AICPA ETHICS EXAM 50 QUESTIONS AND ANSWERS
2026/2027. PROFESSIONAL ETHICS & ACCOUNTING
STANDARDS VERIFIED QUESTIONS & ACCURATE ANSWERS
|| GRADED A+
50 QESTIONS AND ANSWERS
Ethical Decision Making Model - CORRECT ANSWER - helps you actively
work through gray area and choose the best possible solution to an ethical dilema
Step 1: Recognize the ethical issue
Step 2: Gather the critical facts
Step 3: Identify the stakeholders
Step 4: Consider your alternatives
Step 5: Consider the effect on stakeholders
Step 6: Consider your comfort level
Step 7: Consider rules, regulations and laws
Step 8: Make a decision
Step 9: Document your efforts
Step 10: Evaluate the outcome
Step 1 - CORRECT ANSWER - Recognize the ethical issue
Step 2 - CORRECT ANSWER - Gather the critical facts
,-you may not have all the facts, but you need the key ones (material)
Step 3 - CORRECT ANSWER - Identify the stakeholders
-who is affected by your decisions/actions
-consider as many as possible
Step 4 - CORRECT ANSWER - Consider your alternatives
-approaches you could take to address this matter and resolve the ethical conflict
Step 5 - CORRECT ANSWER - Consider the effect on stakeholders
-effect of each alternative
Step 6 - CORRECT ANSWER - Consider your comfort level
-how comfortable are you with each option
-how would you feel if you have to discuss your decision in public
Step 7 - CORRECT ANSWER - Consider rules, regulations, and laws
, -rules set by AICPA, state accountancy board, state CPA society
Step 8 - CORRECT ANSWER - Make a decision
-take the time you need
-discuss with colleague, gain perspectives, counsel, don't be hasty
Step 9 - CORRECT ANSWER - Document your efforts
-your understanding of the facts
-who you consulted with and their professional affiliations
-your decision
Step 10 - CORRECT ANSWER - Evaluate the outcome
-would you have done anything differently
Professional & Regulatory Bodies - CORRECT ANSWER - set ethics
standards and rules for members of the accounting profession
State CPA licensing boards
AICPA
2026/2027. PROFESSIONAL ETHICS & ACCOUNTING
STANDARDS VERIFIED QUESTIONS & ACCURATE ANSWERS
|| GRADED A+
50 QESTIONS AND ANSWERS
Ethical Decision Making Model - CORRECT ANSWER - helps you actively
work through gray area and choose the best possible solution to an ethical dilema
Step 1: Recognize the ethical issue
Step 2: Gather the critical facts
Step 3: Identify the stakeholders
Step 4: Consider your alternatives
Step 5: Consider the effect on stakeholders
Step 6: Consider your comfort level
Step 7: Consider rules, regulations and laws
Step 8: Make a decision
Step 9: Document your efforts
Step 10: Evaluate the outcome
Step 1 - CORRECT ANSWER - Recognize the ethical issue
Step 2 - CORRECT ANSWER - Gather the critical facts
,-you may not have all the facts, but you need the key ones (material)
Step 3 - CORRECT ANSWER - Identify the stakeholders
-who is affected by your decisions/actions
-consider as many as possible
Step 4 - CORRECT ANSWER - Consider your alternatives
-approaches you could take to address this matter and resolve the ethical conflict
Step 5 - CORRECT ANSWER - Consider the effect on stakeholders
-effect of each alternative
Step 6 - CORRECT ANSWER - Consider your comfort level
-how comfortable are you with each option
-how would you feel if you have to discuss your decision in public
Step 7 - CORRECT ANSWER - Consider rules, regulations, and laws
, -rules set by AICPA, state accountancy board, state CPA society
Step 8 - CORRECT ANSWER - Make a decision
-take the time you need
-discuss with colleague, gain perspectives, counsel, don't be hasty
Step 9 - CORRECT ANSWER - Document your efforts
-your understanding of the facts
-who you consulted with and their professional affiliations
-your decision
Step 10 - CORRECT ANSWER - Evaluate the outcome
-would you have done anything differently
Professional & Regulatory Bodies - CORRECT ANSWER - set ethics
standards and rules for members of the accounting profession
State CPA licensing boards
AICPA
