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

Question

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

Mitigate actual conflicts of interest.

Maintain an appropriate level of professional competence.

Keep information confidential.

d. Communicate information fairly and objectively.

Question#2

Which of the following costs would be least likely to appear on a responsibility accounting report for the supervisor of an assembly line in a large manufacturing situation?

Direct labor

Supervisor's salary

Repairs and maintenance

Materials

a.

Mitigate actual conflicts of interest.

b.

Maintain an appropriate level of professional competence.

c.

Keep information confidential.

d. Communicate information fairly and objectively.

Question#2

Which of the following costs would be least likely to appear on a responsibility accounting report for the supervisor of an assembly line in a large manufacturing situation?

a.

Direct labor

b.

Supervisor's salary

c.

Repairs and maintenance

d.

Materials

Explanation / Answer

1) Option.A) Mitigate actual conflicts of interest.

According to the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice, under the Integrity Standard, each member has the responsibility to Mitigate actual conflicts of interest.

2) option.B) Supervisor's Salary

Thanks

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