The Multiple Choice Questions Blog

Which ONE of the following bodies does NOT issue ethical guidance?

Select ONE answer:

1. ICAEW
2. IAASB
3. IESBA
4. FRC

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct – The IAASB issues ISAs but does NOT currently issue ethical guidance.
3. Not correct
4. Not correct

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For each of the following statements concerning professional ethics, select whether they are true, false, depend on the situation, or seek legal advice.

• A framework of ethical guidance prevents accountants from interpreting legalistic requirements narrowly to circumvent ethical requirements.

Select ONE answer:

1. True
2. Depends on the situation
3. False
4. Seek Legal advice

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct
2. Not correct
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

For each of the following statements concerning professional ethics, select whether they are true, false, depend on the situation, or seek legal advice.

• A framework of ethical guidance allows principles to be applied to different situations and is therefore effective in rapidly changing contexts.

Select ONE answer:

1. Depends on the situation
2. False
3. Seek Legal advice
4. True

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

For each of the following statements concerning professional ethics, select whether they are true, false, depend on the situation, or seek legal advice.

• Prescriptive ethical guidance rules are beneficial because they place the onus on the accountant to actively consider independence in every situation.

Select ONE answer:

1. Depends on the situation
2. True
3. False
4. Seek Legal advice

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct – As following prescriptive rules of ethical guidance may become a mechanical process without due consideration given to the ethical principles of each case.
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

Which ONE of the following statements is correct?

Select ONE answer:

1. The ICAEW Code of Ethics applies to its members only
2. The ICAEW Code of Ethics applies to its members, employees of member firms and ICAEW students
3. The ICAEW Code of Ethics applies to its members and employees of member firms only
4. The ICAEW Code of Ethics applies to its members, employees of member firms, ICAEW students and all other members of the UK accountancy bodies

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct – As per the ICAEW Code of Ethics, the Code applies to its members, employees of member firms and ICAEW students.
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.