If an Accountant Takes an Action That Is Deliberately Designed

question 81

Multiple Choice

If an accountant takes an action that is deliberately designed to improve the company's financial results,it would be considered unethical if:

• A) it deliberately misrepresents facts.
• B) the action was taken specifically for the purpose of showing higher income.
• C) the action will require a special journal entry.
• D) the action is not in the best interests of the business owners.

Discuss the potential conflicts and harmonies between ethical principles and legal requirements.

Critique ethical decisions in case scenarios based on underlying ethical theories.

Explain the concept of enlightened corporate self-interest and its impacts on corporate and social welfare.

Understand the concepts of proactive and retroactive interference in memory.

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Definitions:

Ownership

The legal right or title to possess property, including the rights to use, sell, or transfer it.

Exculpatory Clause

A contract term designed to release one of the parties from liability for harm or wrongdoing, transferring the risk to another party.

Enforceable

A term describing a legal agreement or contract that is valid and can be upheld and compelled by law or court order.

Unconscionable

Related to actions or conditions that are shockingly unfair, immoral, or unjust, often to the extent that they are unenforceable in court.