Which of the Following Is Not a Duty of a Management

question 139

Multiple Choice

Which of the following is not a duty of a management accountant under the IMA Statement of Ethical Professional Practice's competence standard?

• A)Maintain an appropriate level of professional expertise by continually developing knowledge and skills.
• B)Provide decision support information and recommendations that are accurate, clear, concise and timely.
• C)Mitigate actual conflicts of interest.Regularly communicate with business associates to avoid apparent conflicts of interest.Advise all parties of any potential conflicts.
• D)Perform professional duties in accordance with relevant laws, regulations, and technical standards.

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Definitions:

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, even if it was not predictable.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony in the group results in an irrational or dysfunctional decision-making outcome.

Poor Decisions

Choices or judgments that result in undesirable outcomes, often due to a lack of information, consideration, or impulse control.

Consensus

This term means general agreement among a group or the shared conclusions of a collective.