10.An unethical act:

A.Is always illegal as well

B.Is not necessarily illegal

C.Must, at minimum, violate a government regulation

D.Is determined for the accounting profession by the FASB

11.You are an Accountant for a growing tech company and ready for IPO. During year end you are responsible for accruing revenues to prepare the financial statement. Accrual entries are subjective as its an estimate of what is anticipated to be received. CEO or company is counting on you to do the right thing so to meet analysts expectations. If you applied utilitarian method to make your decision which one of the following most closely applies ?

A.Accrue revenue. While its technically not proper GAAP accounting, it will benefit the shareholders and CEO.

B.None of the above

C.Accrue revenue because its the right thing to do.

D.Dont accrue revenue because it wont benefit anyone

12.The AICPAs Code of Professional Conduct establishes:

A.The rules for resolving technical judgments in achieving a fair presentation of financial statements.

B.The normative rules of ethical behavior that guide professional accountants.

C.The rules of conduct for conducting audits, but no other forms of attestation.

D.The rules of conduct for structuring and conducting audits and other attestation engagements.