Which of the Following Is Not a Duty of a Management

question 83

Multiple Choice

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

• A)Mitigate actual conflict of interest.
• B)Refrain from engaging in any conduct that would prejudice carrying out duties ethically.
• C)Properly exercise authority.
• D)Abstain from engaging in or supporting any activity that might discredit the profession.

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Definitions:

Insurance Premiums

The amount of money that an individual or business must pay for an insurance policy.

Law of Diminishing Returns

The principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, while holding all other inputs constant, crucial in understanding production efficiency.

Average Product

The output per unit of input, such as the average amount of goods produced per labor hour.