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Terry House, the controller for MicroTech Software Company, is responsible for preparing the companys financial...

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Accounting

Terry House, the controller for MicroTech Software Company, is responsible for preparing the companys financial statements. He learns that sales for the first quarter of the year have dropped so dramatically that the company is in danger of bankruptcy. As a result, he applies for an accounting position with another software company that competes with MicroTech. During his job interview, Terry is asked why he wants to leave MicroTech. He replies truthfully, The companys sales are down another 10% this quarter. I fear they will go out of business. At that time, MicroTech had not released its sales results to the public.

Discuss the ethics of this situation.

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