Question 1

Section 404 of the Sarbanes-Oxley Act requires

Accepted Answer

A)   The establishment of procedures to accept employee complaints
B)   The principle executive to certify that they have reviewed the financial statements
C)   A report of the company's internal control over financial reporting
D)   Code of ethics requirements for senior officersE) None of the above
F) All of the above

Question 2

Which of the following is not a fraud method to overstate revenues?

Accepted Answer

A)   Recording future sales in the current period
B)   Recording sales of products that are out on consignment
C)   Recording sales based on F.O.B. shipping point
D)   Recording revenues of other companies by acting as a middlemanE) A) and C)
F) All of the above

Question 3

The stakeholder view emphasizes the obligations of management to:

Accepted Answer

A)   The shareholders
B)   The shareholders and creditors
C)   All parties impacted by corporate decisions in a significant way
D)   The board of directorsE) All of the above
F) None of the above

Question 4

What non GAAP accounting method did Tony Menendez cite in blowing the whistle on Halliburton?

Accepted Answer

A)   Recording sales that lack economic substance
B)   Failing to write off impaired assets
C)   Bill and hold revenue recognition
D)   Releasing cookie jar reserves to smooth incomeE) A) and B)
F) All of the above

Question 5

The reporting requirements for fraud are detailed in Section 10A of the Securities Exchange Act of 1934. Which of the following steps are NOT part of a prescribed process that should be followed in deciding whether to report fraud?

Accepted Answer

A)   Determine who is responsible for the fraud.
B)   Determine whether the violations have a material effect, quantitatively or qualitatively, on the financial statements.
C)   Determine whether appropriate remedial action has been taken.
D)   Determine whether reporting to the SEC is necessary.E) B) and D)
F) B) and C)

Question 6

The role of a leader in an organization is to:

Accepted Answer

A)   Establish principles and standards of behavior that guide business decisions
B)   Enforce violations of code rules of conduct
C)   Determine organizational climate and define norms
D)   Develop the principles and strategic initiatives to guide ethical actionE) A) and C)
F) All of the above

Question 7

An example of revenue overstatement is:

Accepted Answer

A)   Manipulating reserves
B)   Recording gross, rather than net, revenue
C)   Reporting cost of sales as a non-operating expense
D)   Deferring revenueE) A) and D)
F) A) and C)

Question 8

A troubling result of the 2013 National Business Ethics Survey is:

Accepted Answer

A)   Decreased witnessing of misconduct in the workplace
B)   Decline in pressure to compromise ethics
C)   No change in the likelihood to report misconduct
D)   a high percentage of misconduct is conducted by managementE) All of the above
F) C) and D)

Exam 3: Organizational Ethics and Corporate Governance

The role of a leader in an organization is to:

Correct Answer
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The reporting requirements for fraud are detailed in Section 10A of the Securities Exchange Act of 1934. Which of the following steps are NOT part of a prescribed process that should be followed in deciding whether to report fraud?

Correct Answer
verified

A troubling result of the 2013 National Business Ethics Survey is:

Correct Answer
verified

What non GAAP accounting method did Tony Menendez cite in blowing the whistle on Halliburton?

Correct Answer
verified

An example of revenue overstatement is:

Correct Answer
verified

Section 404 of the Sarbanes-Oxley Act requires

Correct Answer
verified

The stakeholder view emphasizes the obligations of management to:

Correct Answer
verified

Which of the following is not a fraud method to overstate revenues?

Correct Answer
verified

Exam 3: Organizational Ethics and Corporate Governance

The role of a leader in an organization is to:

Correct AnswerverifiedShow Answer

The reporting requirements for fraud are detailed in Section 10A of the Securities Exchange Act of 1934. Which of the following steps are NOT part of a prescribed process that should be followed in deciding whether to report fraud?

Correct AnswerverifiedShow Answer

A troubling result of the 2013 National Business Ethics Survey is:

Correct AnswerverifiedShow Answer

What non GAAP accounting method did Tony Menendez cite in blowing the whistle on Halliburton?

Correct AnswerverifiedShow Answer

An example of revenue overstatement is:

Correct AnswerverifiedShow Answer

Section 404 of the Sarbanes-Oxley Act requires

Correct AnswerverifiedShow Answer

The stakeholder view emphasizes the obligations of management to:

Correct AnswerverifiedShow Answer

Which of the following is not a fraud method to overstate revenues?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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