Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

Which of the following is considered the best strategy to improve business ethics in U.S. organizations?

Increasing the number of external audits conducted each year

Implementing a strong code of ethics and providing regular ethics training to employees

Allowing employees to self-regulate their own ethical standards

Relying solely on government regulations to enforce ethical behavior

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Verified step by step guidance

Understand the concept of business ethics: Business ethics refers to the principles and standards that guide behavior in the world of business. It involves making decisions that are morally right and socially responsible.

Evaluate the options provided: Analyze each strategy mentioned in the problem to determine its effectiveness in improving business ethics. For example, external audits focus on compliance but may not address the root cause of unethical behavior.

Recognize the importance of a code of ethics: A strong code of ethics provides clear guidelines for acceptable behavior and decision-making within an organization. It sets the foundation for ethical practices.

Consider the role of ethics training: Regular ethics training helps employees understand the code of ethics, recognize ethical dilemmas, and make informed decisions. It reinforces the organization's commitment to ethical behavior.

Conclude that a combination of a strong code of ethics and regular ethics training is the best strategy: This approach proactively addresses ethical behavior by setting clear expectations and equipping employees with the tools to act ethically.