_15. An accountant must Recognize and help manage risk. According to the IMA Standards of Ethical Practice, this is included in which of the following categories?

a. Competence

b. Credibility

c. Integrity

d. Confidentiality

e. None of the above

____16. An accountant must Maintain an appropriate level of professional leadership and expertise by enhancing knowledge and skills. According to the IMA Standards of Ethical Practice, this is included in which of the following categories?

a. Integrity

b. Credibility

c. Competence

d. Confidentiality

e. None of the above.

____17. A company employing engineering or perfect efficiency standards in a standard cost system should expect that on a consistent basis:

a. most variances will be unfavorable

b. costs will be controlled better

c. employees will be more motivated to "hit" the standard

d. historical costs will be exceeded

e. none of the above

____18. The only quality of estimates of which you can be absolutely certain is

a. they are close

b. they are relevant

c. they are wrong

d. they will be used in the master budget

e. none of the above

____19. Conversion costs include

a. direct materials

b. direct labor and manufacturing overhead

c. direct materials and direct labor

d. direct materials, direct labor, and manufacturing overhead

e. none of the above