Which Ethical Standard Has Been Violated If an Accountant Fails

question 34

Multiple Choice

Which ethical standard has been violated if an accountant fails to prepare financial statements according to industry standards?

• A)Competence
• B)Confidentiality
• C)Integrity
• D)Credibility

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Definitions:

Purchase Supplies

The act of acquiring materials and consumable items required for the production process or office use.

Assets

Resources owned by a company that are expected to provide future economic benefits.

Investing Activity

Financial activities related to acquiring or disposing of non-current assets, such as property, plant, and equipment, which are recorded on a company's cash flow statement.

Cash Dividends

Dividends paid by a company to its shareholders in the form of cash.