Question 1

The production and marketing emphases of organizations have evolved into what is called a(n) .

Accepted Answer

The term "corporate culture" refers to the values, beliefs, and practices that shape the behavior of individuals and groups within an organization. This includes the production and marketing strategies that organizations focus on in order to meet their goals and objectives. By understanding and shaping their corporate culture, organizations can create a shared vision and sense of purpose that guides decision-making and actions across the company.

Question 2

Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute as related to .

Accepted Answer

AICPA membership is suspended without a hearing if a member is convicted of a crime punishable by imprisonment for more than one year, such as the willful failure to file an income tax return.

Question 3

How are professionals defined? Describe the American Bar Association's Model Rules of Professional Responsibility.

Accepted Answer

The answer of How are professionals defined? Describe the American...

Question 4

In general, corporate codes of ethics apply to upper- and middle-level managers.

Accepted Answer

Corporate codes of ethics typically apply to all levels of employees, including upper- and middle-level managers. It is important for all employees to understand and adhere to these guidelines in order to promote ethical behavior within the company.

Question 5

Which of the following is not a characteristic of professions or professionals?

Accepted Answer

Strict, unexamined adherence to the ideology of one political party is not a characteristic of professions or professionals. The other options, such as mandatory university education, licensing-examination requirements, and formal associations or groups, are commonly associated with professions or professionals.

Question 6

Define the consequential theories, deontological theories, and humanist theories of ethical thought.

Accepted Answer

The answer of Define the consequential theories, deontological theories, and...

Question 7

The Model Rules of Professional Responsibility were established by the .

Accepted Answer

The Model Rules of Professional Responsibility were established by the American Bar Association.

Question 8

Section 806 of the Sarbanes-Oxley Act .

Accepted Answer

Section 806 of the Sarbanes-Oxley Act prohibits any publicly traded company from retaliating or discriminating against an employee who provides information to the government regarding violation of the securities laws. This provision is aimed at protecting whistleblowers who report illegal or unethical conduct by their employers. It is important to note that this protection is limited to employees of publicly traded companies and does not apply to federal whistleblowers reporting agency misconduct (A), limiting securities activities of commercial banks (B), or imposing liability on fraudulent conduct involving governmental programs (C).

Question 9

How did the Sarbanes-Oxley Act result in "internal housecleaning" within firms?

Accepted Answer

The answer of How did the Sarbanes-Oxley Act result in...

Question 10

Classical economists, who support the profit-oriented school of social responsibility, recognize that there will be unintended effects of profit-seeking activities, called , that affect society and cannot be incorporated into or passed on in the price of an output.

Accepted Answer

The term "externalities" refers to unintended effects (positive or negative) of economic activity on third parties who are not directly involved in the activity. Classical economists recognize that these externalities cannot be incorporated into the price of an output, and thus may need to be addressed through government intervention or other means. Choices A, B, and D do not accurately describe this concept.

Question 11

The AICPA Division for CPA Firms requires member firms to ensure that all professionals participate in continuing education programs.

Accepted Answer

The statement is true. The AICPA Division for CPA Firms does require member firms to ensure that all professionals participate in continuing education programs.

Question 12

Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of a conviction is filed with the secretary of the institute.

Accepted Answer

A judgment of conviction is typically associated with a criminal offense, which would qualify as a felony or misdemeanor. In this case, suspension of AICPA membership is without a hearing, which would suggest the offense is serious enough to warrant immediate action. Therefore, the best choice is D (felony), as it would be the most serious offense to justify suspension without a hearing.

Question 13

The required publicly traded companies to set up confidential internal systems by April 2003 so that employees and others could have a method of reporting possible illegal or unethical auditing and accounting practices.

Accepted Answer

The requirement to set up confidential internal systems for reporting possible illegal or unethical auditing and accounting practices is a provision of the Sarbanes-Oxley Act. The Whistleblower Protection Act protects federal government employees from retaliation for reporting allegations of violation of laws, rules or regulations. The Glass-Steagall Act, also known as the Banking Act of 1933, separated commercial and investment banking activities. The Homeland Security Act established the Department of Homeland Security.

Question 14

Which of the following is not a recognized school of social responsibility?

Accepted Answer

The answer of Which of the following is not a...

Question 15

Which of the following is a characteristic of people who are referred to as professionals?

Accepted Answer

Having a set of written ethical standards that is consistently enforced by the group is a characteristic of professionals. Option A is incorrect as professionals are not immune to tort liability; they are held accountable for their actions. Option B is incorrect as being a professional does not entitle individuals to a higher minimum wage than the average. Option C is incorrect as being part of an online communication group does not qualify as a formal association for professionals.

Question 16

Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute related to all but which of the following?

Accepted Answer

Membership in the AICPA is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute related to all options except for negligent failure to file an income tax return, which the CPA as an individual is required to file. Therefore, the correct answer is D.

Question 17

Failure to provide a taxpayer with a copy of his or her return may subject a tax preparer to criminal penalties.

Accepted Answer

According to the Internal Revenue Code, a tax preparer who fails to provide a copy of the return to the taxpayer may be subject to a criminal penalty of up to $1,000 or imprisonment for up to one year, or both.

Question 18

Which of the following is not a recognized school of social responsibility?

Accepted Answer

Critical thinking is not a recognized school of social responsibility.

Question 19

What are the differences between the "act utilitarianism" and "rule utilitarianism" theories of ethical thought?

Accepted Answer

The answer of What are the differences between the "act...

Question 20

Which of the following codes of ethics generally provide a "hybrid model" including "dos and don'ts" that address subjects such as honest and fair dealings with customers and non- deceptive advertising?

Accepted Answer

The answer of Which of the following codes of ethics...

Quiz 7: Ethics, Social Responsibility, and the Business Manager

The production and marketing emphases of organizations have evolved into what is called a(n) .

Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute as related to .

How are professionals defined? Describe the American Bar Association's Model Rules of Professional Responsibility.

In general, corporate codes of ethics apply to upper- and middle-level managers.

Which of the following is not a characteristic of professions or professionals?

Define the consequential theories, deontological theories, and humanist theories of ethical thought.

The Model Rules of Professional Responsibility were established by the .

Section 806 of the Sarbanes-Oxley Act .

How did the Sarbanes-Oxley Act result in "internal housecleaning" within firms?

Classical economists, who support the profit-oriented school of social responsibility, recognize that there will be unintended effects of profit-seeking activities, called , that affect society and cannot be incorporated into or passed on in the price of an output.

The AICPA Division for CPA Firms requires member firms to ensure that all professionals participate in continuing education programs.

Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of a conviction is filed with the secretary of the institute.

The required publicly traded companies to set up confidential internal systems by April 2003 so that employees and others could have a method of reporting possible illegal or unethical auditing and accounting practices.

Which of the following is not a recognized school of social responsibility?

Which of the following is a characteristic of people who are referred to as professionals?

Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute related to all but which of the following?

Failure to provide a taxpayer with a copy of his or her return may subject a tax preparer to criminal penalties.

Which of the following is not a recognized school of social responsibility?

What are the differences between the "act utilitarianism" and "rule utilitarianism" theories of ethical thought?

Which of the following codes of ethics generally provide a "hybrid model" including "dos and don'ts" that address subjects such as honest and fair dealings with customers and non- deceptive advertising?