MC Questions on Ethics-1 - ACC 102 Ethics Questions Name:...

MC Questions on Ethics-1
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ACC 102 Ethics Questions Name: Class Time: 1. The Institute of Management Accountants' Statement of Ethical Professional Practice states that when faced with significant ethical issues, management accountants should first: A. discuss such problems with the immediate superior except when it appears that the superior is involved. B. clarify relevant concepts by confidential discussion with an objective advisor to obtain an understanding of possible courses of action. C. follow the established policies of the organization bearing on the resolution of such conflict. D. submit an informative memorandum describing the ethical issue to an appropriate representative of the organization and resign if no action is taken as a result of the memorandum. 2. Under the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board (PCAOB) established rules relating to the preparation of audit reports for issuers in which of the following? A. Auditing. B. Quality control. C. Ethics. D. Independence. E. All of the above. 3. Which of the following is not an element of competency? A. To develop appropriate knowledge about a particular subject. B. To perform duties in accordance with relevant laws.
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