Accounting and Accountability Question Bank
Course Introduction
Accounting and Accountability explores the fundamental principles and practices of accounting within the context of ethical responsibility and societal impact. The course examines the ways in which accounting systems measure, record, and report financial information, while also analyzing how these processes support transparency, trust, and accountability among stakeholders. Students will evaluate the role of accounting in organizational governance, decision-making, and performance assessment, and will discuss contemporary issues such as sustainability reporting, regulatory compliance, and the influence of global accounting standards. The course emphasizes the importance of professional ethics, social responsibility, and the broader implications of accounting beyond mere financial outcomes.
Recommended Textbook
Issues in Financial Accounting 15th Australia Edition by Scott Henderson
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29 Chapters
707 Verified Questions
707 Flashcards
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Page 2
Chapter 1: Institutional Arrangements for Setting Accounting Standards in Australia
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27 Verified Questions
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Sample Questions
Q1) Additional disclosure requirements by the ASX for stock exchange listed companies are all of the following,except:
A) reporting of performance indicators such as return on shareholders' equity
B) a statement of ethical guidelines for employees and management
C) a requirement for the top 300 companies to have an audit committee
D) none of the above, i.e., all are additional requirements for ASX listed companies
Answer: B
Q2) The Corporations Act 2001 requires that the financial reports must give:
A) a true and fair view of the financial position and performance and of the accounting standards
B) a true and fair view of the reporting position
C) a true and fair view of the accounting standards
D) a true and fair view of the financial position and performance
Answer: D
Q3) Explain how accounting standards are currently enforced in Australia.
Answer: Not Answer
Q4) Discuss the role of the accounting bodies in the regulation of Australian accounting practice.
Answer: Not Answer
Page 3
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Chapter 2: A Conceptual Framework: Scope, reporting
Entity and the Objective of Financial Report
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Sample Questions
Q1) Under SAC2,parties performing a review or oversight functions for general-purpose financial reports would include all of the following,except:
A) ACCC
B) Lenders
C) Stock Exchange
D) ASIC
Answer: B
Q2) Which of these is a constraint on financial reporting rather than a qualitative characteristic?
A) Relevance
B) Comparability
C) Timeliness
D) Reliability
Answer: C
Q3) The approach taken in the Australian conceptual framework is:
A) hypothetical
B) notional
C) descriptive
D) prescriptive
Answer: D
Page 4
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Chapter 3: A Conceptual Framework: the Fundamentals of
General Purpose Financial Reporting
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32 Verified Questions
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Sample Questions
Q1) In Australia under the conceptual framework,which of the following is not an identifiable element of financial statements?
A) Liabilities
B) Assets
C) Profit
D) None of the above, i.e., all are identifiable elements
Answer: C
Q2) The Framework definition of revenue (income)differs in which important aspect from the FASB definition?
A) In some circumstances it includes contributions by owners as revenue
B) It includes a reduction in liabilities as one of the forms that revenue can take
C) It defines revenue as an inflow
D) It does not identify the sources of the revenue
Answer: D
Q3) Explain and discuss three essential characteristics of an asset as defined by the Framework.
Answer: Not Answer
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Page 5
Chapter 4: A Conceptual Framework: Recognition and
Measurement of the Elements of Financial Statements
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Sample Questions
Q1) The correct statement is:
A) If the 0.5 probability recognition criteria from the Framework were applied to revenue, it is likely that revenue would generally be recognised earlier in the operating cycle than at present
B) If the 0.5 probability recognition criteria from the Framework were applied to expenses, it is likely that expenses would generally be recognised earlier in the operating cycle than at present
C) If the 0.5 probability recognition criteria from the Framework were applied to revenue, it is likely that revenue would generally be recognised later in the operating cycle than at present
D) None of the statements is correct
Q2) Future economic benefits for assets come from:
A) value-in-utility
B) value-in-exchange
C) value-in-use
D) both B and C
Q3) Explain and discuss the assertion that current replacement cost provides a more relevant but less reliable measure of assets than historical cost.
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Chapter 5: The Choice of Accounting Methods
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Sample Questions
Q1) 'Most creative accounting techniques do not lead to permanent increases in profits and assets and therefore achieve little.' Using at least three specific examples,explain what is meant by this statement and discuss whether or not you agree with it.
Q2) Which of these is not one of the ways AASB 108 'Accounting Policies' deals with the choice of accounting methods?
