Divide the Class into Two Groups

question 14

Essay

Divide the class into two groups.Have one side of the room read pages 52-53
on ethical relativism and apply it to the following vignette.Have the other side
of the room read pages 53-54 on ethical absolutism and apply it the vignette
below.
Nina is a 19-year-old female in her final semester of high school.Nina has been accepted on a full scholarship to UVA for the fall semester to study English.She has been sexually active since the age of 16 and has had more than 6 partners.Nina takes the birth control pill but does not like the feel of a condom, thus oral contraception is her only line of defense.She has been dating Jimmy (age 22) for three months and discovers she is pregnant and has been infected with Chlamydia (a treatable and curable STD).Nina is considering not telling Jimmy and having an abortion.

Apply the expense recognition (matching) principle to determine when expenses should be recognized in the income statement.

Accurately prepare and interpret journal entries for various accounting transactions.

Recognize and differentiate between accounts with debit and credit balances within the context of the double-entry accounting system.

Understand the implications of transactions on the accounting equation (Assets = Liabilities + Stockholders’ Equity).

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Definitions:

Convertible Bond

A type of bond that can be converted into a predetermined number of the issuer's equity shares at certain times during the bond's life, usually at the discretion of the bondholder.

Early Retirement

Choosing to retire before the traditional retirement age, often with eligibility for certain benefits.