The document consists of a series of philosophy-related questions and a business case study for 'Trap Adventures, Inc.' that includes financial transactions, journal entries, and a requirement for various financial statements. The questions reference ethical theories of Aristotle, Russell, Kant, Mill, and Sartre, while the business section focuses on accounting tasks like journal entries, trial balances, and financial statement preparation for a travel agency over December 2015. Overall, it encompasses both philosophical concepts and practical accounting assignments.

1. QUESTION 1
1. In the Nicomachean Ethics, Aristotle declares that if there is
some universal or absolute good in the life of a human being, it
must be ___________. Which the following best characterizes
Aristotle’s account of this universal good?
a.
happiness = that which is always chosen as end in itself and
never as a means.
b.
health = a man’s health is prior to any other possible good he
can experience or hope for.
c.
holiness = without faith in and reverence to God, nothing else in
life is worthwhile or meaningful.
d.
honesty = a man who is dishonest forfeits any possibility of
obtaining the good in life.
e.
honor = that which brings praise, dignity, and respect in a life
well lived.
0 points
QUESTION 2
1. In considering the nature of human excellence or virtue,
Aristotle claims the origin and growth of moral excellence is a
result of
a.
our innate human nature.

2. b.
the good will.
c.
courage and moderation in all things.
d.
inheritance.
e.
habit or custom.
0 points
QUESTION 3
1. In Aristotle’s theory of virtue, he argues that virtue, as a kind
of excellence of a thing that causes it to be both a good example
of that kind of thing and to be in such a condition as to perform
its particular function well. Further, Aristotle claims that virtue
a.
is exactly the same thing as holiness or piety.
b.
is a kind of emotional health.
c.
aims at the mean between excess and deficiency.
d.
is a quality that only the male of the human species can ever
perfectly embody.
e.
is the quality of never accepting moderation in any capacity or
skill.
0 points
QUESTION 4

3. 1. Russell compares his theory of universals with Plato’s
(although Plato call them “ideas” or “forms”). Although both
theories are about the common nature or essence shared by all
things given the same name or that are of the same kind, they
differ, according to Russell, in which of the following ways?
a.
Plato’s theory of forms or universals is leads to a kind of
mysticism while Russell’s theory of universals is grounded in
logic.
b.
While Plato’s theory conceives of universals as existing in a
different “plane” or level of reality—a supra-sensible world that
is more real than the world of common sense, Russell’s
universals exist only in individual minds.
c.
Plato’s theory claims substantives, adjectives, prepositions, and
verbs stand for particulars and proper names stand for
universals, Russell’s theory says just the opposite.
d.
Plato’s theory of forms or universals is about abstract ideas, not
about something that actually exists in the real world, but
Russell’s theory uses universals to refer to actual particular
things that exist in time and space.
e.
While Plato’s theory of forms is clearly based on empiricist
principles of knowledge, Russell sides much more with the
rationalists.
0 points
QUESTION 5
1. Ethical relativism is the view that

4. a.
whether an act is morally right can never be known for certain.
b.
the moral rightness of an act is relative to the amount of
goodness it produces.
c.
no particular act can ever be correctly judged as morally right
or wrong.
d.
the moral rightness of an act depends upon the society or
cultural group in which it is performed.
e.
our first moral duty is always to consider first those to whom
we are related.
0 points
QUESTION 6
1. For Kant, the central problem of ethics is:
a.
determining what one ought to do.
b.
to reconcile science with the commands of religion.
c.
to do what is right even in the face of temptation.
d.
to develop a good character through life experience.
e.
to come to know and admit one's own secret desires with

5. complete honesty.
0 points
QUESTION 7
1. At the heart of Kant's ethical view is the idea that:
a.
reason is the slave of the passions.
b.
persons have infinite worth.
c.
what's morally right varies from culture to culture.
d.
God is the author of moral law.
e.
enlightened self-interest is the key to a morally good life.
0 points
QUESTION 8
1. An important distinguishing characteristic of Kantian ethics
is that “all moral concepts have their origin entirely a priori in
reason. By this he means that
a.
people need to understand the drivers of human behavior before
they can make any reasonable moral judgments.
b.
prior to making moral judgments, one must first have the
wisdom of experience as well as an acute ability to observe
others.
c.