A) By establishing a hierarchy of authorities
B) By specifying particular policies to be used in certain situations
C) By specifying the qualitative characteristics that financial information should have
D) None of the above, i.e., all are ways in which AASB 108 deals with the choice of accounting methods
Q3) Which party was not involved in initiating the move towards the harmonisation of Australian and International accounting standards?
A) The Australian Stock Exchange
B) 'Big business' represented by the Group of 100
C) The government
D) None of the above, i.e., all were engaged in initiating the move
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Chapter 6: The Balance Sheet: an Overview
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Q1) Entities are required to disclose comparative information the previous period.Discuss how the correction of prior period errors may impact on the presentation of the financial statements.
Q2) The accounting standard relating to the statement of financial position is:
A) AASB 103
B) AASB 101
C) AASB 140
D) AASB 111
Q3) Australian standard setters have adopted the view that:
A) there should be some flexibility in the format of financial statements
B) companies should use a fixed format when preparing financial statements
C) Schedule 5 provides an example of a flexible format for preparers of financial statements
D) the statement of financial position is merely a link between successive income statements
Q4) Identify and discuss the requirements concerning the classification of liabilities contained in AASB 101.
Q5) Identify and discuss the requirements concerning the classification of assets contained in AASB 101.
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Chapter 7: Accounting for Current Assets
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Sample Questions
Q1) The inventory valuation rule is to value inventory at the lower of cost and net realisable value on an item-by-item basis. Explain the meaning of: i.cost
ii.net realisable value
iii.the overall operation of the rule.
Q2) Under AASB 102,'the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale' is known as:
A) the lower of cost or market
B) cost value
C) net realisable value
D) market value
Q3) Where an allowance for doubtful debts account is maintained,the accounting entry to write off a bad debt is:
A) debit bad debts; credit accounts receivable
B) debit allowance for doubtful debts; credit accounts receivable
C) debit doubtful debts expense; credit accounts receivable
D) none of the above
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Page 9
Chapter 8: Accounting for Property, plant and Equipment
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Sample Questions
Q1) Under AAS 29,Paragraph 15.1 'Financial Reporting by Government Departments' the entry that is required by a government department to record the fair value of a donated asset is:
A) debit asset, credit loan
B) debit asset, credit revaluation surplus
C) would not need to be recorded
D) debit asset, credit revenue
Q2) Under the provisions of AASB 116,concerning an asset that has been re-valued upward,which statement is correct?
A) If the asset is disposed of, the revaluation surplus can remain in the accounts after the disposal of the asset that created it
B) The amount of the revaluation increment is included in equity without being included in net profit
C) Neither of the statements is correct
D) Both of the statements are correct
Q3) Explain and discuss how donated assets should be recorded in the accounts.
Q4) Should borrowing costs incurred during the construction period of an asset be expensed or capitalised? Discuss.
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Page 10
Chapter 9: Accounting for Company Income Tax
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Q1) Consider each of the following separate situations.State whether each gives rise to a deferred tax asset (DTA)or a deferred tax liability (DTL).Give reasons for your answer and also indicate why and when any DTA or DTL will be reversed in the accounting records. (i)Depreciation for accounting purposes exceeds depreciation allowed for income tax purposes
(ii)A provision for doubtful debts has been made for the first time (iii)Goodwill is being amortised each year
(iv)A loss has been incurred,for both accounting and taxation purposes,but the company expects to earn profits in each of the next two years
Q2) Accounting standards require disclosure of the amount of:
A) deferred tax expense (or revenue) relating to changes in tax rates or tax laws
B) current tax expense (or revenue)
C) any adjustments for the current tax of prior reporting periods
D) all of the above
Q3) Discuss the results of empirical research that examines whether tax-effect accounting should continue to be required.
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11
Chapter 10: Accounting for Investments
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Sample Questions
Q1) It is generally accepted,for shares held by one company in another as a non-current asset,that a 'small holding' is less than what percentage of the investee's issued shares?
A) 20%
B) 5%
C) 15%
D) 10%
Q2) Which of the following is not part of the AASB 140 proposals to account for investment properties?
A) After initial recognition, investment properties can be measured by either the cost model or the fair value model
B) If the fair value model is chosen, changes to fair value must be recognised as gains or losses when they occur
C) If the cost model is chosen then, all of a company's investment properties must be measured in accordance with AASB 116
D) Different investment properties can be valued using different cost models
Q3) Accounting for shares held by one company in another varies according to the proportion the shares held by the investor are of the investee's share capital.Explain.
