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Fumika is an accountant for BCS Inc. She is one of the executives whoreceives a bonus if net income increases by 6%. She does not under-stand the accounting rules for recognizing revenue related to leasedoffice space, but she believes that all revenue recognized during the lifeof the lease should be recognized in the current year, even though thelength of each lease isfive years. She knows the accounting rules per-mit the company to recognize revenue when the service is providedand her company allowed the clients leasing the office space to beginusing it immediately.10.(LO3)Considerthefourtypesofaccountants,thedestructiveaccountant,thegood-hearted accountant, the opportunistic accountant, and the virtuousaccountant. Describe what is missing from each accountant’s experience.How can you transform the destructive accountant, the good-heartedaccountant, and the opportunistic accountant into a virtuous accountant?11.(LO4) Explain why accounting is so important to societies and why there is aneed to make sure that accountants“play by the rules
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