ACP AUDITING - RISK BASED APPROACH
10th Edition
ISBN: 9780357195079
Author: JOHNSTONE
Publisher: CENGAGE C
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Chapter 4, Problem 21MCQ
To determine
Concept introduction: The utilitarian theory favors the actions which result in overall happiness or goodness and discourages the actions that cause bad results or harm. This theory can be applied to social, economic, or political aspects, which always looks for the betterment.
The ethical dilemma is a critical situation where different angles of the law or ethics raise a boundary for performance or non-performance of a task.
To choose:The action that is not required to resolve an ethical dilemma by utilitarianism.
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Explain the steps that apply your own sense of right and wrong to ethical dilemmas.
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To be ethical, the agent (person) must judge action viewed by absoluteness of good motive according to the deontological viewpoint which explains that the deontologists look at the essential consequences of the acts. TRUE or FALSE? Justify your claim and if needed, identify the error and change it into its appropriate use. Provide the positive and negative sides of using deontological ethics.
Chapter 4 Solutions
ACP AUDITING - RISK BASED APPROACH
Ch. 4 - Prob. 1TFQCh. 4 - Prob. 2TFQCh. 4 - Prob. 3TFQCh. 4 - Prob. 4TFQCh. 4 - Prob. 5TFQCh. 4 - Prob. 6TFQCh. 4 - Prob. 7TFQCh. 4 - Prob. 8TFQCh. 4 - Utilitarian theory holds that what is ethical is...Ch. 4 - Prob. 10TFQ
Ch. 4 - Prob. 11TFQCh. 4 - Prob. 12TFQCh. 4 - Prob. 13MCQCh. 4 - Prob. 14MCQCh. 4 - Prob. 15MCQCh. 4 - Prob. 16MCQCh. 4 - Prob. 17MCQCh. 4 - Prob. 18MCQCh. 4 - Prob. 19MCQCh. 4 - Prob. 20MCQCh. 4 - Prob. 21MCQCh. 4 - Prob. 22MCQCh. 4 - Prob. 23MCQCh. 4 - Prob. 24MCQCh. 4 - Prob. 25RSCQCh. 4 - Prob. 26RSCQCh. 4 - Prob. 27RSCQCh. 4 - Prob. 28RSCQCh. 4 - Prob. 29RSCQCh. 4 - Prob. 30RSCQCh. 4 - Refer to the Focus on Fraud feature “Moss Adams...Ch. 4 - Prob. 32RSCQCh. 4 - Prob. 33RSCQCh. 4 - Prob. 34RSCQCh. 4 - Prob. 35RSCQCh. 4 - Prob. 36RSCQCh. 4 - Prob. 37RSCQCh. 4 - Prob. 38RSCQCh. 4 - Prob. 39RSCQCh. 4 - Prob. 40RSCQCh. 4 - Prob. 41RSCQCh. 4 - Prob. 42RSCQCh. 4 - Prob. 43RSCQCh. 4 - Prob. 44RSCQCh. 4 - Prob. 45RSCQCh. 4 - Prob. 46RSCQCh. 4 - Prob. 47RSCQCh. 4 - Prob. 48RSCQCh. 4 - Prob. 49RSCQCh. 4 - Prob. 50RSCQCh. 4 - Prob. 51RSCQCh. 4 - Refer to Exhibit 4.4. Briefly explain the seven...Ch. 4 - Prob. 53RSCQCh. 4 - Prob. 54RSCQCh. 4 - Prob. 55RSCQCh. 4 - Prob. 56RSCQCh. 4 - Prob. 57RSCQCh. 4 - Prob. 58RSCQCh. 4 - Prob. 59RSCQCh. 4 - Prob. 60RSCQCh. 4 - Prob. 61RSCQCh. 4 - Prob. 62RSCQCh. 4 - Prob. 63RSCQCh. 4 - Prob. 64RSCQCh. 4 - KPMG (LO 1, 2, 3) KPMG LLP served as the external...Ch. 4 - Prob. 66FF
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- 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.arrow_forwardUtilitarian theory holds that what is ethical is the action that achieves the greatest good for the least number of people.arrow_forwardAccording to the framework for ethical decision making, which of the following should the decision maker consider? Question 4 options: All possible alternative courses of action. The consequences associated with possible actions. Whether the rights framework would cause any course of action to be added. All of the above.arrow_forward
- Which of the following science is involved in arriving at moral standards that regulate right and wrong conduct? O a. Social O b. Normative O c. Biological O d. Behavioralarrow_forwardWhich one of the following is related to the nature of ethics? a. All options are correct b. Ethics study about moral behavior at an individual level c. Ethics is applied to humans only d. Ethics deals with actions that are voluntaryarrow_forwardBriefly define what an ethical dilemma is and describe thesteps to consider when evaluating ethical dilemmas.arrow_forward
- Which of the following statements about ethical choices and dilemmas are true, according to the text? MARK ALL THAT APPLY An ethical dilemma is defined as a situation where two or more "right" values are in conflict. Ethics can be defined in terms of individual and/or group principles, norms, and standards of conduct. Ethical choices can be considered highly personal and relative. All ethical choices are clear-cut enough that we can decide what to do rather easily because they pit "right" against "wrong." Ethical dilemmas represent conflicts in values.arrow_forwardThe process of ethical decision making involves commitment, consciousness, and competency. Identify the choice that describes ‘consciousness” choose correct answer a.ability to collect and evaluate information and foresee potential risks b.awareness to act consistently and apply morals in everyday behavior c.ability to evaluate information and develop alternatives d.desire to do the right thing regardless of the costarrow_forwarda. What is the relationship between a. the ethical obligation of honesty and truth telling?b. Is it ever proper to not tell someone something that he or she has an expectation of knowing? If so, describe under what circumstances this might be the case. How does this square with rights theory?arrow_forward
- Describe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision without evidence for support. For each of the situations described, explain how the use of evidence (or the lack of it) impacted the outcome of your decision making. Be specific in terms of positive and negative impacts.arrow_forwardExplain why moral problems may be of greater intensity than nonmoral problems.arrow_forwardWho are the CPAs who encounter Ethical Dilemmas?arrow_forward
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