01 If an IMA member has a problem in identifying unethical behavior or resolving an ethical conflict, the first action (s) he should normally take is to 1- Consult the board of directors. 2- Discuss the problem with his or her immediate superior. 3- Notify the appropriate law enforcement agency. 4- Resign from the company. Justify your choice Q2 Which ethical standard is most clearly violated if an IMA member knows of a problem that could Mislead users but does nothing about it? 1. Competence. 2- Legality. 3. Integrity 4- Credibility Justify your choice 03 Yara is a financial manager who has discovered that her company is violating environmental Regulations. If her immediate superior is involved, her appropriate action is to 1- Do nothing since she has a duty of loyalty to the organization. 2- Consult the audit committee. 3- Confront her immediate superior. 4- None of the above Justify your choice 04 A new management accountant is concerned about complying with the ethical standard of Competence in the IMAs Statement of Ethical Professional Practice. Which one of the following Is not required under the standard of competence? 1- Maintain expertise in all areas of accounting. 2- Continually develop knowledge and skills. 3- Perform duties in accordance with relevant regulations and standards. 4- Provide recommendations that are accurate and timely. Justify your choice 05 Ali, a new accounting clerk at a firm that had recently terminated several employees due to Budgetary cutbacks, accidentally viewed his supervisor's biweekly paycheck. Not realizing that The paycheck included an annual bonus; Ali by mistake multiplied the gross pay by 26 to find Annual earnings. Ali was amazed that his supervisor appeared to earn more than twice the local Average for employees in an accounting supervisory position. Ali discussed this situation with a Friend, a recently terminated employee of the company who now worked for a local newspaper. Because of this discussion, the supervisor's outrageous salary was made public. Which one of the Standards of the IMAs Statement of Ethical Professional Practice did Ali's actions violate? 1- Competence 2. Integrity 3- Credibility 4- Confidentiality Justify your choice 06 At ABC Company, the controller is responsible for directing the budgeting process. In this role, The controller has significant influence with executive management as individual department Budgets are modified and approved. For the current year, the controller was instrumental in the Approval of a particular line managers budget without modification, even though significant Reductions were made to the budgets submitted by other line managers. As a token of appreciation, the line manager in question has given the controller a gift certificate for a popular local restaurant In considering whether to accept the certificate, the controller should refer to which section of IMAs Statement of Ethical Professional Practice. 1- Confidentiality 2- Competence 3- Integrity 4- Credibility Justify your choice Best wishes 4