Leslie Is the Accountant for a Major Movie Production

question 64

Multiple Choice

Leslie is the accountant for a major movie production. She is approached by a group of people from the press who ask her questions about the salaries of the actors and actresses involved in the film.
According to the Code of Ethics, which principle most closely governs the appropriate conduct in
This situation?

• A) Confidentiality
• B) Professional Competence and Due Care
• C) Integrity
• D) Objectivity and Independence

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Definitions:

Semiannual Interest

Interest that is calculated and paid twice a year, commonly found in bonds and loans.

Present Value

A financial concept that represents the current value of a future amount of money or stream of cash flows given a specified rate of return.

Compounded Annually

The process of calculating interest on the initial principal, which also includes all the accumulated interest from previous periods on a loan or deposit.

Amortization Schedule

A table detailing each periodic payment on a loan, showing the amount of principal and the amount of interest.