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:

Variable Overhead

Costs of production that fluctuate with changes in production volume, such as utilities or raw materials, not directly tied to labor or capital.

Indirect Labor

Wages paid to employees who are not directly involved in production but support the process, such as maintenance and supervisory staff.

Precision Drills

High-accuracy tools used for making holes in various materials with exact measurements.

Variable Overhead

Costs that fluctuate with production volume, such as utilities or materials used in the manufacturing process.