According to the IMA Statement of Ethical Professional Practice, What

question 14

Multiple Choice

According to the IMA Statement of Ethical Professional Practice, what should a management accountant do if a significant ethical situation can't be resolved?

• A)The accountant should confront the guilty party and demand the unethical action be stopped.
• B)The accountant should try to rationalize and understand the position of the other party.
• C)The accountant should say nothing about the matter until he or she has retired.
• D)The accountant should first discuss the matter with the immediate supervisor.

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Definitions:

Dividend Preference

A feature of preferred stock that gives it priority over common stock in the payment of dividends.

Voting Rights

The entitlement of shareholders to vote on company matters, typically at the annual general meeting, proportional to the number of shares they hold.

Dividends In Arrears

Dividend payments that a company owes to its preferred shareholders but has not yet paid out.

Common Stock Dividend

A portion of a company's earnings distributed to holders of its common shares, often in the form of cash or additional shares.