Self Assessment Quizzes

Chapter 29: Section 2 Ethics in the Accounting Profession

	1.	The accounting professional who reviews the reliability and integrity of a company’s internal financial, manufacturing, marketing, and human resources data and establishes plans to safeguard assets and use resources of the business economically is called

		a.	an internal auditor.
		b.	a corporate officer.
		c.	a bookkeeper.
		d.	an accounts payable clerk.

	2.	The principle that requires accountants to choose what is right and just over what is wrong is called

		a.	integrity.
		b.	confidentiality.
		c.	competence.
		d.	independence.

	3.	The professional organization that is devoted exclusively to management accountants and financial managers is called the

		a.	American Institute of Ethics Officers.
		b.	Institute of Management Accountants.
		c.	American Institute of Certified Public Accountants.
		d.	Institute of Internal Auditors.

	4.	If a CPA holds financial interest in a company he or she is auditing, the principle of

		a.	independence has been violated.
		b.	objectivity has been upheld.
		c.	confidentiality has been violated.
		d.	competence has been upheld.

	5.	The American Institute of Certified Public Accountants’ Code of Professional Conduct emphasizes the importance of ethical standards for CPAs to

		a.	the public.
		b.	clients.
		c.	colleagues.
		d.	all of the above.

	6.	To secure public trust, accountants should join a professional organization and adhere

		a.	to their own ideas of right and wrong.
		b.	to the standards of conduct expected by the organization.
		c.	only to the rules of the organization that they understand.
		d.	only to the directives and requests of their clients.

	7.	The principle that requires an accountant to protect information learned in the course of work is called

		a.	competence.
		b.	integrity.
		c.	confidentiality.
		d.	objectivity.

	8.	When accountants demonstrate the appropriate knowledge, skills, and experience needed for the tasks they are engaged in, they are following the principle of

		a.	independence.
		b.	confidentiality.
		c.	objectivity.
		d.	competence.