MODB - Module B - Professional Ethics Module B Professional...

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Module B - Professional Ethics Module B Professional Ethics Multiple Choice Questions 1. Which of the following is NOT a key element of the definition of ethics? A. Reflective choice B. Moral principles C. Definitive conclusions D. Consequences of decisions Difficulty: Easy Source: Original 2. Which of the following defines the imperative principle of ethics? A. Ethic decisions cannot be resolved without evaluating all possible outcomes of all choices B. Ethics are a function of moral rules and principles C. All ethical decisions will have both positive and negative consequences D. It is essential that decisions be made for the greater good of society Difficulty: Medium Source: Original 3. Which of the following philosophical principles in ethics places emphasis on the consequences of action, rather than on following the rules? A. Imperative principle B. Utilitarianism principle C. Generalization principle D. Moral principle Difficulty: Easy Source: Original MODB-1
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Module B - Professional Ethics 4. What agency has the ultimate authority in defining independence for publicly traded companies? A. AICPA B. SEC C. Department of Justice D. Congress Difficulty: Easy Source: Original 5. Which of the following is the responsibility of the Professional Ethics Executive Committee? A. Enforce SEC ethical standards B. Act as an investigative body of the AICPA when ethical violations are suspected C. Make and enforce all the rules of conduct for CPAs who are AICPA members D. Establish minimal ethical standards for financial reporting Difficulty: Easy Source: Original 6. Which of the following is NOT one of the AICPA Principles of Professional Conduct? A. Responsibilities B. Reliability C. Objectivity D. Due Care Difficulty: Medium Source: Original MODB-2
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Module B - Professional Ethics 7. Dara & Co. audit Hill Corporation. Ellie is the engagement partner on the audit with an office in Buffalo Grove. Which of the following would NOT be considered a covered member? A. Jason, who is a member of the attest engagement team with an office in Elmhurst B. Adam, who is a tax partner and provided 50 hours of tax service to Hill Company during the year of the audit with an office in Elmhurst C. D. Difficulty: Medium Source: Original 8. Which of the following is NOT included in Rule of Conduct 102, Integrity and Objectivity? A. Prudent assessment of facts B. Free of conflict of interests C. Not knowingly misrepresent facts D. Not subordinate judgment to others Difficulty: Medium Source: Original 9. Based on Sarbanes-Oxley, who is responsible for auditor independence? A.
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This note was uploaded on 05/26/2011 for the course ACCT 403 taught by Professor Mark during the Spring '10 term at Strayer.

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MODB - Module B - Professional Ethics Module B Professional...

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