Michael Davis | Professional Responsibility: Just Following the Rules

question 85

Multiple Choice

Michael Davis | Professional Responsibility: Just Following the Rules?
Davis criticizes the view that professional responsibility goes beyond merely following the rules of one's code of ethics by necessarily involving certain character virtues. Rather, if a code of ethics is well-written, following these rules means that a professional is acting responsibly. He discusses seven different interpretations of "just following the rules": blind obedience, strict obedience, malicious obedience, negligent obedience, accidental obedience, stupid obedience, concluding with a positive discussion of interpretative obedience.
-Most professionals are able to discern whether a particular service is within their area of

• A) confidence
• B) vision
• C) contention
• D) competence

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Definitions:

Present Value

The today's equivalent value of a future financial sum or cash flows, discounted at a predetermined rate of return.

CCA Tax Shield

The reduction in taxable income for Canadian businesses, derived from depreciating assets over time under Canada's Capital Cost Allowance regime.

Required Rate of Return

The lowest yearly percentage gain that convinces individuals or corporations to invest in a specific security or initiative.

After-tax Cash Flow

The amount of money a company has after it has paid taxes, representing the net cash inflow or outflow from its operating, investing, and financing activities.