The Multiple Choice Questions Blog

Which ONE of the following is NOT a stated fundamental principle of the IESBA Code?

Select ONE answer:

1. Courtesy
2. Integrity
3. Objectivity
4. Confidentiality

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 – Independence and Courtesy are not fundamental principles of the lESBA code.
2. Not correct
3. Not correct
4. Not correct

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Which ONE of the following is NOT a stated fundamental principle of the IESBA Code?

Select ONE answer:

1. Integrity
2. Objectivity
3. Confidentiality
4. Independence

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 – Independence and Courtesy are NOT fundamental principles of the lESBA code.

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

Which ONE of the following describes how an assurance provider would check the existence assertion for a non-current asset?

Select ONE answer:

1. Trace the physical item to the non-current asset register
2. Trace the physical item to the financial statements
3. Trace an entry in the non-current asset register to the physical item
4. Trace an entry in the non-current asset register to the financial statements

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 – ICAEW qualified auditors acting in the UK are subject to the ICAEW Code and the FRC Ethical Standard.
4. Not correct

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ICAEW qualified auditors acting in the UK are subject to which ONE of the following sets of rules, regulations or standards?

Select ONE answer:

1. IESBA Code of Ethics
2. ICAEW Code of Ethics
3. The Law Society’s Ethical Standard
4. The Code of Ethics set by the Government

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 – ICAEW qualified auditors acting in the UK are subject to the ICAEW Code and the FRC Ethical Standard.
3. Not correct
4. Not correct

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

Which ONE of the following is NOT a reason why the accounting profession needs ethical codes?

Select ONE answer:

1. The law requires it
2. Accountants have access to confidential information
3. Assurance providers claim to give an independent view
4. The financial community relies on accountants

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 – There is no CURRENT legal requirement for ethical codes.
2. Not correct
3. Not correct
4. Not correct

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