6) Which of the following statements is most accurate? A) Operating cycle takes into consideration accounts receivable turnover and days to pay payables. B) Operating cycle takes into consideration inventory turnover and days sales outstanding. C) Cash cycle takes into consideration days to sell inventory, days to pay payables, and asset turnover D) Cash cycle takes into consideration days to pay payables, days sales outstanding, and accounts receivable turnover. 7) Which of the following actions should a management accountant take first in confronting a potential ethical conflict concerning your direct supervisor? A) Clarify relevant ethical issues by initiating a confidential discussion with an IMA Ethics Counselor. B) Follow the organization's procedures concerning resolution of such a conflict. C) Consult the attorney as to legal obligations and rights concerning the ethical conflict. D) Inform the Board of Directors of the existence of a potential conflict. 8) The Institute of Management Accountants' standards of ethical conduct for management accountants includes the elements of: A. Competence, confidentiality, integrity, and relevance. B. Competence, confidentiality, integrity, and credibility. C. Competence, confidentiality, independence, and objectivity. D. Competence, accuracy, integrity, and independence. 9) Which of the following is not correct about the balanced scorecard? A) Value created for shareholders is a perspective on a balance scorecard B) nonfinancial and operational indicators are reported on a balance scorecard C) the balanced scorecard reveals information about the success of the company in its target market D) the balance scorecard increases managements emphasis on short-term results