SECTION 2: true or false

__________6.Accountants have an ethical and legal obligation to report financial data correctly.

__________7.It is acceptable to take bribes from the manager for manipulating the books in accounting.

___________8.It is acceptable to report your employer to the authorities when the company you work for is NOT following accounting regulations.

___________9.When an accountant needs to manipulate the figures to attract investors,this is an example of an ethical issue.

___________10.Failure to following accounting standards will result in lawsuits,imprisonment or fines.

SECTION 3:True or False

__________1.Accountants have an ethical and legal obligation to report financial data correctly.

__________2.It Is ethical for an accountant to talk about the financial status of a company to anyone.

___________3.All businesses are started with the intention of making a profit.

___________4.Bookkeeping is the process of recording business transactions and managing such records

.

___________5.The accounting sequence involves recording,classifying and summarizing data and then communicating the information.

___________6.Some user of accounting information are investors and creditors

___________7.The employers are a group of people who have an interest in the accounting information for assessing the company's profitability and its consequences on their future remuneration and the job security

___________8.A career is an occupation undertaken for a period of a person,s life with opportunities and progress.

___________9.An accountant frequently encounters ethical issues.

____________10.The basics of business is trading with others and good financial controls are essential if the organization is to succeed.