Question Tag: Business Ethics

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AAA – Nov 2013 – L3 – A – Q13 – Environmental and Sustainability Audits

This question assesses the scope of social audit and identifies an area it does not cover.

Question

Social audit has to do with the extent to which a company gets involved and interacts with the society in which it operates. This means that social audit does not extend to ONE of the following:
A. Corporate code of conduct and business ethics
B. Pricing policy, product safety, and quality control
C. Transaction audit
D. Employee health and safety
E. Environmental pollution

Answer

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Tags: Business Ethics, Corporate Responsibility, Environmental audit, Social Audit
Level: Level 3

Topic: Environmental and Sustainability Audits
Series: NOV 2012

BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Objective question testing knowledge on moral persuasion in guiding acceptable conduct.

Question

6. A moral persuasion against wrongdoing or unacceptable conduct is
A. Ethics
B. Laws
C. Rules
D. Regulations
E. Morals

Answer

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Tags: Business Ethics, Conduct, Ethics, Morality
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2020

BMF – Nov 2020 – L1 – SB – Q4 – The Role of Professional Accountants in Business and

Explanation of ethical dilemmas, powers of professional bodies, and methods for resolving ethical dilemmas.

Question

(a) Distinguish between ethical dilemma and conflict of interest. (4 Marks)
(b) Globally, professional bodies are backed by law, consequently, a measure of authority is conferred upon them which they regularly exercise whenever the situation or circumstance demands.
State THREE powers of a professional body. (6 Marks)
(c) State FIVE possible ways of resolving ethical dilemma in a business environment. (10 Marks)

(Total 20 Marks)

Answer

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Tags: Business Ethics, Conflict of Interest, Conflict Resolution, Ethical dilemma, Professional Body Powers
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: NOV 2020

CSME – Nov 2015 – L2 – Q3 – Ethics in Business

Describes the nature of business and professional ethics, Kohlberg’s theory of moral development, and criticisms of the theory.

Question

Kalu, a competent consultant and accountant, works in Bosun and Company Limited. The company realized that almost all of its newly employed entry-level staff are deficient in business and professional ethics. Consequently, the Human Resources Manager recommended to the CEO that a training program on business and professional ethics should be organized. Kalu is nominated as a resource person to speak at the training program.

Required:
a. How should Kalu explain the nature and importance of business ethics and professional ethics? (6 Marks)
b. Advise Kalu on how he should analyze Kohlberg’s theory of moral development in an attempt to explain to the trainee participants how people generally develop a sense of morality both in personal and professional life. (10 Marks)
c. Discuss any TWO of the criticisms of Kohlberg’s theory. (4 Marks)

Answer

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Tags: Business Ethics, Ethical Training, Kohlberg’s Theory, Moral Development, Professional Ethics
Level: Level 2

Topic: Ethics in Business
Series: NOV 2015

CSME – Nov 2019 – L2 – Q6b – Ethics in Business

Discusses the differences between ethical subjectivism and situation ethics.

Question

b) Distinguish ethical subjectivism from situation ethics. (6 Marks)

Answer

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Tags: Business Ethics, Ethical Subjectivism, Situation Ethics
Level: Level 2

Topic: Ethics in Business
Series: NOV 2019

CSME – Nov 2021 – L2 – Q4 – Ethics in Business

Evaluate the morality of government approval for the Nesquake coffee processing plant using ethical models.

Question

The maker of Nesquake, a popular coffee brand, is planning to build a coffee processing plant in Epe, Lagos State. By virtue of production capacity, this will be the biggest coffee plant in Sub-Saharan Africa. This plant has the capacity not only to meet the coffee needs of the country but also meet the premium and regular coffee demands of West and Central Africa, generating over one thousand direct and ten thousand indirect jobs in the process. It is anticipated that the plant will provide huge company and personal income tax revenue to the government while also generating foreign exchange for the country. The company plans to use eco-friendly cutting-edge technology in its production processes. However, as the only available option, the company intends to import 100% of the coffee beans from Katanga, an East African country notorious for the use of child labour in the production of coffee beans. Recently, Amnesty International called for the boycott of Katanga’s coffee beans due to what has been adjudged unethical and inhuman labour practices. Despite this fact, the makers of Nesquake have secured all necessary approvals from the Federal Government and have consequently commenced construction of the coffee processing plants.

