The Institute of Management Accountants Has Developed a Code of Ethics

question 188

Multiple Choice

The Institute of Management Accountants has developed a code of ethics that requires management accountants to behave in certain ways.Which of the following behaviors is not required?

• A) Competence.
• B) Integrity.
• C) Maintenance of confidentiality.
• D) Communication of information in credible manner.
• E) Timeliness.

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Definitions:

Capital Cost Allowance

A tax deduction available in some jurisdictions for tangible and intangible assets, allowing businesses to write off the cost of assets over their useful life.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in a linear fashion, resulting in a constant annual depreciation expense.

Tax Rate

The percentage at which an individual or corporation is taxed by the government, applicable to income, capital gain, or other taxable bases.

IFRS 8

An International Financial Reporting Standard that requires companies to report financial information by business segment to provide a clearer understanding of a company’s performance.