Michael D. Bayles | the Professional-Client Relationship

question 76

Multiple Choice

Michael D. Bayles | The Professional-Client Relationship
Bayles presents a number of ethical models relevant to the professional-client relationship, based on the proportion of authority and responsibility expected from each: agency, contract, friendship, paternalism, and fiduciary. He concludes with support for a model that gives the most freedom and authority to clients, given their knowledge of the situation, a contract between equals whenever possible, and a paternalistic model only for cases in which a client may be incompetent
-To the extent a professional neglects a client's values and interests, the client's ___________ is also sacrificed.

• A) accountability
• B) responsibility
• C) autonomy
• D) trustworthiness

Distinguish between employees and independent contractors based on legal definitions and implications.

Recognize the legal authority and responsibilities of agents acting on behalf of principals.

Identify the legal doctrines related to employment, including employment at will and exceptions to it.

Understand the concept of ratification and its significance in the context of agency and employment law.

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Definitions:

Carrying Amount

The net value of an asset or liability according to a company's balance sheet, also known as book value.