You Did Not Understand What the Term Accrual Meant and Failed

question 123

Multiple Choice

You did not understand what the term accrual meant and failed to accrue the interest due at the end of the year on the company's bonds. Which of the IMA standards appears to have been violated here?

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

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Definitions:

Quality Circles

A participatory management technique within businesses where a group of employees meets regularly to discuss workplace improvement and solve problems.

United States

A country in North America consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Canada

A country in North America known for its vast landscapes, multicultural population, and as a member of the Commonwealth with a parliamentary democracy and a constitutional monarchy.

U.S. Surgeon General

The leading spokesperson on matters of public health in the federal government of the United States, responsible for issuing warnings and advisories to the public.