The Objectivity Standards of Management Accountants State That Management Accountants

question 3

Multiple Choice

The objectivity standards of management accountants state that management accountants must communicate information fairly and objectively. This means essentially that accountants must perform each task

• A) as professionals, possessing the degree of skill of those management accountants who held the position before them.
• B) to provide relevant information, both positive and negative, to the recipients of their reports.
• C) in conformity with generally accepted accounting principles.
• D) to the satisfaction of government regulators.

---

Definitions:

Supply and Demand

Fundamental economic concepts that describe how the availability of products (supply) and the desire for them (demand) determine prices.

Scarce

Describes resources or goods that are limited in availability and cannot satisfy all the wants and needs of consumers.

Positive Economics

A branch of economics focused on the description and explanation of economic phenomena, as opposed to normative economics which prescribes policies.

Value Judgments

Assessments based on personal or societal preferences, beliefs, or ethics, as opposed to objective measurements.