Performing Duties in Accordance with Relevant Laws, Regulations, and Technical

question 101

Multiple Choice

Performing duties in accordance with relevant laws, regulations, and technical standards comprise the IMA professional ethics standard of

• A)credibility.
• B)competence.
• C)integrity.
• D)confidentiality.

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Definitions:

Receivables Turnover

This is a financial ratio that measures how efficiently a company collects debts from its customers, indicating how many times receivables are converted into cash in a period.

Interval Measure

The interval measure is a liquidity metric that estimates how long a company can operate using its current liquid assets without needing additional financing.

Quick Ratio

A measure of a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as (current assets - inventories) / current liabilities.

Inventory

The goods and materials a business holds for the ultimate goal of resale or processing.