In the Codes of Ethics for professional accountants, the principle of professional competence and due care means that:

a. members must not disclose outside the firm confidential information acquired as a result of professional and business relationships

b. members must be straightforward and honest in professional and business relationships

c. members must comply with relevant laws and regulations

d. members must maintain professional knowledge and skills

e. members must not compromise their professional or business judgement because of bias or conflict of interest

Orwell Ltd is about to introduce a new product and has established a target cost of $243 and a target margin on sales of 40%. What is the target selling price (rounded to the nearest whole number)?

a. $ 364

b. $ 608

c. $ 97

d. $ 405

e. $ 146