Read the Following: [Scientists in the Twenty-First Century] Do Not

question 20

Multiple Choice

Read the following: [Scientists in the twenty-first century] do not lack technical expertise; they lack wisdom. We live in a world where biology enables our ability to manipulate the human genome . . . [which] is far ahead of our legal or philosophical ability to regulate how to use this knowledge in fruitful ways. . . . How do we help scientists think in an ethical context? How do we help scientists decide whether or not certain questions should be pursued? (Nikitina, 2006, p. 260)
Nikitina is advocating:

• A) That scientists should not be able to manipulate the human genome.
• B) That scientists should integrate other disciplines from the humanities into their own disciplinary expertise to help incorporate ethics (philosophical insights) into their practices.
• C) That scientists should have good lawyers.

Understand the concept of Cash Short and Over and its treatment in financial statements.

Identify and understand the importance of the control environment within an organization.

Understand the process and significance of bank reconciliation in financial accounting.

Recognize the role and methods of internal controls over cash transactions.

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Definitions:

Market Price

The price at which a product or service is traded in the competitive marketplace.

Put Provision

A clause found in certain securities that allows the holder to force the issuer to repurchase the security at specified prices before maturity.

Fixed Rate Bond

A bond that pays a predetermined interest rate to investors for the entire term of the bond.

Fallen Angel

Originally investment-grade bonds that have been downgraded to junk bond status due to the issuer's weakened financial condition.