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Question 1: Which school of ethical thought is described in each of the following independent scenarios? Justify your choices. Reword each scenario so that it reflects a different school of ethical thought.
Problem a. Sean was working with a group of three other students on a financial statement analysis project for his introductory financial accounting course. He told the other group members that he would do the entire project with minimal input from them to ensure the whole group got a good grade.
Problem b. Lydia downloaded a solution to a graded homework problem in her AIS course from the Internet. She reasoned that doing so was ethical since it would give her a better grade when she presented the problem in class.
Problem c. Nicole's friend offered to share her intermediate accounting term paper with her; the paper had received an A when Nicole's friend took the course. Nicole refused her friend's offer, saying that cheating in any form is unethical.
Problem d. Ruben felt that using his class notes for a closed-book exam contradicted the values he had grown up with, so he decided not to do so.
Differentiate between each of the following pairs of terms.
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PROJECT CASH FLOW Eisenhower Communications is trying to estimate the first-year cash flow (at Year 1) for a proposed project. The financial staff has collected the following information on the project:
Who are the different users of accounting information? What are the differences between managerial and financial accounting? What is the role of the CPA and how does it differ from other accountants?
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