There Is a Conflict Between Prudence and Objectivity Because;

question 4

Multiple Choice

There is a conflict between prudence and objectivity because;

• A)prudence implies judgement and can never be completely objective
• B)prudence cannot be exercised because accounting information is not open to interpretation
• C)as accounting information is numeric there can be no doubt about the accuracy
• D)numbers can be manipulated so it is impossible to be objective

Comprehend the role of avoidable costs in discontinuing a business segment or product.

Evaluate financial decisions involving special orders and use of idle capacity to increase profits.

Understand the ethical theories and approaches in decision making.

Identify the steps of a general framework for ethics.

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Definitions:

Adult Children

Adults who have to assume significant responsibility from a young age, often due to parental absence or incapacity.

Fictive Kin

Individuals who are not related by blood or marriage but are considered and treated as family members due to strong bonds and emotional connections.

Legal Families

Groups of individuals related by blood, marriage, or adoption and recognized as such by law.

Social Convoy

A theory stressing the importance of social relationships that individuals accumulate over their lives, acting as a protective and supportive network.