ethics for business Quiz 1

Which statement describes the principle of objectivity?

• Following this principle requires scepticism and close attention to detail when reviewing information.

• Following this principle requires an accountant to stay technically up to date.

• Following this principle requires an accountant to keep their mind free from bias.

• By following this principle, an accountant minimises the risk of passing on incorrect information.

Under which circumstance might an accountant have to disclose information given to them in confidence?

• When requested by a regulator

• When requested by a fellow employee or client

• When requested by a lawyer

• When requested by an employer

An accountant who refuses to take on work as they do not have any experience in that area can be said to be arguing what?

• Professional behaviour

• Objectivity

• Professional competence

• Integrity

Which three of the following allow accountants to demonstrate the professional quality of scepticism?

• By reviewing the work of a junior before accepting it as correct.

• By investigating why information was given to them.

• By being straightforward and honest at all times.

• By seeking supporting evidence before accepting information is accurate.

• By keeping their mind free from distractions.

Which three of the following allow accountants to demonstrate the professional quality of scepticism?

• By reviewing the work of a junior before accepting it as correct.

• By investigating why information was given to them.

• By being straightforward and honest at all times.

• By seeking supporting evidence before accepting information is accurate.

• By keeping their mind free from distractions.

Which three of the following allow accountants to demonstrate the professional quality of scepticism?

• By reviewing the work of a junior before accepting it as correct.

• By investigating why information was given to them.

• By being straightforward and honest at all times.

• By seeking supporting evidence before accepting information is accurate.

• By keeping their mind free from distractions.

Which of the following is an example of an accountant's social responsibility?

• To provide accurate financial information to shareholders.

• To use recycling facilities if provided by their employer.

• To increase the profitability of the business they work for.

• To ensure the maximum corporation tax is paid by their employer.

Which three of the following are virtues explicitly contained in the CIMA Code of practice?

• Confidence

• Courtesy

• Social responsibility

• Respect

• Financial responsibility

Which of the following statements best describes the relationship between the Code of Ethics of CIMA and IFAC?

• IFAC's code is based on international standards whereas CIMA's is specific to the UK

• CIMA has picked the most important elements of the IFAC code for inclusion into its own.

• IFAC provides the detailed rules that CIMA must include in its code.

• CIMA's framework is generally the same as IFAC's with some amendments to ensure it meets other

  regulatory requirements.

Which three of the following explain why the principle of integrity is important?

• To prevent passing on misinformation.

• To prevent bias affecting an accountant's work.

• To enhance the credibility of an accountant's work.

• To protect the security of information.

• To ensure straightforward and honest dealings