Which of the Following Statements Best Explains Why the Auditing

question 8

Multiple Choice

Which of the following statements best explains why the auditing profession has found it essential to promulgate ethical standards and to establish means for ensuring their observance?

• A) Ethical standards that emphasise excellence in performance over material rewards establish a reputation for competence and character.
• B) Vigorous enforcement of an established code of ethics is the best way to prevent unscrupulous acts.
• C) A distinguishing mark of a profession is its acceptance of responsibility to the public.
• D) A requirement for a profession is to establish ethical standards that stress primarily a responsibility to clients and colleagues.

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Definitions:

Productivity

The measure of efficiency in converting inputs into useful outputs.

Assembly Line Worker

An individual who participates in a manufacturing process wherein each worker repeats one specific task to contribute to the production of a final product.

Rivets Per Minute

Measure of the speed at which riveting operations are performed, typically in manufacturing or construction settings.

MRP Of Land

The Marginal Revenue Product of Land is the additional revenue generated from the use of an additional unit of land, holding other factors constant.