The Concept of Accounting Ethics - SS1 Accounting Past Questions and Answers - page 1
1
What is accounting ethics?
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A
The principles and values that guide the behaviour of accounting professionals in their work.
B
The process of preparing financial statements.
C
The art of recording financial transactions.
D
The practice of tax planning.
2
Why is accounting ethics important?
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A
It helps accounting professionals to be popular in their field
B
It ensures that organizations and individuals make more profits.
C
It promotes transparency, accuracy, and reliability in financial reporting.
D
It reduces the amount of work that accounting professionals need to do.
3
Which of the following is an example of accounting ethics?
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A
Dishonesty
B
Disrespect
C
Selfishness
D
Honesty
4
What are some of the ethical principles that accounting professionals are expected to adhere to?
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A
Honesty, integrity, objectivity, confidentiality, and professional competence.
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B
Dishonesty, laziness, selfishness, incompetence, and disrespect.
C
Efficiency, timeliness, self-promotion, accuracy, and speed
D
None of the above.
5
What does ethical accounting practice help to build?
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A
Competitiveness among accounting professionals.
B
Mistrust and lack of confidence in financial information.
C
Trust and confidence in financial information.
D
None of the above.
6
Give an example of an ethical principle in accounting.
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7
Why is ethical accounting practice important?
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