Cima C05 Exam Question No 12

Question No 12:

When a professional accountant faces choices which amounts to conflict or breach, he / she should always:
i. Think objectively, and take his / her preferences out of the equation
ii. Act professionally, and seek guidance from the CIMA Code of Practice and CIMA
iii. Reflect on the situation, and continue to learn and develop

A. Only i and ii are correct
B. Only ii and iii are correct
C. Only i and iii are correct
D. Only i, ii and iii are correct

Answer: D

Cima C05 Exam Question No 11

Question No 11:

All of the following are the Fundamental Principles of CIMA Code of Ethics professional accountants are supposed to call upon to resolve ethical conflicts, EXCEPT which ONE?

A. Integrity
B. Effect
C. Transparency
D. Fairness

Answer: D

Cima C05 Exam Question No 10

Question No 10:

Rex, a CIMA Member, is facing with the following ethical dilemma.
Rex’s wife has just got a job as managing director with a great remuneration package of a successful organization, which also happens to be one of his biggest clients.
Which statement is CORRECT?

A. Rex should prevent his wife from taking up this job, as it appears unethical.
B. By working through the CIMA Code of Ethics, Rex will find guidance how to deal with this ethical dilemma.
C. There is no ethical dilemma, as Rex and his wife are independent entities as far as their jobs are concerned.
D. Rex should immediately notify his client that he intends to terminate his service if it recruits his wife to avoid ethical conflict.

Answer: B

Cima C05 Exam Question No 9

Question No 9:

All the following are sources of values that give rise to ethical dilemmas EXCEPT which ONE?

A. Society, through the legislative process
B. Individuals, through their personal values
C. Organisations, through codes of ethics for their staff to follow
D. Courts, through higher judicial precedents

Answer: D