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FACULTY OF COMMERCE, MANAGEMENT AND LAW Assignment 2 Financial Reporting and Ethics I.A full set of financial statements consists of: 2.Explain each of the following means: 2a.Accrual basis 2b.Liquidation basis 2c.Unqualified opinion 2d.Globalisation 2e.Corporate social responsibility 2f.Utilitarianism 2g.Egalitarianism 2h.Corporate governance 3.What is the difference between ethics and morality? 30 8 8 2 4.Can ethical qualities be attributed to corporations? Yes/No and explanation 2 5.Classify the below as a negative, positive or contractual right: 5a.freedom of speech 5b. right to private property 5c.protection against being defrauded, 5d.the right not to be enslaved by another 5e.a right to an education, 5f.the right to medical care, 5gThe right to a job. 5h.The right to sell a service or product. 5i.The right to purchase a service or product. 5j.The right to refunds and repairs. 10