4.1 Understand the role of ethics in business and accounting
1) A code of behaviour defines the standards of behaviour that all members of an organization are expected to follow.
2) Being unethical is the same thing as being unlawful.
3) Fraud is one of the fastest-growing crimes.
4) In dealing with ethics, saying "Do as I say, not as I do" works very well.
5) Ethics is defined as principles of right and wrong.
6) Which statement is FALSE about ethics?
A) Ethics are rules.
B) Ethics are guidelines for how we perceive right and wrong.
C) Ethics are a vital part of the accounting profession.
D) Things may be unethical but still be legal.
E) Ethics are only important in Canada.
7) Ethical behaviour is encouraged because:
A) our society expects ethical behaviour.
B) ethics and legality are the same things.
C) laws are the same as ethics.
D) it makes the company happy.
E) it makes the world a better place.
8) Whistleblowers must be allowed to report ethics violations:
A) by giving their name in their report, no matter what the consequences.
B) but only with the support of another witness.
C) by giving their name in their report, yet without fear of punishment or retaliation.
D) anonymously, without fear of punishment or retaliation.
E) and to face the accused.
9) A code of ethics should be:
A) verbal and communicated to all members of the organization.
B) written and provided to potential new employees.
C) enforced.
D) written, communicated, and enforced.
E) kept private.
10) Honesty, fairness, and integrity are all a part of:
A) ethical law.
B) ethical behavior.
C) accounting law.
D) GAAP.
E) IFRS principles.