ACC510 Grantham University Business Ethics Exercises Paper the homework questions are attached.EXERCISE 1–4 Ethics and the Manager EXERCISE 1–9 Ethics and

ACC510 Grantham University Business Ethics Exercises Paper the homework questions are attached.EXERCISE 1–4 Ethics and the Manager EXERCISE 1–9 Ethics and Decision Making EXERCISE 1–10 Corporate Social Responsibility EXERCISE 1–4 Ethics and the Manager
Richmond, Inc., operates a chain of 44 department stores. Two years ago, the board of directors of
Richmond approved a large-scale remodeling of its stores to attract a more upscale clientele.
Before finalizing these plans, two stores were remodeled as a test. Linda Perlman, assistant controller,
was asked to oversee the financial reporting for these test stores, and she and other management
personnel were offered bonuses based on the sales growth and profitability of these stores. While
completing the financial reports, Perlman discovered a sizable inventory of outdated goods that should
have been discounted for sale or returned to the manufacturer. She discussed the situation with her
management colleagues; the consensus was to ignore reporting this inventory as obsolete because
reporting it would diminish the financial results and their bonuses.
Required:
According to the IMA’s Statement of Ethical Professional Practice, would it be ethical for Perlman not to
report the inventory as obsolete?
Would it be easy for Perlman to take the ethical action in this situation? (CMA, adapted)
EXERCISE 1–9 Ethics and Decision Making
Assume that you are the chairman of the Department of Accountancy at Mountain State University. One
of the accounting professors in your department, Dr. Candler, has been consistently and uniformly
regarded by students as an awful teacher for more than 10 years. Other accounting professors within
your department have observed Dr. Candler’s classroom teaching and they concur that his teaching skills
are very poor. However, Dr. Candler was granted tenure 12 years ago, thereby ensuring him life-long job
security at Mountain State University.
Much to your surprise, today you received a phone from an accounting professor at Oregon Coastal
University. During this phone call you are informed that Oregon Coastal University is on the verge of
making a job offer to Dr. Candler. However, before extending the job offer, the faculty at Oregon Coastal
wants your input regarding Dr. Candler’s teaching effectiveness while at Mountain State University.
Required:
How would you respond to the professor from Oregon Coastal University? What would you say about
Dr. Candler’s teaching ability? Would you describe your answer to this inquiry as being ethical? Why?
EXERCISE 1–10 Corporate Social Responsibility
In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: “There is one and
only one social responsibility of business—to use its resources and engage in activities designed to
increase its profits so long as it . . . engages in open and free competition, without deception or fraud.”
Required:
Explain why you agree or disagree with this quote.

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