Which Most Closely Identifies Why It Is Important for Payroll

question 22

Multiple Choice

Which most closely identifies why it is important for payroll accountants to adhere to the AICPA Code of Ethics?

• A)To maintain company profitability.
• B)To overlook fraudulent actions of company officers.
• C)To protect the assets of the company and remit money owed to the government.
• D)To maintain personal standards only.

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Definitions:

Risk

The potential for loss or adverse outcomes arising from a variety of factors, including financial, operational, reputational, or external events.

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe existing states or future outcomes.

Intuition

The ability to understand or know something immediately based on one's feelings rather than factual evidence or logical reasoning.

Availability Heuristic

Bases a decision on recent events relating to the situation at hand.