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NAU ACC 205 FINAL EXAM
QUESTIONS WITH 100% CORRECT
ANSWERS!!
Question : act of state doctrine
CORRECT ANSWER : judicial branch of one
government will not examine validity of public acts committed by foreign government
Question : administrative agency
CORRECT ANSWER : state, local, or federal; given
power through Congress through enabling legislation; created for implementation of statutes(laws)
Question : administrative law judge
CORRECT ANSWER : one who presides over an
administrative agency hearing and has the power to administer oaths, take testimony, rule on questions of evidence, and make determinations of fact
Question : commerce clause
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CORRECT ANSWER : Congress/ federal government
can regulate interstate commerce
Question : dormant commerce clause
CORRECT ANSWER : implied that because Congress/
federal government has the power to regulate interstate commerce, the states do not
Question : corporate social responsibility
CORRECT ANSWER : combines good citizenship with
ethical decisions, improving society, and minimizing environmental impacts; not a law but encouraged
Question : C--COVER (what it stands for)
CORRECT ANSWER : codes of conduct
Question : C--codes of conduct
CORRECT ANSWER : the application of specific codes/
statutes of a profession
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Question : O--COVER (what it stands for)
CORRECT ANSWER : outcomes
Question : O--outcomes
CORRECT ANSWER : greatest amount of good for the
greatest number of people (outcome based analysis/ utilitarianism/ cost/benefit analysis)
Question : V--COVER (what it stands for)
CORRECT ANSWER : values
Question : V--values
CORRECT ANSWER : reflected in a company's mission
statement
Question : E--COVER (what it stands for)
CORRECT ANSWER : editorial
Question : E--editorial
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CORRECT ANSWER : if your decision was publicized,
would you still make the same decision? (looking on a big scale)
Question : R--COVER (what it stands for)
CORRECT ANSWER : rules
Question : R--rules
CORRECT ANSWER : applies a universal standard;
categorical imperative: what if everyone followed or
didn't follow a rule (stealing a pen)
Question : diversity jurisdiction/ diversity of citizenship
CORRECT ANSWER : the power of the federal courts
to hear matters of state law if the opposing parties are from different states and the amount in controversy exceeds $75,000