Ali Started an Accounting Firm a Year Ago and Has

question 61

Multiple Choice

Ali started an accounting firm a year ago and has just hired his tenth employee. He decides the business needs a code of ethics. How should he begin the process of creating one?

• A) He should have a legal team or lawyer draw up the basic needs of a code of ethics.
• B) He should write the initial draft and then get his CFO or vice president's input.
• C) He should make a template based on another organizations' code of ethics.
• D) He should solicit employee input into the initial needs of the code of ethics.

Distinguish between different types of torts and understand their applicability in various legal scenarios.

Grasp the concept of strict liability and circumstances under which it would apply.

Understand the principles surrounding contributory negligence and voluntary assumption of risk.

Recognize the role and implications of fiduciary duties in professional relationships.

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Definitions:

Cognitive Functioning

The mental processes involved in gaining knowledge and comprehension, including thinking, remembering, and problem-solving.

Prenatal Use

Prenatal use typically refers to the consumption of substances, medications, or other practices engaged in by a pregnant woman that could affect her health and/or the health of her unborn baby.

Masculinized External Sex Organs

Development of external sex organs in a way that resembles typical male genitalia, often due to hormonal influences.

Female Genotype

The genetic makeup of a female organism, characterized typically by having two X chromosomes.