42 A professional accountant is one who has expertise in the field of accountancy, achieved through formal education and practical experience. From the options given below identify which one statement does not the quality of professional accountant? a. A professional accountant contributes to the efficient allocation and management of resources b. A professional accountant benefits Board of Directors rather than shareholders c. A professional accountant benefits the society as a whole d. A professional accountant benefits the economy

Q: Which of the following statements about finance, accounting, and financial management is most…

A: Finance is the amount or value of money being held by the business. Accounting is the process of…

Q: The study of corporate governance and the Code of Ethics for Professional Accountants is essential…

A: There have been several recent corporate collapses that highlight the importance of corporate…

Q: Objective Type Question: Which of the following is NOT one of the stages outlining management…

A: The answer is:D) Human Resource ManagementExplanation: While management accountants may interact…

Q: Which of the following skills/attributes is not a primary skill for accountants to possess? written…

A: An accountant is a person who keeps a track of all the transactions of the business. He analyses the…

Q: Which one of the following fundamental principles of professional conduct is under threat when an…

A: Accountants are professionals and relevant professional bodies for accountants have outline…

Q: How does a person become a better managerial accountant?

A: The objective of the question is to understand the steps and strategies that can help an individual…

Q: What three principles allow management accountants to provide the most value to managers?

A: The principals that managements accountants follow to provide the most value to managers are

Q: 1. Describe cost management and explain how it differs from financial accounting. 2   Identify…

A: Cost management is a process by which companies control and plan the costs of doing business. It…

Q: Which of the following point is related to institutional factors that affect the accounting quality?…

A: Accounting quality refers to the accuracy, completeness, and reliability of financial information…

Q: The objectives of financial reporting for business enterprises are based on the need for…

A: Financial reporting is the financial result of an organisation. Financial result include cash flow…

Q: Which of the following statements is true about managerial accounting? O It must be prepared using…

A: Accounting is generally used to record financial information and study those information. The…

Q: Respond to this topic by indicating what you think are the top three ethical problems facing…

A: Bookkeeping: Bookkeeping is the course of recording and coordinating all the deals that have…

Q: Which of the following is true of financial accounting, but not true of managerial accounting?…

A: The accounting is a process to identify the business transactions, record the transactions and…

Q: Which of the following professional certificates is considered to be the most relevant for dealing…

A: Cost management is the process of planning, controlling, and optimizing the costs associated with a…

Q: In an organization with each of these financial positions, which title is most likely to be…

A: The correct answer is Chief Financial Officer (CFO)Chief Financial Officer (CFO) focuses on…

Q: Why is the public’s image of the accounting profession important and how does Ethics for Accountants…

A: Accounting is the presentation of the financial results to show the true and fair view of accounts.…

Q: Indicate TRUE or FALSE after the statement.1. Although financial and managerial accounting differ in…

A: TRUE: Both financial and managerial accounting rely on the same underlying financial data. While…

Q: 31, The statement of financial position of Mandela 2020 shows cash balance of P900,000, It was found…

A: Cash represents the current assets that are reported in the balance sheet of the company.

Q: Evaluate the following statements from an ethical perspective:“Earnings management in a narrow sense…

A: "Earnings management, in a narrow sense, is the behavior of management to play with the…

Q: Which phrase best describes the current role of the managerial accountant? Managerial accountants…

A: The managerial accounting involves the collection of data and its communication to the managers.

Q: In Chapter 3 of the Scott book, two theories of financial reporting are proposed, the decision…

A: Answer:-  External reporting meaning:- The dissemination of financial statements to parties outside…