According to the Institute of Management Accountants (IMA)Statement of Ethical

question 76

Multiple Choice

According to the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice,under the Integrity Standard,each member has the responsibility to:

• A)Communicate information fairly and objectively.
• B)Keep information confidential.
• C)Mitigate actual conflicts of interest.
• D)Maintain an appropriate level of professional competence.

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Definitions:

Precedents

Legal cases or decisions that have been established in the past and provide an example or rule to guide the determination of similar cases in the future.

Class Actions

Legal proceedings where a group of people with similar grievances against the same defendant are represented collectively.

Arbitration

A method of dispute resolution outside the courts, where an arbitrator makes decisions that are binding for the parties involved.

Individual Litigation

Legal action taken by a single plaintiff or defendant in a court proceeding, rather than by or against a group or class.