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BA4 Exam Dumps : Fundamentals of Ethics, Corporate Governance and Business Law

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Fundamentals of Ethics, Corporate Governance and Business Law Questions and Answers

Question 1

There are several different schools of ethics. Which of the following best represents the ethical approach adopted by the accountancy profession?

Options:

A.

People have a duty to comply with a set of universal principles that apply irrespective of the consequences of their actions

B.

The guiding principle of conduct should be the greatest happiness or benefit of the greatest number.

C.

People should act in their own best interests and an action is only right if it benefits the individual undertaking that action

D.

Virtues such as charity and justice are dispositions to act in ways that benefit both the person possessing them, and society as a whole

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Question 2

ABC Accountants has taken out an advert in its local paper to promote its services.  Mr B, an account manager, is uncomfortable, as the advert says that ABC is expert in charitable tax issues, and he knows that none of the partners have that expertise. However, Mr B does not want to be thought of as a 'trouble maker' by bringing the matter up with his manager. Which TWO things should Mr B do?

Options:

A.

Seek guidance from CIMA's Code of Ethics

B.

Seek guidance from his line-manager

C.

Do nothing

D.

Speak to the local paper

Question 3

Which of the 'fundamental principles' of CIMA's Code of Ethics is defined as follows?

 

"A professional accountant should comply with the relevant laws and regulations and should avoid any action that discredits the profession"

Options:

A.

Integrity

B.

Objectivity

C.

Professional competence and due care

D.

Professional behavior