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Ethics
Fraud
Corporate Accounting
Statistics
Miscellaneous
100
A term that refers to a code or moral system that provides criteria for evaluating right and wrong.
What is ethics?
100
A known misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment.
What is fraud?
100
Capitalizing period costs violates this.
What is GAAP?
100
The typical organization loses this percentage of its revenues to fraud each year.
What is 5%?
100
This stage of moral and ethical development states that an individual begins to follow personal principles for resolving ethical dilemmas and considers personal, group, and societal interests. (HINT: There are 3 Stages)
What is Stage 3 (Postconventional)?
200
A document that explains specifically how employees should respond to certain situations.
What is a Code of Ethics?
200
This act was passed by U.S. Congress in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations.
What is the Sarbanes-Oxley Act?
200
Reviewing their company's financial statements and confirming there are no misleading errors or omissions is their job.
Who is the CEO/CFO?
200
This type of fraud represents the biggest portion of white collar crime.
What is price lie? (44.90%)
200
Individuals can make the difference in ethical expectations and behavior because of this reason. (5 reasons; state only one)
What is putting own interest ahead of the organization, lying to employee, misrepresenting hours, safety violations, or internet abuse?
300
Social responsibility and the balance between what's right and what's profitable.
What is the standards of conduct and moral values?
300
The common set of accounting principles, standards and procedures that companies use to compile their financial statements.
What is GAAP (Generally Accepted Accounting Principles)?
300
This is a necessary part of financial statements because it helps correctly interpret the information presented.
What is adequate disclosure?
300
Unnecessary repairs account for this percentage of corporate fraud?
What is 35%?
300
These are the three pinnacle concepts of the Fraud Triangle.
What is pressure, opportunity, and rationalization?
400
Criminal prosecution and incarceration are examples caused by the decision to be this.
What is unethical?
400
The largest fraudulent financial reporting in US history.
What is the improper capitalization of operating expenditures?
400
Rights and equitable treatment of shareholders, integrity and ethical behavior, and disclosure and transparency are the principles of this.
What is Corporate Governance?
400
This amount of corporate fraud pending cases were accounted for 2011.
What is 726?
400
This company is infamous for its reputation of committing one of the biggest acts of accounting fraud in history. It is a well-known example of willful corporate fraud and corruption.
What is Enron?
500
This organization sets standards of ethical conduct for management accountants.
What is the Institute of Management Accountants (IMA)?
500
Most fraud-related enforcement actions are caused by the people who hold these positions in a company.
What is CEO/CFO?
500
This type of corporate governance environment usually constitutes to instances of fraud in a company.
What is weak?
500
CEO/CFOs are responsible for this percentage of fraud enforcement actions.
What is 89%?
500
DOUBLE JEOPARDY! Describe the difference between unethical and illegal and the relationship between the two.
Unethical is what one's culture, society and environment thinks to be wrong. Because of the huge diversity, an unethical act can be different depending on the individual. Illegal acts are recognized by the law. An illegal deed is always unethical while an unethical action may or may not be illegal.