Describe the three different definitions the understanding of business ethics discussed in the 2005 paper titled “A History of Ethics,” by ethicist Richard T. DeGeorge, a professor of philosophy at the University of Kansas:
What will be an ideal response?
The usage of the term “business ethics” since the 1970s in academia—in other words, the emergence of corporate ethics as an area of academic study and research. The association of business ethics with business scandals or, more broadly, the role of ethics within business; this prong, DeGeorge explains, is as old as business itself. “A movement within business or the movement to explicitly build ethics into the structures of corporations in the form of ethics codes, ethics officers, ethics committees and ethics training.”
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Which one of the following is not a management expectation for independent auditors?
a. An outside source of expertise on accounting matters. b. Individuals who perform tests and draw conclusions on assertions. c. A participant in management decision making. d. A provider of a written communication.
A basic tenet of variable costing is that fixed overhead costs should be currently expensed. What is the basic rationale behind this procedure?
a. Fixed overhead costs will occur whether or not production occurs and so it presents a clearer picture of how changes in production volume affect costs and income. b. Fixed overhead costs are generally immaterial in amount and the cost of assigning the amounts to specific products would outweigh the benefits. c. Allocation of fixed overhead costs is arbitrary at best and could lead to erroneous decisions by management. d. Fixed overhead costs are uncontrollable and should not be charged to a specific product.
The police power of government simply means the power to arrest, prosecute, and punish criminals
Indicate whether the statement is true or false
Stocks that provide investors with steady income in the form of large dividends are classified as ________
Fill in the blank(s) with the appropriate word(s).