CIMA BA4 · Chapter 1 · Question 1 of 10
Which of the following best describes business ethics?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The application of moral principles and standards of right and wrong to business decisions and behaviour
Explanation
Business ethics concerns applying moral principles (what is right and wrong) to business conduct. Law sets a minimum standard of behaviour enforced by the state, but ethics often requires more than legal compliance. Wealth maximisation and attendance rules are business objectives or policies, not ethics as such.
More Business ethics and the role of the professional accountant MCQs
- Q3Why is ethical behaviour particularly important for professional accountants?
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- Q5Which of the following is a feature of a principles-based approach to professional ethics?
- Q6Which of the following personal qualities is most closely associated with 'professional scepticism'?
- Q7An accountant is described as having 'independence in appearance'. What does this mean?