwardUse your own word to explain heuristics and In a business context,how would heuristics lead to poor decision making?arrow_forward
- How does an investment advisor deal with a situation where he is convinced the client’s investment decisions fall outside his investment objectives and risk tolerance? What are the ethical issues?arrow_forwardDiscuss the importance of ethical behavior in accounting and the consequences of unethical behavior.arrow_forwardThe chapter encourages analysts to develop forecasts that are realistic, objective, and unbiased. Some firms managers tend to be optimistic. Some accounting principles tend to be conservative. Describe the different risks and incentives that managers, accountants, and analysts face. Explain how these different risks and incentives lead managers, accountants, and analysts to different biases when predicting uncertain outcomes.arrow_forward
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