Which Statement Is False About Ethics

question 52

Multiple Choice

Which statement is False about ethics?

• A) Ethics are rules.
• B) Ethics are guidelines for how we perceive right and wrong.
• C) Ethics are a vital part of the accounting profession.
• D) Things may be unethical but still be legal.
• E) Ethics are only important in Canada.

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Definitions:

Centralization

The concentration of decision-making authority at upper levels of an organizational hierarchy.

Demand Instrument

A financial document or security that requires payment of the specified amount on demand by the holder, without specifying a particular time for repayment.

Bearer Instrument

A negotiable financial instrument that is not registered in anyone's name and can be transferred from one person to another by possession.

Two-party Instrument

A financial document or contract that involves two parties directly, typically involving a payer and a payee.