6. since human life is lived under varying and contingent
conditions, depending on the individual, one must know, ahead
of time, the particular circumstances of a person or situation
before any moral judgment can be made.
d.
our best guide to moral behavior is to look to the very best
examples; for example, the model of Jesus Christ or “God the
father”—only through such moral exemplars can humans derive
the idea of moral perfection.
e.
only through pure rational reflection on duty and the moral law
generally, unmixed with and preceding any empirical
inducements or self-interest, can we understand the
unconditional, universal command of the moral law.
0 points
QUESTION 9
1. The Toulmin model of argumentation elaborates on the basic
elements of an argument, the premises and conclusion, by
further specifying the roles played by different premises. Which
of the following pairs of terms are referred to in the following
description? The __________ is the general or categorical
assumption presumed to be self-evident; the __________ is the
specific evidence that fits within the category covered in the
general claim.
a.
backing; warrant
b.
truism; conclusion
c.
claim; assumption

7. d.
warrant; grounds or data
e.
grounds or data; qualifier
0 points
QUESTION 10
1. In Russell’s view, a satisfactory theory of truth necessarily
has to be able to
a.
show that all widely held beliefs are true.
b.
account for falsehood.
c.
demonstrate the equivalence of the facts and the truth.
d.
account for the intrinsic quality of a belief.
e.
be grounded solely in knowledge by acquaintance.
0 points
QUESTION 11
1. According to Russell, which sorts of truths have the highest
degree of self-evidence?
a.
matters of personal taste
b.
ethical and aesthetic truths
c.

8. personal truths
d.
truths of perception and basic logical principles
e.
memories from one's own experience
0 points
QUESTION 12
1. A Utilitarian thinker holds that it is morally permissible to lie
if:
a.
you don't intend to hurt anyone.
b.
you would want someone else in the same situation to lie to
you.
c.
the total happiness produced by telling the truth would be
diminished.
d.
only evil people are hurt by it.
e.
it is never right to lie, so there is no such situation or
circumstance.
0 points
QUESTION 13
1. John Stuart Mill, along with his older philosophical mentor
and colleague, Jeremy Bentham, were the originators of
Utilitarian ethical theory. The younger philosopher's version of
the theory included the following modification:

9. a.
Mill denied that all pleasures are of equal quality and
that pleasure and pain are the only morally relevant categories.
b.
Mill entirely abandoned the calculation of pleasures and pains
in determining the moral status of an action.
c.
Mill incorporated a Platonic account of virtue and character into
his version.
d.
Mill ascribed to a Kantian account of a priori duties and moral
obligations.
e.
Mill switched the focus from the consequences of an action to
the actor's intentions in carrying out the action.
0 points
QUESTION 14
1. According to Mill, the proper judge of which of two
quantitatively identical pleasures is better is:
a.
any competent adult.
b.
any competent person who has experienced both.
c.
an experienced Utilitarian philosopher.
d.
those who are in charge of making the laws of a society.

10. e.
None of the above because what counts as a pleasure or pain is
so radically different for every person that no such judgment is
possible.
0 points
QUESTION 15
1. One impressive advantage that might be attributed to
Utilitarianism is that it
a.
completely does away with notions of "morally right" and
"morally wrong" as they relate to particular individual lives.
b.
explains what pleasure is.
c.
provides a criterion for making ethical judgments that will be
completely consistent with the legislation of any state or
government.
d.
reduces complex moral problems to problems of empirical
investigation and calculation.
e.
disallows the assumption of the existence of God as divine rule-
giver.
0 points
QUESTION 16
1. Which of the following claims (but not necessarily expressed
in these exact words) can be accurately attributed to Russell?
a.
What is universally true may also be universally false.

11. b.
A priori judgments are the basis of all empirical
generalizations.
c.
All a posteriori knowledge implies knowledge of the relations
of universals.
d.
All empirical knowledge that is true is also non-empirical in its
foundations.
e.
All a priori knowledge necessarily involves knowledge of the
relations of universals.
0 points
QUESTION 17
1. The famous 20th-century existentialist thinker, Jean-Paul
Sartre, makes the ontological claim that “existence precedes
essence.” What does he mean by this?
a.
God has determined the nature of the universe, including human
nature.
b.
Being has a "blueprint," so to speak, and living correctly means
following it.
c.
Reflective consciousness is being conscious of consciousness
itself.
d.
Humans are condemned to play out their roles as determined by
nature, Fate, or God.