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Chapter 11: Accounting for Intangible Assets
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Sample Questions
Q1) After 1 January 2005,the position that applies in Australia to the amortisation of goodwill is:
A) goodwill must be amortised systematically over the period during which the future economic benefits are expected to be consumed
B) goodwill is not required to be systematically amortised and is not subject to an impairment test
C) goodwill is not required to be systematically amortised but is subject to an impairment test
D) goodwill is to be amortised over a period not exceeding 20 years
Q2) Purchased computer software should be:
A) recognised as an asset and recorded at cost
B) amortised over its useful life
C) subject to an impairment test
D) all of the above
Q3) AASB 138 prohibits recognising as intangible assets all internally generated:
A) costs of patents
B) brand names costs
C) trademark costs
D) all of the above
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Page 13
Chapter 12: Accounting for Leases
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Sample Questions
Q1) Consider the following statements concerning an instalment sale of goods: (a)Ownership of the goods passes to the buyer when the agreement is signed (b)It has the same legal effect as a sale by hire-purchase (c)The seller's rights are limited to those of a creditor (d)It is recorded as a sale when the final instalment is paid
A) Only (a) and (c) are correct
B) Only (b) and (d) are correct
C) None is correct
D) All are correct
Q2) A 'sale-and-leaseback' transaction:
A) can be classified as neither a finance lease nor an operating lease
B) is always classified as a finance lease
C) can be classified as either a finance lease or an operating lease
D) is always classified as an operating lease
Q3) Leases described as 'off balance sheet' are:
A) operating leases
B) finance leases
C) in effect a secured loan
D) A and C above
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Page 14
Chapter 13: Accounting for Employee Benefits
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Sample Questions
Q1) Under AASB 119,the recognition criteria for liabilities for profit sharing and bonus plans is:
A) It is probable the liability will be settled and the amount of the liability can be measured consistently
B) It is reasonably certain the liability will be settled
C) It is probable the liability will be settled
D) The entity has a present legal or constructive obligation to settle the liability, and the amount of the liability is capable of being measured reliably
Q2) A liability or an expense for termination benefits can only arise when the entity is demonstrably committed to provide the benefits.Which of the following is listed in AASB 119 as part of the requirements of a detailed formal plan for termination that determines the meaning of 'demonstrably committed'?
A) Identification of when the termination will occur
B) Identification of termination benefits for each job classification or function
C) Identification of the location, function and approximate number of employees whose services will be terminated
D) All of the above
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Chapter 14: Accounting for Financial Instruments
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Sample Questions
Q1) What is meant by an 'interest rate swap'? Illustrate your answer with a simple example of how such a swap operates and how it would affect the parties concerned.Why might businesses engage in an interest rate swap?
Q2) A trader purchases 4 futures contracts with a total value of $100 when the price of the contracts (based on the SPI 200 share price index)is 3026.When these contracts expire,the index itself is at 2950 points and the price of the SPI 200 contract units is 2975.The trader has:
A) made a gain of $5100
B) made a loss of $5100
C) made a loss of $2550
D) made a gain of $2550
Q3) A futures exchange clearing house is mainly concerned with:
A) calling in margins from traders as and when required
B) establishing and collecting deposits from brokers trading on the exchange C) calculating the gains and losses made by futures traders
D) all of the above
Q4) Identify and explain the methods required under AASB 139 to account for a futures contract both at its inception and for subsequent changes in its fair value.
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Page 16
Chapter 15: Equity
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Sample Questions
Q1) Explain the nature of compound financial instruments and how to account for them in Australia.
Q2) Which approach to accounting for convertible notes is required in AASB 132 'Presentation and Disclosure of Financial Instruments'?
A) Recognise according to the application of the framework criteria for the definition and recognition of liabilities and equity
B) Separate into their equity and debt components
C) Recognise as a liability in accordance with their legal form
D) None of the above
Q3) Discuss the arguments against recognising share options as an expense in the period in which the employee provides services.
