Ethics and Professionalism in Accounting
AC 216 – Ethics and Professionalism in Accounting
Exam #1
Name SOLUTIONS
Part I. Multiple Choice (2 pts each, 40 pts total)
Instructions: Select the one best answer to each question.
1. The insufficient anchor adjustment cognitive bias refers to: a. placing too much significance on the average value. b. placing significance on an erroneous prior value. c. overconfidence in one’s decision based on insufficient information. d. placing too much significance on a value which is the hardest to recall.
2. Which of the following characteristics typifies a complicated environment? a. good practice. b. process reengineering. c. exclusive use of experts. d. best practice.
“c” arguably makes sense but the word “exclusive” makes it less than the best answer.
3. Which of the following statements is correct: a. Problems can be universally agreed upon, while issues are subject to greater depth of debate. b. Problems and issues are both always universally agreed upon. c. Issues can be universally agreed upon, while problems are subject to greater depth of debate. d. Problems are exactly the same as issues.
4. Deciding whether to use strawberry or grape jam on one’s sandwich is: a. not a moral issue because no real decision needs to be made. b. a moral issue because a choice between alternatives is required. c. not a moral issue because no component of harm exists. d. a moral issue because consequences are important.
5. Ksenia believes that success is under her own control. She most likely has a/an: a. high internal locus of control b. high external locus of control c. high locus of control d. a lack of locus of control
6. Kohlberg’s theories on ethical awareness state that: a. differing levels of ethical awareness exist. b. locus of control determines one’s level
Exam #1
Name SOLUTIONS
Part I. Multiple Choice (2 pts each, 40 pts total)
Instructions: Select the one best answer to each question.
1. The insufficient anchor adjustment cognitive bias refers to: a. placing too much significance on the average value. b. placing significance on an erroneous prior value. c. overconfidence in one’s decision based on insufficient information. d. placing too much significance on a value which is the hardest to recall.
2. Which of the following characteristics typifies a complicated environment? a. good practice. b. process reengineering. c. exclusive use of experts. d. best practice.
“c” arguably makes sense but the word “exclusive” makes it less than the best answer.
3. Which of the following statements is correct: a. Problems can be universally agreed upon, while issues are subject to greater depth of debate. b. Problems and issues are both always universally agreed upon. c. Issues can be universally agreed upon, while problems are subject to greater depth of debate. d. Problems are exactly the same as issues.
4. Deciding whether to use strawberry or grape jam on one’s sandwich is: a. not a moral issue because no real decision needs to be made. b. a moral issue because a choice between alternatives is required. c. not a moral issue because no component of harm exists. d. a moral issue because consequences are important.
5. Ksenia believes that success is under her own control. She most likely has a/an: a. high internal locus of control b. high external locus of control c. high locus of control d. a lack of locus of control
6. Kohlberg’s theories on ethical awareness state that: a. differing levels of ethical awareness exist. b. locus of control determines one’s level