12. e.
Human individuals create, from nothing—no pre-existing moral
or spiritual foundation—their own values and meaning in life.
0 points
QUESTION 18
1. Sartre says that existentialism is not atheist is which of the
following senses?
a.
The surest and most desirable way for man to be “saved from
himself” is a valid proof of the existence of God.
b.
The despair of the existentialist is rooted in the failure to find a
reason to believe in God.
c.
Existentialism goes beyond proving that God does not exist.
d.
For those existentialists who do believe in God, essence
precedes existence.
e.
A fully realized version of existentialism indeed seeks to prove
that God does exist.
0 points
QUESTION 19
1. Sartre argues that values depend entirely upon the individual
person himself or herself, and once that is realized, it becomes
clear that the foundation, and indeed the goal, of any value
whatsover is
a.
God

13. b.
reason
c.
freedom
d.
society
e.
love
0 points
QUESTION 20
1. In arguing for the universality of existentialist principles,
Sartre says, “When we say that man chooses himself, we do
mean that every one of us must choose himself; but by that we
also mean that in choosing for himself he chooses for all
men...” What is his rationale for this claim?
a.
Anyone who is in a position to choose the purpose and
significance of his or her own life will be in a position of
sufficient power and authority in society so as to also make
choices for others.
b.
Any action a person may take in creating her life and her
identity as she freely wills it to be relies on a conception of
human life as she believes she ought to be—any choice made
implies the value of that choice.
c.
Sartre here is just pointing out the self-centeredness and
narcissistic tendencies of most people if they were given free
rein to determine the course of our lives—what he means here is

14. something like, “Someone has to be in charge, and if it can be
me, all the better!”
d.
Sartre actually attempts to ground universality in relativity; he
is really saying that every person has a different take on life and
a different life situation, so making choices for oneself alone is
really al we can do. It is not possible to choose for others. But
this is universally true.
e.
Since it is impossible for any one person to become a legislator
deciding for the whole of mankind on how to live life, it follows
that we are all in the same situation—we are all locked inside a
strictly subjective reality, so choosing for oneself is the fullest
extent of what it could mean to choosing for all men.
Assignment Details:
Using the data provided, perform the steps below to complete
the final project.
Final Project Data
On December 1, 2015 John Trap created a new travel agency,
Trap Adventures, Inc. providing exclusive adventure trips. The
following transactions occurred during December 2015.
(NOTE: There are no beginning balances – this is a new
company.)
Dec 1
John Trap invested $60,000 cash in the company for common
stock.
2
Purchase office equipment for $17,500 cash.

15. 2
The company rented furnished office space by paying $18,000
cash for the first six months (December 2015 - May 2016) rent.
3
The company purchased $1,500 of office supplies on account.
10
The company paid $3,600 cash for the premium on a 12-month
insurance policy.
14
The company paid $10,750 cash for two weeks' salaries earned
by employees.
24
The company collected $54,000 cash on commissions from
airlines on tickets obtained for customers.
28
The company paid $12,125 cash for two weeks' salaries earned
by employees.
29
The company paid $350 cash for minor repairs to the company's
computer.
30
The company paid $450 cash for this month's telephone bill.
30
Dividends of $3,000 cash were paid.
Final Project Requirements
Using the spreadsheet found here and information above,
complete the following:
Adjustment Data:
· One month's insurance coverage has expired.
· The company occupied the office space for the month of
December.
· At the end of the month, $600 of office supplies are still
available.
1. Create journal entries to record the transactions that occurred
during the month of December. (Completed in Unit 3)