Q4) Management decided to buy-back 1 million shares that had been issued for $1 per share,for $1 per share.At the time of the buy-back total share capital was 20 million shares.The likely accounting entry to record the buy-back is:
A) debit share capital $1 000 000; credit cash at bank $1 000 000
B) debit share capital $500 000; credit cash at bank $500 000
C) debit share capital $20 000 000; credit cash at bank $20 000 000
D) debit retained earnings $500 000; credit cash at bank $500 000
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Page 17
Chapter 16: The Income Statement
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Sample Questions
Q1) The correct statement is:
A) Current Australian accounting standards do not identify any particular categories of 'unusual' items for special disclosure in the income statement
B) Current Australian accounting standards require activities that are attributable to transactions or other events outside the ordinary activities of the entity to be disclosed separately
C) AASB 101 requires the separate disclosure of significant items
D) None of the above is correct
Q2) If an entity receives a gift of an original painting from a customer with a fair value of $20 000,in return for services rendered,it would be recorded as:
A) debit to bank and credit to equity
B) debit to the asset painting and credit to revenue
C) debit to the asset painting and credit to equity
D) none of the above
Q3) Explain and discuss the advantages and disadvantages of the operating-profit and the comprehensive income approaches to profit measurement.Which approach do you think is the most useful for decision making?
Q4) Define income and explain how it differs from revenue.
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Page 18
Chapter 17: The Cash Flow Statement
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Q1) All of these are classified as operating items under AASB 107 'Cash Flow Statements',except:
A) cash received from sales
B) cash received from the sale of surplus machinery
C) cash dividends received
D) cash payment of expenses
Q2) Discuss how an entity that reports an after tax profit may be unable to generate positive cash flows from operating activities.
Q3) Under AASB 107,it is not true that:
A) operating activities generally relate to transactions that are included in the income statement
B) cash flows are classified into operating, investing and financing groupings
C) each item in the externally presented income report that results in a cash flow is required to be disclosed separately in the cash flow statement
D) none of the above is untrue
Q4) Discuss the arguments for and against the presentation of the cash flow statement using the indirect approach rather than the direct approach.
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19
Chapter 18: Financial Reporting: Segment Reporting, value
Added Statements, highlights Statements and
Financial Information
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Sample Questions
Q1) Reporting by segments of a business is believed to have a number of disadvantages.Which of the following is not likely to be such a disadvantage?
A) Segment information may not be sufficiently reliable
B) The costs to a business of providing segment information may exceed the benefits to investors
C) Providing segment information may assist a business's competitors
D) Investors invest in a whole company and not in its individual segments
Q2) Which of the following items need not be shown when reporting primary segment information for a business?
A) Segment results
B) Segment revenues
C) Segment receivables
D) Segment liabilities
Q3) Many companies,especially larger companies,now include a highlights statement in their annual reports.What are the main items likely to be included in such a statement? What are the perceived benefits of giving this information? Also explain any possible disadvantages of publishing a highlights statement.
Q4) Discuss the benefits of the 'management approach' adopted by AASB 8.
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Chapter 19: Further Financial Reporting Issues
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Sample Questions
Q1) A business shows the following figures for the current financial year (all amounts in $millions):
\[\begin{array} { l r }
\text { Total sales } & \$ 38.0 \\
\text { Operating profit } & \$ 12.0 \\
\text { (a) Bad debts expense } & \$ 1.0 \\
\text { (b) Interest expense } & \$ 2.0 \\
\text { (c) Auditor's remuneration } & \$ 0.5 \\
\text { (d) Repairs and maintenance expense } & \$ 2.5 \end{array}\] The items that are most likely to be considered as material are:
A) (b) and (d)
B) (a), (b) and (d)
C) (b), (c) and (d)
D) (a) and (b)
Q2) Discuss the concept of the reporting entity and the rationale for the revisions to the International Financial Reporting Standards for small and medium sized entities.
Q3) Why have accountants always put so much emphasis on the concept of materiality? How does this concept affect accountants,if at all,in their day-to-day work and in the preparation of periodical financial reports?
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Page 21
Chapter 20: Accounting for the Extractive Industries
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Q1) Australian Accounting Standard AASB 6 Exploration for and Evaluation of Mineral Resources defines 'economically recoverable reserves' of minerals,oil or gas as those which can be expected to be profitably:
A) extracted and sold under current and foreseeable economic conditions
B) extracted, processed and sold under current and foreseeable economic conditions
C) extracted, processed and sold under foreseeable economic conditions
D) processed and sold under current economic conditions
Q2) Which of the following methods of accounting for exploration and evaluation costs in the extractive industries is most consistent with the provisions of Statement of Accounting Concepts and the Framework?
