According to the IMA Code of Ethics, What Should a Management

question 8

Multiple Choice

According to the IMA Code of Ethics, 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:

Marginal Revenue Product

The extra income produced by utilizing an additional unit of a resource or production factor.

MRP Curve

The Marginal Revenue Product curve, representing the additional revenue generated by hiring one more unit of a resource in the factor market.

Wage Rate

The standardized payment given to employees for their labor, typically denoted as an amount per hour or per year.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a resource, factor, or input.