Issue 2. Part

a. You have received your grade in your first accounting course, and to your amazement, it is an A. You feel the instructor must have made a big mistake. Your grade was a B going into the final, but you are sure that you really “bombed” the exam, which is worth 30%

of the final grade. In fact, you walked out after finishing only 50% of the exam, and the grade report says you made 99% on the exam!

Requirements 1. What is the ethical issue?

2. Who are the stakeholders? What are the possible consequences to each?

3. Analyze the alternatives from the following standpoints:

(a) economic,

(b) legal, and

(c) ethical.

4. What would you do? How would you justify your decision? How would it make you feel afterward?

Part

b. Now assume the same facts as above, except that you have received your final grade for the course and the grade is a B. You are confident that you “aced” the final. In fact, you stayed to the very end of the period, and checked every figure twice! You are confident that the instructor must have made a mistake grading the final.

Requirements 1. What is the ethical issue?

2. Who are the stakeholders and what are the consequences to each?

3. Analyze the alternatives from the following standpoints:

(a) economic,

(b) legal, and

(c) ethical.

4. What would you do? How would you justify your decision? How would it make you feel?

Part

c. How is this situation like a financial accounting misstatement? How is it different?