A) The expense-and-reinstate method
B) The successful-efforts method
C) The expense (costs written-off) method
D) The full-cost method
Q3) AASB 6 is an activity based standard; as such it does not fully cover other areas of extractive industries.Make a list and briefly explain the other relevant standards that a mining company has to consider in producing its financial statements under the new regime.
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22
Chapter 21: Accounting for Real Estate Development and Construction Contracts
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Q1) The completed-contract method for recognising profit on a construction contract is a conservative method of profit recognition because:
A) it results in construction costs being written-off as they are incurred
B) it does not anticipate profit
C) it recognises progress billings as revenue when the cash is received
D) all of the above
Q2) Explain the accounting procedure that should apply when a construction contract is expected to be completed at a loss.Use a simple numerical example to illustrate this procedure.How is this procedure affected if the completed-contract method is used for accounting for construction contracts rather than the percentage-of-completion method?
Q3) AASB 111 'Construction Contracts' requires the use of the percentage of completion method when:
A) the outcome of the construction contract is relevant
B) the outcome of the construction contract can be easily recognised under the fair value method
C) the outcome of the construction contract can be estimated reliably
D) none of the above
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Chapter 22: Accounting for Agricultural Activity
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Q1) At the beginning of the 20X1 financial year,Vaughn Downs Ltd owned a forest with an estimated net realisable value of $8 000 000.During the year,Vaughn Downs spent $300 000 on general administration costs and $400 000 on maintaining and improving the forest.Also during the year the company felled some timber from the forest that had an estimated net realisable value of $3 000 000.Costs of felling and treating the timber amounted to $800 000.The timber was sold later in the year for $3 100 000.At the end of the year,the forest had an estimated net realisable value of $8 700 000.The financial statements for the year should report:
A) a profit from operations of $1 700 000 and an increase in the revaluation surplus of $700 000
B) a profit from operations of $1 700 000
C) a profit from operations of $2 100 000 and an increase in the revaluation surplus of $300 000
D) a profit from operations of $2 300 000
Q2) Agricultural activity should:
A) sometimes be classified as non-current assets
B) always be classified as current assets
C) always be classified as non-current assets
D) always be classified as inventories
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Page 24
Chapter 23: Accounting for Superannuation Plans
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Q1) Discuss this statement,'Property,Plant and Equipment held by the fund for its intended use in the operation of the fund and not for sale or investments should not be measured at net market value'.
Q2) The general purpose financial reports of a superannuation plan should provide information to assist in answering the following question:
A) Who are the trustees?
B) Is the plan solvent?
C) What are the names of the professional advisers?
D) None of the above
Q3) The inclusion of a report of the trustees of a superannuation plan is:
A) required by AAS 25
B) the same as an actuarial report
C) recommended by the ASFA
D) not relevant for a self-managed plan
Q4) Explain the essential features of a defined benefit,externally managed,non-contributory superannuation plan whose benefits are not vested.
Q5) Discuss the roles of APRA,Asic and the ATO in the regulation of the superannuation industry.
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Chapter 24: Accounting for Financial Institutions
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Q1) Where a bank has approved a loan but the borrower has not yet drawn it down,the usual practice in the financial statements of the bank is to:
A) include the undrawn amount as a liability in the Balance Sheet
B) include the undrawn amount as a contingent liability in the financial statements
C) make no specific disclosure of the details of this type of item
D) disclose the amount expected to be drawn down in the following twelve months
Q2) Under AASB 1023,the revenue from the premium for a general insurance policy should be recorded as earned:
A) when the policy is signed by both parties
B) from the attachment date, allocated to the reporting periods to which the premium relates
C) on the attachment date, when the insurer accepts the risk
D) when the premium is paid in full by the insured
Q3) Discuss the required treatment of Goodwill under AASB 3 'Business Combinations'.Previously,banks departed from this treatment in their accounting practices.Explain their justification and provide reasons why this justification is inadequate.
