Which of the Following Relates to the Credibility Section of the IMA

question 64

Multiple Choice

Which of the following relates to the credibility section of the IMA Code of Conduct?

• A)Prepare clear and complete reports.
• B)Communicate professional limitations.
• C)Avoid actual or apparent conflicts of interest.
• D)Communicate information fairly and objectively.

Understand the primary components of an internal control system and differentiate between control activities.

Recognize the classification and treatment of cash and cash equivalents in financial reporting.

Identify the objectives and components of physical controls to safeguard assets.

Comprehend the periodicity and independence requirement of internal reviews for reinforcing internal controls.

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Definitions:

RTO Timers

Retentive Timer On; a type of timer in PLC programming that retains its accumulated value even after the controlling input is de-energized.

TOF Timer

"Timer Off-Delay," an instruction in PLCs where the timer starts counting when the input signal turns off, executing an action after the delay period ends.

TON Timer

In PLC programming, it stands for "Timer On Delay", which starts timing when the input condition becomes true and triggers an output after a set time period has elapsed.

Accumulated Time

The total amount of time collected or summed up over a period, often used in scheduling or process control scenarios.