Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN: 9781337485913
Author: BROOKS
Publisher: Cengage
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Explain the problems of adverse selection and moral hazard caused by asymmetricinformation. How can financial intermediaries alleviate those problems?
Having inaccurate financial statements that can harm society would correspond with the ethical perspective of distributive justice. Discuss
Which of the following arguments supports the view that regulation is not necessary, particularly to the extent that it currently exists?
Select one:
a. Markets for information are not efficient and therefore produce a sub-optimum amount of information, given the problem of 'free riders'.
b. Accounting information is like any other good, and people will be prepared to pay for it to the extent that it has a use.
c. Investors need protection from fraudulent organisations that may produce misleading information.
d. Information asymmetry exists because not everyone has the same power over resources to obtain the information they need.
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- Is there a way to prevent managers from focusing on accounting measures as performance measures?arrow_forwardWhat is the “expectations gap”? What is the professiondoing to try to close this gap?arrow_forwardIn the text, we point out that Rest’s model is not linear in nature. An individual who demonstrates adequacy in one component may not necessarily be adequate in another, and moral failure can occur when there is a deficiency in any one component. Give an example in accounting when ethical intent may not be sufficient to produce ethical behavior and explain why that is the case.arrow_forward
- How does an investment advisor deal with a situation where he is convinced the client’s investment decisions fall outside his investment objectives and risk tolerance? What are the ethical issues?arrow_forwardWhich is not an organization's response to risks? *a. An organization may accept the risk if it is prepared to absorb or mitigate the impact of the risk.b. An organization may take the risk but tries to lower the impact and possibility of occurrence of the risk.c. An organization may take the risk but not the returns that come with it.d. An organization may opt not to take the risk by avoiding the activity with associated risk.arrow_forwardProponents of the EMH think technical analysts A) should focus on relative strength. B) should focus on resistance levels. C) should focus on support levels. D) should focus on financial statements. E) are wasting their time. Provide an accurate answer with accurate justification.arrow_forward
- What risk creates a demand for independent and objective outsiders to provide assurance to decision makers?arrow_forwardProponents of the EMH think technical analysts A) should focus on relative strength. B) should focus on resistance levels. C) should focus on support levels. D) should focus on financial statements. E) are wasting their time. Please provide an accurate justification for the chosen answer.arrow_forwardHow can we reduce this risk in financial reporting process? "Are redundant and out-of-date information flows identified and terminated?"arrow_forward
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