Required:
Evaluate the morality of government’s approval of the project using the following:
a. Tucker’s 5 Questions model (10 Marks)
b. American Accounting Association (AAA) model (10 Marks)

Answer

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Tags: AAA Model, Business Ethics, Morality, Tucker's 5 Questions
Level: Level 2

Topic: Ethics in Business
Series: NOV 2021

BMF – MAY 2016 – L1 – SA – Q14 – The Business Environment

Multiple choice question on areas of public concern regarding actions of major companies.

Question

The general public might consider that it has a stake or interest in major companies, because the actions of these companies can affect society as a whole. Areas of public concern may include any of the following EXCEPT

A. Public health, especially in the case of food manufacturers and manufacturers of drugs and medicines
B. Protection of the environment, reducing pollution, and creating ‘sustainable businesses’
C. Corruption in business practices
D. The exploitation of the consumer through misleading descriptions of goods
E. Excess profit made by these companies

Answer

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Tags: Business Ethics, Corporate Responsibility, Public Concern
Level: Level 1

Topic: The Business Environment
Series: MAY 2016

CSME – Mar/July 2020 – L2 – Q2b – Ethical Absolutism vs Relativism in Accounting

Distinguish between ethical absolutism and ethical relativism and identify types of ethical relativism.

Question

b. An adequate understanding of basic concepts and theories of ethics is a prerequisite for the evolution of the skills needed to address ethical issues that could arise while carrying out your duty as a professional accountant. Distinguish between ethical absolutism and ethical relativism. Also, identify THREE types of ethical relativism. (10 Marks)

Answer

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Tags: Business Ethics, Ethical Absolutism, Ethical Relativism, Professional Ethics
Level: Level 2

Topic: Ethics in Business, Professional Ethics
Series: MAR/JULY 2020

SCS – May 2020 – L3 – Q7 – Ethics and Social Responsibility

Identify and explain the ethical issues for Customer Focused Ltd in accepting Look and Like Ltd's proposed contract using an ethical decision model.

Question

Customer Focused Ltd has received a proposal from a potential supplier, Look and Like
Ltd, to provide fresh produce (Exhibit 2a) and is considering whether to accept. Kpakpo
Armah has written a note (Exhibit 2b) about Look and Like Ltd.
Required:
Using the information available, including information you feel relevant from your answer
to Section A:

Explain any ethical issues for Customer Focused Ltd in accepting the proposed contract. Use an ethical decision model to support your explanation.

Answer

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Tags: Business Ethics, Contract Evaluation, Ethical Decision-making, Ethical Models, Social responsibility
Level: Level 3

Topic: Ethics and social responsibility
Series: MAY 2020

BMF – May 2022 – L1 – SB – Q5b – The Role of Professional Accountants in Business and Society

Reasons why companies develop a code of ethics.

Question

State and explain TWO reasons why companies develop a code of ethics.

Answer

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Tags: Business Ethics, Code of Ethics, Corporate Governance
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2022

BMF – May 2022 – L1 – SB – Q5a – The Role of Professional Accountants in Business and Society

Explaining key business ethics terms and concepts.

Question

Explain the following terms:
i. Business ethics
ii. Whistle blowing
iii. Ethical dilemma
iv. Conflict of interests
v. Corporate code of ethics
vi. Principles-based code of ethics

Answer

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Tags: Business Ethics, Conflict of Interests, Corporate Code of Ethics, Ethical dilemma, Whistleblowing
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2022

BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Identifying what regulates members of professional bodies besides law.

Question

Members of professional bodies are regulated by law and

A. Ethical codes
B. Peer review
C. Morality
D. Clients
E. Conditional ties

Answer

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Tags: Business Ethics, Ethical Codes, Professional Bodies
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2021

BL – May 2017 – L1 – SA – Q8 – Business Ethics and Corporate Governance

Identifying an exception to fraudulent intents.

Question

Fraudulent intents include the following EXCEPT an intent to
A. Permanently deprive the owner of the thing
B. Use the thing as a pledge or security
C. Part with a thing on a condition as to its return that the person taking it may be unable to perform
D. Deal with the thing in such manner that it cannot be returned in substantially the same condition as it was when it was taken
E. Use it for a limited time

Answer

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Tags: Business Ethics, Fraud, Legal Intent
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2017

BL – May 2017 – L1 – SA – Q7 – Business Ethics and Corporate Governance

Identifying a non-function of an ethical code.

