When a Member Observes the Profession's Technical and Ethical Standards

question 48

Multiple Choice

When a member observes the profession's technical and ethical standards and strives to continually improve her competence and quality of services, she is exercising

• A) due care.
• B) integrity.
• C) independence.
• D) objectivity.

---

Definitions:

Return on Investment

A measure used to evaluate the efficiency of an investment, calculated by dividing net profit by the cost of the investment.

Profit Center Income Statement

A financial report that measures the profitability of a particular segment, department, or division within a company, distinguishing it from other areas of the business.

Revenues and Expenses

Revenues refer to the money generated from normal business operations while expenses are the costs incurred to generate those revenues.

Purchase Requisitions

Formal requests made within an organization to procure goods or services.