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4
Fiduciary responsibility is a duty of faithful service. Is this true or false? 
5
Why might social responsibility have an adverse effect on shareholders' interests? 
6
One approach to managing ethics is to ensure primarily that the company acts within the letter of the 
law. What type of approach is this? 
A Compliance-based 
approach 
C Commercial-based 
approach 
B Integrity-based 
approach 
7
Tick true or false for the following. The fundamental principles of the ACCA Code of Ethics and Conduct 
are 
 True 
False 
Professional behaviour 
Confidentiality 
Social responsibility 
Objectivity 
Integrity 
Professional competence and due care 
 
 
 
QUICK QUIZ 
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CHAPTER 19
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ETHICAL CONSIDERATIONS 
 
509 
 
1
Moral principles, guide behaviour 
2
Code of Ethics or Code of Conduct 
3
(a) Reliability 
(d) Courtesy 
(b) Responsibility 
(e) Respect 
(c) Timeliness 
4
True. Fiduciary responsibility is the duty of faithful service.
5
Social responsibility action may:

Incur additional costs (for example, environmental monitoring) 

Decrease revenues (if, say, a company refused to supply to certain customers) 

 
Divert employee effort away from profitable activities 

Divert funds away from the business into social projects 
6
A 
The compliance-based approach is designed to ensure that the company acts within the letter of 
the law and that violations are prevented, detected and punished 
7
 True 
False 
Professional behaviour 

Confidentiality 

Social responsibility 

Objectivity 

Integrity 

Professional competence and due care 