16. 2. Prepare an unadjusted trial balance (Completed in Unit 3)
3. Create adjusting journal entries at the end of the year,
December 31 based on the adjustment data.
4. Prepare an adjusted trial balance.
5. Prepare an income statement, statement of stockholders'
equity, and classified balance sheet.
6. Create closing journal entries to close all temporary
accounts.
7. Prepare post-closing trial balance.
8. In addition, answer TWO of the questions below in 1-2 fully
developed paragraphs. A fully developed paragraph should
have a major point with 3 to 5 support sentences. One or two
sentences is not acceptable or does not discuss the question. Be
sure to show what you know!!!
1. Trap Adventures, Inc. is looking for an accountant. In your
own words, explain to Trap's hiring team the role of accountant
and accounting within business. Provide examples of the
expectations of the accountant.
2. Discuss the financial position of Trap Adventures, Inc. using
the following ratios:
1. Current ratio
2. Return on equity: For each ratio, provide the calculation and
an explanation of the meaning. Is this a positive or negative
result for the Trap Adventures, Inc.?
3. Using Trap Adventures, Inc.'s income statement, evaluate the

17. operations for the month of December. Complete a common-
size income statement using sales as the base number. What is
the largest percentage? What is the smallest percentage? What
recommendations could be made to increase Trap's net income?
4. Currently, Trap Adventures, Inc. does not own any loans or
bank notes (long-term liabilities). What would happen if Trap
decides to obtain a bank loan for $25,000 to fund daily
operations? How would this transaction impact the financial
statements - which accounts would be affected? What is the
debt to equity ratio? What does the debt to equity ratio
represent
Journal EntriesDec 122310142428293030
Unadjusted Trial BalanceTrap Adventures, Inc.Unadjusted Trial
BalanceDecember 31, 2015Totals$ - 0$ - 0
Adjusting EntriesDec 3131313131
Adjusted Trial BalanceTrap Adventures, Inc.Adjusted Trial
BalanceDecember 31, 2015Totals$ - 0$ - 0
Financial StatementsTrap Adventures, Inc.NOTE that there are
THREE Statements included on this sheet.Income StatementFor
the year ended December 31, 2015Revenues:$ -
0Expenses:Total Expenses- 0Net Income$ - 0Trap Adventures,
Inc.Statement of Stockholder's EquityFor the year ended
December 31, 2015Common StockRetained EarningsTotral
Stockholder's EquityBeginning Balance, December 1, 2015$ -
0$ - 0$ - 0- 0- 0- 0Ending Balance, December 31, 2015$ -
0$ - 0$ - 0Trap Adventures, Inc.Balance Sheet December 31,
2015AssetsLiabilitiesCurrent Assets:Current Liabilities:$ -
0Total Current Liabilities$ - 0Total Current Assets$ - 0Long-
term Assets:$ - 0Stockholder's EquityTotal Long-term Assets$
- 0$ - 0Total Stockholder's Equity- 0Total Assets$ - 0Total
Liabilities and Stockholder's Equity$ - 0
Closing EntriesDec 313131
Post-Closing Trial BalanceTrap Adventures, Inc.Post-Closing
Trial BalanceDecember 31, 2015Totals$ - 0$ - 0

18. Writing PortionNOTE that this tab should be used for the
writing portion of the Unit 5 IP Assignment.Answer two of the
questions below in 1-2 fully developed paragraphs. A fully
developed paragraph should have a major point with 3 to 5
support sentences. One or two sentences is not acceptable or
does not discuss the question. Be sure to show what you
know!!!1. Trap Adventures, Inc. is looking for an accountant.
In your own words, explain to Trap’s hiring team the role of
accountant and accounting within business. Provide examples
of the expectations of the accountant.2. Discuss the financial
position of Trap Adventures, Inc using the following
ratios: Current ratioReturn on equityFor each ratio, provide the
calculation and an explanation of the meaning. Is this a
positive or negative result for the Trap Adventures, Inc.?3.
Using Trap Adventures, Inc.’s income statement, evaluate the
operations for the month of December. Complete a common-
size income statement using sales as the base number.What is
the largest percentage? What is the smallest percentage?What
recommendations could be made to increase Trap’s net
income?4. Currently, Trap Adventures, Inc. does not own any
loans or bank notes (long-term liabilities). What would happen
if Trap decides to obtain a bank loan for $25,000 to fund daily
operations?How would this transaction impact the financial
statements – which accounts would be affected? What is the
debt to equity ratio? What does the debt to equity ratio
represent?