Ethical Behaviour and Implications for Accountants MCQ | 60 Free MCQs

21. Satyam was audited by ____________ .
a) Batliboy & Co.
b) Furguson & Co.
c) Padwal & Co.
d) Price waterhouse

22. Law suit is the effect of _________ behaviour.
a) Legal
b) Ethical
c) Unethical
d) None of the above

23. Unethical behaviour results in Loss of __________ capital.
a) Loss of trust
b) Law suits
c) Human
d) All of the above

24. Ethics education can check ___________ reporting.
a) Unethical
b) Ethical
c) Legal
d) None of the above

25. Code of Ethics sets out company __________.
a) Values
b) Ethic
c) Objectives
d) All of the above

26. Whistle blowers are _________ of public.
a) Ears
b) Hands
c) both a & b
d) Eyes

27. A person who shares his knowledge on wrong doing is a __________.
a) Director
b) Whistle blower
c) Executive
d) All of the above

28. The components of workplace ethical behaviour are
a) Honesty
b) Legality
c) Disclosure
d) All of the above

29. Ethical behaviour ensures
a) Customer loyalty
b) Retain good employees
c) Positive environment
d) All of the above

30. Ethical behaviour encourages
a) Good actions
b) Bad actions
c) Illegal actions
d) None of the above

Answer: 21)Price Waterhouse 22)Unethical 23)Human 24)Unethical 25)Values 26)Eyes 27)Whistleblower 28)All of the above 29)All of the above 30)Good actions

31. If the company fails to comply with CSR obligations the penalty is not less than
a) Rs 20,000
b) Rs 30,000
c) Rs 50,000
d) Rs 75,000

32. Donating time towards a community is a
a) Ethical responsibility
b) Legal responsibility
c) Economic responsibility
d) Philanthropic responsibility

33. Accounting and finance need
a) Legal rules only
b) Ethical rules only
c) Social rules only
d) All of the above

34. Reasons for unethical behaviour include
a) Emphasis on short term results
b) Ignoring unethical issues
c) Economic cycles
d) All of the above

35. Principles of Ethical behaviour include
a) Integrity
b) Objectivity
c) Confidentiality
d) All of the above

36. Misappropriation of assets may take place
a) At Jr. level
b) At Sr. level
c) At middle level
d) At any level

37. Charging cost of family dinner to the company is
a) Misappropriation of assets
b) Fraudulent reporting
c) Ethical reporting
d) All of the above

38. Principles of Accounting and Finance ethics include
a) Integrity
b) Professional competence
c) Professional behaviour
d) All of the above

39. Rule-based accounting standards
a) Adds excessive complexity
b) Facilitates financial engineering
c) Do not reflect true and fair view
d) All of the above

40. An appropriate principles-based approach must be
a) Broad in its scope
b) Narrow in its scope
c) Definite in its scope
d) None of the above

Answer: 31)Rs 50,000 32)Philanthropic responsibility 33)All of the above 34)All of the above 35)All of the above 36)At any level 37)Misappropriation of assets 38)All of the above 39)All of the above 40)Broad in its scope

41. Rules–based approach provides
a) Room for judgement
b) No room for judement
c) Greater scope for interpretation
d) All of the above

42. Rules–based approach provides
a) Detailed rules
b) Consistency
c) Authoritative support
d) All of the above

43. In principles based approach the accountant has
a) No discretion
b) Discretion
c) Wider scope
d) All of the above

44. ASB is constituted by
a) ICAI
b) Central Government
c) State Government
d) None of the above

45. ASB is constituted in
a) 1977
b) 2014
c) 2015
d) 2002

46. The draft of Accounting Standard is circulated to
a) SEBI
b) CBDT
c) Members of ICAI
d) All of the above

47. Revised code ensures compliance of
a) Integrity
b) Objectivity
c) Confidentiality
d) All of the above

48. The code of Ethics applies to
a) Professional Appointments
b) Conflicts of Interest
c) Gifts & hospitality
d) All of the above

49. The ethical issues faced by the Accountants include
a) Accuracy
b) Accountability
c) Ethics, values and moral
d) All of the above

50. Code of Ethics sets out
a) Company values
b) Ethics
c) Objectives
d) All of the above

Answer: 41)No room for judement 42)All of the above 43)Discretion 44)ICAI 45)1977 46)All of the above 47)All of the above 48)All of the above 49)All of the above 50)All of the above