Which of the Following Has Set an Outstanding Example of Ethical

question 41

Multiple Choice

Which of the following has set an outstanding example of ethical behavior in the financial professions?

• A) Bernard Madoff of Madoff Securities
• B) Hank Greenberg of AIG
• C) Ramalinga Raju of Satyam Computers
• D) none of the above

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Definitions:

Credit

A financial record that raises a liability or equity account, or reduces an asset or expenditure account.

Debit

A debit is an accounting entry that results in either an increase in assets or expenses or a decrease in liabilities or equity on a company's balance sheet.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the owner's claim on the business assets.

Expenses

Costs incurred in the process of earning revenue, including operational costs like rent, utilities, and payroll.