Which among the following is responsible for the fact that theoretical reason and science play an important role in any study of ethics?

Importance associated with considering available alternatives
Importance associated with determining facts
Importance associated with identifying ethical issues
Importance associated with considering impact of decisions on stakeholders

All of these functions can assume the roles of a gatekeeper except

engineers.
auditors.
accountants.
financial analysts.

Which among the following duties of board members underlines the fact that directors of a company need not actually be an expert or run the company?

Duty of good faith
Duty of care
Duty of loyalty
Duty of guidance

Which among the following elements of COSO comprises of policies and procedures that support the control environment?

Ongoing monitoring
Information and communications
Control activities
Risk assessment

According to Socrates, this leads to an unexamined life not worth living.

Non-ethical behavior
Passivity
Cultural superstition
Lack of standards

The _____ relies on the judgment of accounting professionals in carrying out their duties rather than stipulating specific rules.

American Accounting Association
AICPA Code of Professional Conduct
Securities and Exchange Commission
Institute of Internal Auditors

The ability of losing sight of the ethical aspects while involved in the financial aspect of decisions is called

moral imagination.
descriptive ignorance.
morality lapse.
normative myopia.

One helpful exercise for considering the effects of a decision on others is to

conduct a private debate.
speak to a trusted friend.
shift one's role.
practiceeveryday, what one preaches.

In the broadest sense, which among the following can help explain ethical disagreements?

Socio-economic differences
Economic background
Perceptual differences
Subcultural influences

Many analysts contend that the rampant corruption in financial institutions is evidence of a complete failure

of the objective of the company.
of the social ethical structure.
of the venture capitalist industry.
in the corporate governance structure.

1. Give a brief synopsis of a time you made a business decision that did not have a favorable outcome. 2. Select one of the stumbling blocks discussed and relate it to your scenario 3. What would you have done differently given the insight you have now on the decision.

Conflicts of interest can occur at any time. Select one of the two scenarios and elaborate on what you would do in that situation.
1. Your supplier in Latin America sends you two airline tickets as a token of appreciation for doing business with them. Your company does not allow employees to accept gifts over $50. It is customary in Latin America to give a gift for doing business. Your supplier would be insulted if you did not accept the gift, threatening the relationship.
2. You work for a computer parts and software distributor. Your co-worker and friend is starting up a second business installing and servicing personal computers. She asks you not to disclose any knowledge of her new business. She has been missing a great deal of work because of the startup time the new businesses requires, and the work she is missing falls on your lap. You do not want to hurt your friendship, but you do not feel it is fair the extra work falls on your lap.