Question

Which of the following is NOT a function of an ethical code?
A. Administration by a professional body
B. Moral persuasion against wrongdoing
C. Regulation of professional conduct
D. Ensuring high standard of conduct
E. Protection of vulnerable consumers against the excesses of service providers

Answer

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Tags: Business Ethics, Corporate Governance, Ethical Code
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2017

BL – March July 2020 – L1 – SB – Q5c – Business Ethics

Explains why ICAN has an ethical code for regulating the conduct of professionals.

Question

Ethical codes are developed usually to regulate the conduct of professionals.

Required:
Explain why the Institute of Chartered Accountants of Nigeria (ICAN) has an ethical code.

Answer

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Tags: Business Ethics, Ethical Standards, ICAN, Professional Code of Conduct
Level: Level 1

Topic: Business ethics
Series: MAR/JULY 2020

CR – Nov 2023 – L3 – Q3b – Regulatory framework and ethics

Evaluate ethical issues arising from a company's proposal to sell non-controlling interest in a loss-making subsidiary and manipulate financial reporting.

Question

b) The Directors of Okonko Ltd are considering acquiring shares in blue-chip companies domiciled in Asia, Europe and North America in the near future in order to diversify their operations and minimise systematic risk. Unfortunately, the entity is currently cash strapped and unable to exploit such opportunities. They would prefer to raise finance from shares on the Ghana Stock Exchange because it is currently highly geared and they do not wish to expose the company to further financial and liquidity risk. They are therefore keen to have a good amount as the balance on the retained earnings in order to remain attractive to prospective investors.

One proposal is that they sell non-controlling interest in one of its domestic subsidiaries (Afa-Alhaji Ltd) which has been recording persistent losses for the past five (5) years. The sale will improve the cash position but Okonko Ltd will continue to maintain control over Afa-Alhaji Ltd. In addition, the Directors are of the strong opinion that the shares can be sold profitably to boost its retained earnings. The Directors intend to transfer the relevant proportion of their share of the losses from the domestic subsidiary to the retained earnings, knowing that this is contrary to accounting standards.

Required:

Explain FIVE (5) ethical issues which may arise from the proposal of the directors of Okonko Ltd. (10 marks)

Answer

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Tags: Business Ethics, Corporate Governance, Financial Reporting, Investor Relations, Regulatory Compliance
Level: Level 3

Topic: Regulatory Framework and Ethics
Series: NOV 2023

CSEG – May 2019 – L2 – Q6b – Business ethics

Discuss the importance of incorporating business ethics and sustainability into Apusco’s strategic management activities.

Question

Apusco is an indigenous multinational mining company which undertakes a wide range of mining projects around the world. Apusco has to work with many other organizations and government agencies in order to manage pollution and protection of the environment. Apusco’s mission statement states that ‘The basis of our company is built on the values of conducting business in a socially responsible and ethical manner. We respect the law, protect the environment, and embark on developmental projects in the community.’

Apusco’s values are included within its Ethical Code of Conduct. Apusco places high emphasis on its ethical and sustainable business practices. It involves employees, suppliers, and the members of local communities in which it operates in its strategic management processes. All these stakeholders are fully trained by Apusco in the Ethical Code of Conduct and they are expected to adhere to it.

Required:
Discuss FIVE (5) importance to Apusco for incorporating business ethics and sustainability into its strategic management activities.

Answer

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Tags: Business Ethics, Corporate Social Responsibility, Governance, Strategic Management, Sustainability
Level: Level 2

Topic: Business ethics
Series: MAY 2019

CSEG – May 2019 – L2 – Q4b – Business ethics

Assess the significance of Wakanda Ltd’s CSR stance in addressing the impact of a product contamination crisis.

Question

Wakanda Ltd is a listed multinational company which manufactures and sells fruit juice. Last year, Wakanda Ltd received criticism in the national press in Ghana and in other countries as a lot of customers were hospitalized after purchasing some of its fruit juice which was contaminated. This resulted in low patronage of its products and a huge fine by the Government.

The Board of the company believes in improving relationships with groups such as suppliers, customers, and employees in order to regain its reputation. It has come out with the following corporate social responsibility (CSR) initiatives in order to correct the shortfall in sales:

Paying all bills of hospitalized customers and reducing prices of the products for customers.
Sourcing high-quality raw materials from suppliers and providing suppliers with capital to produce more.
Using efficient processes and motivating staff to give their best.
Maintaining the highest standard of hygiene and complying with the standards issued by the Ghana Standards Board.

Required:
Assess the significance of the CSR stance taken by the Board.

