An Accounting Association Established a Code of Ethics for All

question 54

Multiple Choice

An accounting association established a code of ethics for all members.The most likely primary purpose for establishing the code of ethics was to:

• A)Outline criteria for professional behavior to maintain standards of competence,morality,honesty,and dignity within the association.
• B)Establish standards to follow for effective accounting practice.
• C)Provide a framework within which accounting policies could be effectively developed and executed.
• D)Outline criteria that can be utilized in conducting interviews of potential new accountants.

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Definitions:

Camp David Accords

A peace treaty between Israel and Egypt brokered by the United States in 1978, leading to significant steps towards peace in the Middle East.

Oliver North

A United States Marine Corps officer involved in the Iran-Contra affair during the Reagan administration.

Barry Goldwater

An American politician, businessman, and author who was a five-term Senator from Arizona and the Republican Party's nominee for President in 1964.