Which of the Following Is Not a Duty of a Management

question 139

Multiple Choice

Which of the following is not a duty of a management accountant under the IMA Statement of Ethical Professional Practice's competence standard?

• A)Maintain an appropriate level of professional expertise by continually developing knowledge and skills.
• B)Provide decision support information and recommendations that are accurate, clear, concise and timely.
• C)Mitigate actual conflicts of interest.Regularly communicate with business associates to avoid apparent conflicts of interest.Advise all parties of any potential conflicts.
• D)Perform professional duties in accordance with relevant laws, regulations, and technical standards.

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Definitions:

Segment Margin

The amount of profit or loss generated by a specific segment of a business, after accounting for the direct costs and traceable fixed costs.

Avoidable Cost

Expenses that can be eliminated if a particular action is not taken.

Special Order

An order for goods or services that is outside of a company's normal operations, often requiring unique pricing or production considerations.

Minimum Selling Price

The lowest price at which a product or service can be sold while still covering its production or procurement costs.