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Chapter 25: Financial Reporting in the Public Sector
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Q1) All of these are essential features of most of the definitions of infrastructure assets,except:
A) they are usually very profitable
B) they are necessary to sustain living standards
C) they are generally immovable
D) none of the above, i.e., all are essential features of infrastructure assets
Q2) All of these are current differences between Government Finance Statistics (GFS)and Generally Accepted Accounting Principles (GAAP)reporting,except:
A) GPS has two performance statements whereas GAAP has only one statement of financial performance
B) GPS requires all borrowing costs to be recognised as expenses whereas GAAP, in some circumstances, allows them to be capitalised
C) GFS only recognises bad debts when they are written off and does not recognise expenses arising from establishing a provision for doubtful debts, whereas GAAP recognises expenses arising from establishing a provision for doubtful debts
D) Accrual accounting only applies to GAAP not to GFS
Q3) Compare government financial statistics with the general purpose GAAP reporting models.
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Chapter 26: International Accounting Standards, harmonisation and Convergence
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Sample Questions
Q1) Australia adopted international accounting standards:
A) on 30 June 2005
B) on 31 December 2005
C) on 1 January 2005
D) on 31 March 2005
Q2) Explain why the Australian Stock Exchange supports the adoption in Australia of a set of accounting standards developed by a body such as the International Accounting Standards Board.Discuss whether or not stock exchanges in other countries would also be likely to support the adoption of International Accounting Standards Board standards in their countries.
Q3) The International Accounting Standards Board is:
A) an independent private sector body located in the United Kingdom
B) a joint body set up by the International Accounting Standards Committee and the International Organisation of Securities Commissions
C) a joint body established by the International Accounting Standards Committee and the United States Securities and Exchange Commission
D) based in London and is an agency of the United Kingdom government
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Page 28
Chapter 27: Foreign Currency Translation
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24 Verified Questions
24 Flashcards
Source URL: https://quizplus.com/quiz/71414
Sample Questions
Q1) A fair value hedge that meets the requirements under AASB 139 for hedge accounting is accounted for in which of the following ways?
A) Any gain or loss on the hedged item attributable to the hedge risk is recognised in the profit and loss
B) Any gain or loss from re-measuring the hedging instrument at fair value or its foreign currency amount is recognised as equity
C) When a firm commitment to acquire an asset is entered into and it is a hedged item, the initial carrying amount of the asset should never include the cumulative change in fair value of the commitment previously recognised in the balance sheet
D) None of the above describes the correct accounting for a fair value hedge
Q2) AASB 121 requires that non-monetary items are measured,subsequent to their initial recognition,at:
A) the exchange rate at the date of transaction
B) the exchange rate at the date of that the fair value was determined
C) an average exchange rate at the end of the reporting period
D) both A and B can apply
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Chapter 28: Accounting for Corporate Social Responsibilities
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21 Verified Questions
21 Flashcards
Source URL: https://quizplus.com/quiz/71413
Sample Questions
Q1) When an entity's net emissions are less than the permits they hold,at the end of the year they:
A) must forfeit the excess credits
B) can sell the excess credits to other entities
C) can bank the excess credits for future use
D) B and C above
Q2) The statement concerning social responsibility reporting in Australia that is not correct is:
A) Australian companies have been at the forefront of reporting and are well ahead of their counterparts in Europe and the US
B) since the 1980s there has been an increasing trend in the quantity and quality of disclosure
C) companies tend to disclose more positive than negative information
D) none of the above, i.e., all are correct statements
Q3) Triple-bottom line reporting involves giving information on a company's:
A) economic, environmental, and social activities
B) economic, voluntary, and human rights activities
C) environmental, social, and community activities
D) environmental, social, and political activities
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Chapter 29: Ethics in Accounting
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20 Verified Questions
20 Flashcards
Source URL: https://quizplus.com/quiz/71412
Sample Questions
Q1) The Code of Ethics for Professional Accountants is best described as:
A) deontological in nature
B) voluntary for all members of the ICAA, CPA Australia and the NIA
C) descriptive in nature
D) teleological in nature
Q2) 'Society-imposed costs' of unethical behaviour include:
A) destruction of professional reputation
B) penalties imposed through legal proceedings
C) penalties imposed by disciplinary proceedings by a relevant professional body
D) all of the above
Q3) Normative ethical theories are:
A) derived from common law rules of behaviour
B) descriptions of how people actually behave
C) beliefs about how people should behave
D) beliefs about how people actually behave
Q4) Should accountants act ethically? Explain the reasons for your answer to this question.
Q5) Briefly describe the classes of teleological theories that have been used to examine ethical behaviour.
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