Duties (Deontology) correct answers -"People should be treated as ends in themselves, not merely as means to an end." - Kant
-People possess moral dignity
-Categorical Imperative
-Does not allow for special relationships, moral emotions, sympathy or caring
-Seeks universal rules; EX: Ban on pro...
ACCT 650 Ethics || with 100% Verified Solutions.
Duties (Deontology) correct answers -"People should be treated as ends in themselves, not
merely as means to an end." - Kant
-People possess moral dignity
-Categorical Imperative
-Does not allow for special relationships, moral emotions, sympathy or caring
-Seeks universal rules; EX: Ban on promise breaking, cheating, refusing to pay bills, lying in
financial statements
Categorical Imperative correct answers "I ought never to act except in such a way that I can also
will that my maxim should become a universal law"
Ethical Egoists correct answers -Greatest good for me
-One ought to always promote one's own well-being above everyone else's
-Acting against your own interest is irrational
-Hobbes thought pursuit of self-interest required "visible hand" of authoritarian gov't: against
ethical egoism
-Individuals pursuing self-interest, when interacting with each other, are guided by "invisible
hand" to achieve public interest - Adam Smith
-Free market and gov't enforcement of "rules of the game"
Utilitarians correct answers -Greatest goods or the greatest number
-Government generally adopts this view
-Much more complex calculation; EX: Cost-benefit, optimal productivity through efficiency
-Rule (Judge by decision) and Act (Judge by results) Utilitarianism
Virtue correct answers -Linked to Plato and Aristotle
-Morality is designed to cultivate virtuous character
-You become " " by doing " "
-You can't hate being virtuous and be virtuous
Hunt-Vitell Model of Ethical Decision-Making correct answers -Balance between duties and
consequences of a decision
-Consistent with Rest's Four Component Framework
-1986 Journal of Macro-marketing
James Rest, University of Minnesota, 4 Component Framework correct answers 1. Recognition
or sensitivity
2. Judgment - What the morally right thing to do is
3. Intention
4. Behavior
, Professional Duties, according to AICPA correct answers -Serving public interest
-Performing responsibilities with integrity
-Objectivity, free of conflicts of interest
-Independence for audits and attestation services
-Due care - competence and diligence
-Deliver appropriate services in a quality firm
Characteristics of a Profession correct answers -Mastery of an intellectual skill through training
and education
-Adherence to common code of values and conduct
-Acceptance of duty to society as a whole
-Duties should get more attention; from business, consequences
Deontology correct answers -"Science of duty"
-Deon: duty
-Logos: word or study or science
-Agreeing which duties we have and resolving differences when duties conflict
Justice correct answers -To each person...
-An equal share
-According to individual need
-According to that person's rights
-According to individual effort
-According to societal contribution
-According to merit
Does this action treat everyone the same or favor one over another? Against favoritism and
discrimination
Where do duties come from? correct answers -Rules
-External: AICPA Code of Conduct, SEC; Internal: Family, friends, religion, personal
experiences
-Rights: Someone else's rights create a responsibility for someone else
Ethical Decision-Making Methodology correct answers 1. Identify stakeholders
2. Formulate potential solutions
3. Determine affects of each alternative
4. Identify trade-offs
5. Make the decision and explain why other alternatives are rejected
Focus on the Analysis correct answers Consider who is most important for the outcome of the
decision
Decision Criteria correct answers Projected outcome/consequences or principles/standards that
outweigh consequences
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