Accounting Multiple Choice Question – 18 January 2024

Which of the following statements best describes ethical guidance in the UK?

Select ONE answer:

1. Ethical guidance provides a set of rules which must be followed in all circumstances
2. Ethical guidance is a framework containing a combination of rules and principles, the application of which is dependent on the professional judgement of the accountant based on the specific circumstances
3. Ethical guidance provides a set of principles which can be applied at the discretion of the accountant
4. Ethical guidance is a series of legal requirements

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
3. Not correct
4. Not correct

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