Accounting Gr12

Which of the following is a key principle of accounting ethics?

• Honesty

• Profitability

• Growth

• Competitiveness

Which ethical value is essential in accounting practices?

• Transparency

• Deceit

• Corruption

• Concealment

What is a fundamental aspect of accounting ethics?

• Confidentiality

• Disclosure

• Secrecy

• Revelation

What is the role of independent auditor

• To prioritize personal interests over professional duties

• To maintain objectivity and avoid conflicts of interest

• To disclose confidential information to competitors

• To manipulate financial data for personal gain

Which of the following best describes the role of internal and external auditors in ensuring ethical practices within a company?

• Internal auditors ensure compliance with legal regulations, while external auditors verify financial statements.

• External auditors prevent fraud, while internal auditors manage corporate social responsibility.

• Internal auditors focus on operational efficiency, while external auditors assess corporate governance.

• External auditors investigate financial irregularities, while internal auditors maintain ethical standards.

SAICA stands for:

• South African Institute of Cost and Accountants

• South African Institute of Chartered Accounts

• South African Institute of Chartered Architects

• South African Institute of Chartered Accountants

Which of the following is a direct way that a company can support its community through corporate social responsibility (CSR)?

• Donating funds to local charities

• Offering discounted products to employees

• Partnering with local schools or universities to offer mentorship programs.

• Providing grants or scholarships for community projects or education.

What are 2 ways you can have good internal control over your debtors?

What are 2 ways you can have good internal control over your stock?

Which is better a physical stock take or checking the books of the business?

• Physical

• Books