Question : 4) Which of the following differentiates confidentiality and credibility under : 1211727

4) Which of the following differentiates confidentiality and credibility under the Standards of Ethical

Conduct?

A) Credibility deals with refraining from activities that would prejudice carrying duties ethically, while confidentiality deals with communicating information fairly and objectively.

B) Confidentiality deals with refraining from the usage of critical information for unethical or illegal advantage, while credibility ensures disclosing the relevant information that would help the intended user’s understanding.

C) Credibility deals with refraining from the usage of critical information for unethical or illegal advantage, while confidentiality ensures disclosing the relevant information that would help the user’s understanding.

D) Credibility ensures appropriate level of professional expertise by continually developing knowledge and skills, while confidentiality encourages mitigation of actual conflicts of interest.

5) Which item is an indication of integrity under the Standards of Ethical Conduct?

A) Refrain from engaging in any conduct that would prejudice carrying out duties ethically.

B) Communicate information fairly and objectively.

C) Keep information confidential except when disclosure is authorized or legally required.

D) Recognize and communicate professional limitations or other constraints that would preclude responsible judgment or successful performance of an activity.

6) Which item is an indication of credibility under the Standards of Ethical Conduct?

A) Maintain an appropriate level of professional expertise by continually developing knowledge and skills.

B) Refrain from using confidential information for unethical or illegal advantage.

C) Abstain from engaging in or supporting any activity that might discredit the profession.

D) Disclose delays or deficiencies in information, timeliness, processing, or internal controls in conformance with organization policy and/or applicable law.

7) Ethical challenges for management accountants include ________.

A) whether to accept gifts from suppliers, knowing it is an effort to indirectly influence decisions

B) adhering to the principles of accounting

C) whether to file a tax return this year

D) whether to accept gifts higher incentives from the company for their performance

8) Which of the following actions should a management accountant take first in confronting a potential ethical conflict concerning your direct supervisor?

A) Inform the Board of Directors of the existence of a potential conflict.

B) Clarify relevant ethical issues by initiating a confidential discussion with an IMA Ethics Counselor.

C) Consult the attorney as to legal obligations and rights concerning the ethical conflict.

D) Follow the organization’s procedures concerning resolution of such a conflict.

9) If there is an ethical conflict concerning your direct supervisor, you may contact ________.

A) local media

B) IMA Ethics Counselor

C) attorney

D) board of directors

10) If there is an ethical conflict concerning your direct supervisor, when is it appropriate to contact authorities or individuals not employed by the organization?

A) when there is a personal conflict

B) when your supervisor is about to be promoted

C) when there is a clear violation of the law

D) when you face injustice from your supervisor

11) Competence includes maintaining an appropriate level of professional expertise by continually developing knowledge and skills.

12) As part of the Sarbanes-Oxley Act, internal auditors are solely responsible for the fair representation of the business operations in the financial statements.

13) Management accountants have important ethical responsibilities that are related to competence, confidentiality, integrity, and credibility.