With Respect to Ethics, the Rights-Based Approach

question 37

Multiple Choice

With respect to ethics, the rights-based approach:

• A)suggests that auditors should always verify ownership of a client's material tangible assets.
• B)is primarily concerned with equity and impartiality.
• C)suggests that an individual's actions should not violate the rights of any individual.
• D)recognizes that decisions involve trade-offs between costs and benefits.

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Definitions:

Social Security Trust Fund

A governmental fund that collects payroll taxes to provide retirement, disability, and survivors' benefits.

Federal Government

The national government of a federation, responsible for national affairs, distinct from state or local governments.

Bonds

Fixed-income securities that represent loans made by investors to borrowers, typically corporate or governmental, which pay interest over a defined period and return the principal at maturity.

Baby Boomers

The demographic cohort born approximately between 1946 and 1964, experiencing significant political, economic, and social changes.