Answer

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Tags: Business Ethics, Corporate Social Responsibility, Crisis Management, CSR, Stakeholder Relations
Level: Level 2

Topic: Business ethics
Series: MAY 2019

BCL – Nov 2016 – L1 – Q6c – Governance and Ethical Issues Relating to Business

List and describe the key principles of corporate governance.

Question

Corporate Governance has been defined as a set of systems, processes, and principles which ensure that a company is governed in the best interest of all stakeholders.

Required:
List SIX principles of corporate governance.

Answer

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Tags: Business Ethics, Corporate Governance, Ethical Principles, Ghana
Level: Level 1

Topic: Governance and Ethical Issues
Series: NOV 2016

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

Question

You have been invited as the Chief Operating Officer of Your Trusted Associates, a reputable Accounting and Management Consulting firm, to deliver the keynote address at a graduation ceremony for newly qualified Accountants.

Required:
In your address, differentiate between a “business code of ethics” and a “professional code of ethics” for Professional Accountants. (5 marks)

Answer

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Tags: Accountants, Business Ethics, Code of Conduct, Professional Ethics
Level: Level 1

Topic: Professional ethics in accounting and business
Series: NOV 2021

Question Tag: Business Ethics

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AAA – Nov 2013 – L3 – A – Q13 – Environmental and Sustainability Audits

This question assesses the scope of social audit and identifies an area it does not cover.

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BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Objective question testing knowledge on moral persuasion in guiding acceptable conduct.

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BMF – Nov 2020 – L1 – SB – Q4 – The Role of Professional Accountants in Business and

Explanation of ethical dilemmas, powers of professional bodies, and methods for resolving ethical dilemmas.

You're reporting an error for "BMF – Nov 2020 – L1 – SB – Q4 – The Role of Professional Accountants in Business and"

CSME – Nov 2015 – L2 – Q3 – Ethics in Business

Describes the nature of business and professional ethics, Kohlberg’s theory of moral development, and criticisms of the theory.

You're reporting an error for "CSME – Nov 2015 – L2 – Q3 – Ethics in Business"

CSME – Nov 2019 – L2 – Q6b – Ethics in Business

Discusses the differences between ethical subjectivism and situation ethics.

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CSME – Nov 2021 – L2 – Q4 – Ethics in Business

Evaluate the morality of government approval for the Nesquake coffee processing plant using ethical models.

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BMF – MAY 2016 – L1 – SA – Q14 – The Business Environment

Multiple choice question on areas of public concern regarding actions of major companies.

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CSME – Mar/July 2020 – L2 – Q2b – Ethical Absolutism vs Relativism in Accounting

Distinguish between ethical absolutism and ethical relativism and identify types of ethical relativism.

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SCS – May 2020 – L3 – Q7 – Ethics and Social Responsibility

Identify and explain the ethical issues for Customer Focused Ltd in accepting Look and Like Ltd's proposed contract using an ethical decision model.

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BMF – May 2022 – L1 – SB – Q5b – The Role of Professional Accountants in Business and Society

Reasons why companies develop a code of ethics.

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BMF – May 2022 – L1 – SB – Q5a – The Role of Professional Accountants in Business and Society

Explaining key business ethics terms and concepts.

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BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Identifying what regulates members of professional bodies besides law.

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BL – May 2017 – L1 – SA – Q8 – Business Ethics and Corporate Governance

Identifying an exception to fraudulent intents.

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BL – May 2017 – L1 – SA – Q7 – Business Ethics and Corporate Governance

Identifying a non-function of an ethical code.

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BL – March July 2020 – L1 – SB – Q5c – Business Ethics

Explains why ICAN has an ethical code for regulating the conduct of professionals.

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CR – Nov 2023 – L3 – Q3b – Regulatory framework and ethics

Evaluate ethical issues arising from a company's proposal to sell non-controlling interest in a loss-making subsidiary and manipulate financial reporting.

You're reporting an error for "CR – Nov 2023 – L3 – Q3b – Regulatory framework and ethics"

CSEG – May 2019 – L2 – Q6b – Business ethics

Discuss the importance of incorporating business ethics and sustainability into Apusco’s strategic management activities.

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CSEG – May 2019 – L2 – Q4b – Business ethics

Assess the significance of Wakanda Ltd’s CSR stance in addressing the impact of a product contamination crisis.

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BCL – Nov 2016 – L1 – Q6c – Governance and Ethical Issues Relating to Business

List and describe the key principles of corporate governance.

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BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

You're reporting an error for "BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business"

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