GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJO-8Y5U-Y3B3-CITU-NCBT-GESU-
EPTI-CESU-NQJS-GOSU-N3JS-GASU-YQDN-GR5D-NQDG-E7JI-YT4D-JFNN-4OTI-
GO4W-NQNBEE
159. Explain what is meant by confidentiality and why it is important.
ANSWER: Management accountants are entrusted with sensitive information about their companies and
their dealings with outside firms. Confidentiality standards require that accountants honor
this trust. They cannot disclose confidential information without the permission of the
company, unless legally required to do so. They must monitor their subordinates to make sure
that they are upholding the confidentiality standard. They may not use or appear to use
confidential information acquired in their work for unethical or illegal advantage.
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Subjective Short Answer
HAS VARIABLES: False
LEARNING OBJECTIVES: COCM.HANS.18.1-4 - LO: 01.04
NATIONAL STANDARDS: United States - BUSPROG - Ethics
STATE STANDARDS: United States - v1 - ACBSP-APC-26 - Management Functions
United States - v1 - AICPA-01 - BB-Industry
United States - v1 - IMA-16 - Business Applications
KEYWORDS: Bloom's - Understanding
NOTES: Time Estimate - 10 min.
DATE CREATED: 10/7/2016 9:26 AM
DATE MODIFIED: 10/7/2016 9:26 AM
QUESTION ID: JFND-GO33-GINU-1CBA
QUESTION GLOBAL ID: GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-
GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMJ3-8F1U-KCJZ-CJTS-G3MR-GRSS-
CPUF-8YSS-CQJ3-GOSU-EQMF-GASU-EP3Z-GH5D-EC5R-E7JI-YT4D-JFNN-4OTI-
GO4W-NQNBEE
Full download link: https://bit.ly/3kQWes2
160. Discuss the three forms of accounting certification. Which form of certification do you believe is best for
management accountants? Why?
ANSWER: The three forms of certification are the Certified Public Accountant (CPA), the Certified
Management Accountant (CMA), and the Certified Internal Auditor (CIA). Although each
certification can prove to be valuable for management accountants, the CMA is tailored to fit
the needs of management accountants. The CPA has a public-accounting orientation, and the
CIA has an internal-auditing orientation. Only the CMA specifically addresses the
Chapter 1
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professional requirements of a management accountant.
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Subjective Short Answer
HAS VARIABLES: False
LEARNING OBJECTIVES: COCM.HANS.18.1-5 - LO: 01.05
NATIONAL STANDARDS: United States - BUSPROG - Analytic
STATE STANDARDS: United States - v1 - ACBSP-APC-26 - Management Functions
United States - v1 - AICPA-01 - BB-Industry
United States - v1 - IMA-07 - Cost Management
KEYWORDS: Bloom's - Understanding
NOTES: Time Estimate - 15 min.
DATE CREATED: 10/7/2016 9:26 AM
DATE MODIFIED: 10/7/2016 9:26 AM
QUESTION ID: JFND-GO33-GINU-1CNG
QUESTION GLOBAL ID: GCID-E7BW-1TBP-CTTU-Y3DF-GCHD-Q3DD-8Y41-4CUR-GRH1-43UR-GO4N-43UG-
GOHN-43JW-GAHU-1CTT-GIDI-GWN8-EPRW-EMMD-GH4D-CPB1-GYAU-EC5B-
CCSU-NPUD-CESU-OA3O-GOSU-EPBZ-8YSU-R3JS-GWAU-KAMD-E7JI-YT4D-JFNN-
4OTI-GO4W-NQNBEE