The ethical standards established for management accountants are in the areas of
A)competence,licensing,reporting,and education.
B)budgeting,cost allocation,product costing,and insider trading.
C)competence,confidentiality,integrity,and credibility.
D)disclosure,communication,decision making,and planning.

Question

Quizplus · Accepted Answer

The ethical standards established for management accountants are primarily focused on the four areas of competence (maintaining professional knowledge and skills), confidentiality (not disclosing confidential information), integrity (being honest and ethical in all professional dealings), and credibility (providing accurate and reliable information). Choice A is incorrect since licensing and reporting are not typically considered ethical standards, and education is already included under competence. Choice B is incorrect since budgeting, cost allocation, and product costing are part of a management accountant's job duties, not ethical standards, and insider trading is illegal and therefore not an ethical standard. Choice D is incorrect since disclosure, communication, decision making, and planning are all important parts of management accounting, but they do not represent the ethical standards that management accountants are expected to follow.

The Ethical Standards Established for Management Accountants Are in the Areas