Is Buddy behaving ethically? Why or why not? Who is affected by Buddy’s decision? How should Buddy have handled this situation?
Is Buddy behaving ethically? Why or why not? Who is affected by Buddy’s decision? How should Buddy have handled this situation?
Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN:9781337485913
Author:BROOKS
Publisher:BROOKS
Chapter3: Ethical Behaviour- Philosophers Contributions
Section: Chapter Questions
Problem 2Q
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Question
- Is Buddy behaving ethically? Why or why not?
- Who is affected by Buddy’s decision?
- How should Buddy have handled this situation?
Expert Solution
Step 1
- No buddy is not behaving ethically because the principles of accounting are not applied in preparation of trial balance and it is adjusted just to meet the deadline.
The trial balance is prepared on double entry concept and the debits and credits have to match. There should not be any manual adjustment in preparation of trial balance of the firm just to meet the deadline of reporting.
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