Which of the Following Is Not a Duty of a Management

question 83

Multiple Choice

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

• A)Mitigate actual conflict of interest.
• B)Refrain from engaging in any conduct that would prejudice carrying out duties ethically.
• C)Properly exercise authority.
• D)Abstain from engaging in or supporting any activity that might discredit the profession.

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Definitions:

Separately Stated Items

Items on a partnership or S corporation tax return that are passed through to the owners or shareholders separately from ordinary income.

Schedule K-1

A financial form that details the earnings, deficits, and dividend distributions for partners or shareholders of a partnership or S corporation.

Partnership Income

The share of profits or losses from a partnership that is reported on the personal income tax returns of the partners, influenced by the terms of the partnership agreement.

Separately Stated Items

Items on a partnership or S corporation tax return that are reported separately from ordinary income to ensure proper tax treatment at the partner or shareholder level.