Statement evaluation. Several statements related to the material in the chapter
ID: 2553529 • Letter: S
Question
Statement evaluation. Several statements related to the material in the chapter are listed below; you are required to explain whether each statement is (i) always true, (ii) sometimes true, or (iii) never true.
As part of their commitment to professionalism, accounting professionals should communi- cate effectively.
Continuing professional education is part of an accountant’s professional responsibilities only if the accountant is a licensed CPA.
Following the Langenderfer and Rockness model will always lead different decision makers to the same decision.
Following the requirements of SOX ensures that accountants will behave ethically.
From an ethical egoism point of view, acting in one’s self-interest is always the same as act- ing selfishly.
In completing the seventh step of the Langenderfer and Rockness model, a decision maker may consult a non-accountant.
Professionalism in accounting requires adherence to the principles of virtue ethics.
Since most important ideas in accounting have not changed in many years, professionalism does not require any education beyond a bachelor’s degree.
Two different decision makers may reach different conclusions, even if both follow the Lan- genderfer and Rockness model.
Whether a person considers an action ethical or unethical depends on the person’s ethical point of view.
Explanation / Answer
Answer to the question-
* First statement is always true. According to fundamental principle of integrity.
* Second statement is never true. According to fundamental principle of professional competence professional accountants have a continuing duty to maintain professional knowledge.
* Third statement is always true. Since, Langenderfer and rockness model is based on seven steps that follow ethical ways to arrive at a decision.
* Fourth statement is sometimes true. According to SOX accountants should behave ethically.
* Fifth statement holds always true.
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