Debra and Dexter Are CPAs Specializing in Tax Planning and Preparation.Recently

question 52

Multiple Choice

Debra and Dexter are CPAs specializing in tax planning and preparation.Recently, Dexter commented that there is nothing ethically wrong with tax evasion, so long as the number of people who benefit is greater than the number of people harmed.Which school of ethical thought does Dexter follow?

• A)ethical egoism
• B)utilitarianism
• C)deontology
• D)virtue ethics

---

Definitions:

Pension Plan Asset

The resources set aside to meet future pension obligations, including investments and other assets.

IFRS

International Financial Reporting Standards is a set of accounting standards developed by the International Accounting Standards Board (IASB) that is applied globally.

U.S. GAAP

The Generally Accepted Accounting Principles in the United States, a framework of accounting standards and procedures used in the U.S. to compile financial statements.

Prior Service Cost

The cost of retroactive benefits awarded in a pension plan amendment, which is recognized over future periods.