Discuss the differences between integrity-based and compliance-based approaches to organizational ethics.
What will be an ideal response?
Many organizations reactively implement compliance-based ethics programs. These programs are typically designed by a corporate counsel with the goal of preventing, detecting, and punishing legal violations. But being ethical is much more than being legal, and an integrity-based approach addresses the issue of ethics in a more comprehensive manner. Integrity-based ethics programs combine a concern for law with an emphasis on managerial responsibility for ethical behaviour. It is broader, deeper, and more demanding than a legal compliance initiative. It is broader in that it seeks to enable responsible conduct. It is deeper in that it cuts to the ethos and operating systems of an organization and its members, their core guiding values, thoughts, and actions. It is more demanding because it requires an active effort to define the responsibilities that constitute an organization's ethical compass. Most importantly, organizational ethics is seen as the responsibility of management.
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Which of the following represents one of the purposes of the notes to financial statements?
a. To provide a place for management to justify questionable items in the statements b. To provide comparative ratios for the company's financial data c. To provide the CPA's opinion of the fairness of the financial statements d. To satisfy the need for full disclosure of all the facts relevant to a company's results and financial position
Which of the following is TRUE statement about volunteer motivation, from the survey taken by the Corporation for National and Community Service?
a. It fills time after retirement b. Meet people from all walks of life c. It could lead to a full time paid job d. Teenagers think volunteering is "cool" e. Some people volunteer because their religion requires it
The advertisements for ground coffee sold by Khokho's Inc. state, "The highest quality coffee doesn't have to be expensive." This is an example of how a product communicates its _____
a. marketing mix b. comparative differentiation c. competitive advantage d. researchable objective
A single taxpayer may
A) not exclude from current income any of the capital gain on the sale of a home. B) exclude up to $250,000 of the capital gain every time he or she sells a home as long as they have lived in the home for a period of two years. C) exclude up to $250,000 of the capital gain every time he or she sells a home only if they are at least 55 years of age. D) exclude all of the capital gain on the sale of a home; however, this exclusion may only be taken once in a lifetime.