Steve Is in Charge of Accounting for the Purchase of Equipment

question 43

Multiple Choice

Steve is in charge of accounting for the purchase of equipment at Cal Works, Inc.The company has a policy that all expenditures greater than $1,000 must be capitalized.Steve is under pressure from his supervisor to minimize capital expenditures less than $1,000 to keep earnings as high as possible.Steve decides to take two separate expenditures - one for $600 and the other for $900 - and he groups them into one expenditure so that the capitalization rules apply.Steve's actions can be characterized as:

• A)Lacking in of moral sensitivity
• B)Lacking in professional skepticism
• C)Loyal to the company's best interests
• D)All of the above

Distinguish between different online communication methods.

Identify the key features of web browsers and their functionality.

Recognize the importance of digital ethics and legalities, including issues surrounding cyberbullying and cyberstalking.

Understand the concepts of geolocation, metadata, and the semantic web in digital contexts.

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Definitions:

Common Law Negligence

A legal principle that imposes a duty to act with the care and diligence that a reasonably prudent person would under the same circumstances, where failure to do so results in harm or damage to another.

Restatement (Second) of Torts

The Restatement (Second) of Torts is a legal treatise from the American Law Institute that summarizes the general principles of common law torts in the United States.

Professional Negligence

The failure of a professional to perform their services with the skill and care that should be exercised by competent professionals in the same field, leading to harm.

Nonclients

Individuals or entities that have not entered into a professional service relationship with certain professionals, such as lawyers or accountants, and consequently, the professional does not owe them the same duty of care.