Distinguish between ethical and unethical behavior in a bankruptcy setting. Mention the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 in your response.© BrainMass Inc. brainmass.com October 17, 2018, 2:48 am ad1c9bdddf
There is much emotion connected with bankruptcy which tends to result in hard opinions about what is right and what is not. Therefore, the following responses are opinions that may not agree with everyone, every time.
One major advancement in bankruptcy law was the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The purpose of the law was to prevent consumers from abusing the system by having debts easily cancelled, but it also provided a framework for repayment monitored by the court. ...
The 350 word cited solution explains recent changes in bankruptcy law to limit abuse. It also includes six statements considered ethical and six statements considered unethical.
1. What are some ethical challenges the financial services industry faces? What can be done to mitigate the potential for unethical behavior in the financial services industry?
2. Distinguish between ethical and unethical behavior in a bankruptcy setting
3. Explain ethical challenges an accountant could face in recognizing revenue for a firm. How could these challenges be addressed?View Full Posting Details