As you said "I think James 4:17 answers your question from the Christian standpoint. If you know what is right to do, then by not doing it you have -chosen- not to do right."
If you have chosen not to do right you have chosen to do wrong. Can doing wrong be morally acceptable? "There are things that you can do that aren't good." Of course there are, from a Christian viewpoint, we have free will, just because we do it does not make it morally acceptable. This has been documented numerous times throughout the bible, starting with Adam and Eve eating the fruit from the tree of knowledge of good and evil.