AICPA Ethics Code Exam questions with correct answers

Which step in the decision-making model is characterized by asking the question, "Are these opinions consistent with applicable professional ethics rules, regulations, and laws?" A. Recognize ethical issues B. Gather critical facts C. Consider the effect on stakeholders D. Consider rules, regulations, and laws Answer D. Consider rules, regulations, and laws Step 7 asks this question. You may determine that the greatest benefit and least amount of harm would likely result if you take a particular course of action, but if that course of action is inconsistent with the profession's rules of conduct, you may not ignore those rules. Which step in the decision-making model is characterized by asking the question, "If you had to discuss your decision in public, would you be concerned about how it reflects on your ethics" A. Recognize ethical issues B. Consider your comfort level C. Consider the effect on stake holders D. Consider rules, regulations, and laws Answer B. Consider your comfort level Step 6 asks you to consider your comfort level. Before you make a decision about the correct action when facing an ethical issue, you should ask yourself some questions. CPAs must follow the rules and standards promulgated by which body? A. AICPA