One of the Fundamental Principles of the Code of Ethics

question 47

Multiple Choice

One of the fundamental principles of the Code of Ethics for Professional Accountants deals with professional behaviour.This requires accountants to:

• A) be straightforward and honest.
• B) maintain their knowledge and AACSB at an appropriately high level.
• C) refrain from any conduct that may bring discredit to their profession.
• D) all of the above

---

Definitions:

Compounded Monthly

Refers to the calculation of interest where the amount earned or paid is added to the principal balance each month, causing future interest calculations to be based on the increased balance.

Perpetuity

A type of annuity that receives an infinite series of identical cash flows.

Compounded Annually

An interest calculation method where interest is added to the principal sum at the end of each year, allowing for interest to be earned on interest in subsequent years.

Perpetuity

A type of annuity that pays a fixed amount of money to an individual indefinitely, without a set termination date.