When a Management Accountant Ignores Data in Favor of Unsupported

question 113

Multiple Choice

When a management accountant ignores data in favor of unsupported opinion, this action would speak most directly to which part of the IMA Code of Conduct?

• A)competence
• B)confidentiality
• C)independence
• D)credibility

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Definitions:

Economic Profits

Economic profits are the financial gains that occur when the revenue from business activities exceeds the costs, expenses, and the opportunity costs of all resources employed.

Monopolistically Competitive

Describes a market structure where many firms sell products that are similar but not identical, leading to competition based on product differentiation, price, and marketing.

Fixed Costs

Costs that remain constant regardless of the amount of goods produced or sold, including rent, wages, and insurance premiums.

Short Run

A time period in economics during which at least one input is fixed and cannot be changed by the business.