Question: True or False (5X3 = 15 Points) 21.An ethical decision model can be applied either to an individual decision making or decision making by a

True or False (5X3 = 15 Points)

21.An ethical decision model can be applied either to an individual decision making or decision making by a commercial enterprise and never to both.

A. True

B. False

22.Deciding on the Capital Structure of a publicly traded Company is the prerogative of the CEO and Senior Management since they run the day-to-day activities; the Board has no major role in this.

A. True

B. False

23.During most crises, the board has an important but only a secondary role to play.

A. True

B. False

24.AICPA Code of Professional Conduct requires that all accountants comply with the professional standards that apply to the services being performed.

A. True

B. False 8

25.An auditor, who is a CPA, has a savings account, which is fully insured by a federal agency, at a client financial institution. The auditor would still be considered independent in auditing the financial statements of the client.

A. True

B. False

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