CCOUNTING THEORY
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ACT300A
General
ETHICS QUIZZ
stion 1
All the following are examples of non-assurance services that threaten independence except
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stion
Select one:
O a. Services that assume a management responsibility.
b. Tax preparation for chief executives.
O c. Internal audit services.
O d. Tax planning that impacts the financial statements.
estion 2
Which of the following ethical principles do not incorporated in ethical behaviour?
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Afirm’s production function is represented by q(m,r) = 4m 3/4r1/3, where q denotes output, m raw materials, and r robots. the firm is currently using 6 units of raw materials and 12 robots. according to the mrts, in order to maintain its output level the firm would need to give up 2 robots if it adds 9 units of raw materials. (a) true (b) false

Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.

After testing its water, a city water department issues a report to the related citizens, noting what chemicals have been identified, their doses, and the estimated risks of exposure at these levels. this report represents a type of