Ethics in Accounting
Accounts · 50 practice questions
Objectives of accounting ethics; qualities of an accountant.
- Understand the ethics required in preparing and presenting accounting information.
- Understand the qualities of an accountant, such as honesty, integrity, transparency, accountability and fairness.
Try a few questions
- Practice question 1
An accountant's duty to maintain confidentiality specifically may be overridden in certain circumstances, such as when
- A.the client has simply requested that the information remain fully confidential
- B.a factor entirely unrelated to a legal requirement to disclose information
- C.the information in question is, in fact, entirely trivial and insignificant
- D.legally required to disclose information
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D. legally required to disclose information
An accountant's duty of confidentiality specifically may be overridden in certain circumstances, such as a legal requirement to disclose.
- Practice question 2
An objective of accounting ethics specifically is to maintain public trust and confidence in
- A.the personal wealth of the accountant preparing the reports
- B.a factor entirely unrelated to the reliability of financial reporting
- C.the reliability of financial reporting
- D.no particular aspect of financial reporting whatsoever, despite its own purpose
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C. the reliability of financial reporting
An objective of accounting ethics specifically is to maintain public trust and confidence in financial reporting's reliability.
- Practice question 3
An ethical accountant, when faced with pressure from management to misstate figures, specifically should
- A.resign immediately without ever raising the concern with anyone at all
- B.resist such pressure and uphold professional standards
- C.comply immediately with such pressure, regardless of professional standards
- D.a factor entirely unrelated to resisting pressure or upholding standards
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B. resist such pressure and uphold professional standards
An ethical accountant, when faced with pressure to misstate figures, specifically should resist such pressure and uphold professional standards.
More UTME Accounts topics
- Nature and Significance of Bookkeeping and Accounting
- Principles of Double Entry
- Cash Book
- Bank Transactions and Reconciliation Statements
- Final Accounts of a Sole Trader
- Stock Valuation
- Control Accounts and Self-Balancing Ledgers
- Incomplete Records and Single Entry
- Manufacturing Accounts
- Accounts of Not-For-Profit-Making Organizations
- Departmental Accounts
- Branch Accounts
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