Answer:
The correct answer is option (A) . Objectivity is not one of the ethical standards included in the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice.
Explanation:
The Institute of Management Accountants (IMA) Statement of Ethical Professional Practice are integrity, competence, credibility and confidence.
<u>Integrity.</u> Management accountants are also required to uphold very high levels of integrity. The ethical standards therefore require them to avoid any conduct that would prejudice carrying out duties ethically.They are also required to contribute to a positive ethical culture by shunning any activity that might discredit the profession.
<u>Competence.</u> As a measure of ensuring high competency levels,the Institute of Management Accountants (IMA) requires management accountants to sustain a high degree of professional expertise.They urge management accountants to consistently expand their knowledge and skills.
<u>Credibility.</u> The ethical standards championed by the Institute of Management Accountants (IMA) also emphasizes a high level of credibility. It asserts that management accountants should communicate information fairly and objectively, providing all relevant information that could reasonably be expected to influence judgment.
<u>Confidentiality.</u> All management accountants are required to retain a high level of confidentiality.The ethical standards prescribes that all information obtained while performing their tasks should be kept confidential except when disclosure is authorized or legally required. Additionally, confidential information should not be used for unethical or illegal advantage.
Answer:
See explanation section
Explanation:
To record the journal entry to write off the uncollectible account according to the direct write-off method, we have to use bad dad expanse instead of an allowance account.
December 31 Bad Debt Expense Debit $1,200
Account receivable - Acme, Inc. Credit $1,200
Note: As the company did not get the money from the Acme, Inc., They treated the expense as irrecoverable.
Answer:
c. financial resources
Explanation:
Based on the information provided it can be said that the most likely reason for the success of Lezos in international markets are their financial resources. That is because (like mentioned in the question) they are able to keep supporting these projects financially for as much time as they need in order for them to actually become successful. Therefore there is no other factor in play except for money.
Answer:
$55,000
Explanation:
Beginning raw material $75,000
Add: Purchases $40,000
Less: Ending raw material inventory <u>$(60,000)</u>
Raw material used <u>$55,000</u>