Extending the Close of the Fiscal Year Beyond December 31

question 124

Multiple Choice

Extending the close of the fiscal year beyond December 31 so that some sales of next year are included in the current year would be a violation of which standard of ethical conduct for management accountants?

• A)competence
• B)confidentiality
• C)conformance
• D)all of these

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Definitions:

Positive Traits

Characteristics or attributes of an individual that are seen as beneficial, desirable, or conducive to well-being and successful outcomes.

Pleasure Principle

A psychoanalytic concept referring to the instinctual seeking of pleasure and avoidance of pain to satisfy biological and psychological needs.

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment.

Desires

Strong feelings of wanting or wishing for something to happen or be the case.