Acca paper F1 fia diploma in Accounting and Business Accountant in Business (AB/fab) exam kit

SECTION 1 
K APLA N PUBLISH ING 
29 
126 
Consider the following two statements: 
(1) 
All ACCA members must comply with the Fundamental Principles, whether or not 
they are in practice. 
(2) 
Professionals owe an obligation to society as well as a duty to their client. 
Which of these two statements is/are correct? 
A (1) 
only 
B (2) 
only 
C Both 
D Neither
 (2 
marks) 
127 
Objectivity means that accountants must not be associated with any false or misleading 
statements. 
Is this statement TRUE or FALSE? 
A True 
B False 
(1 mark)
128 
Q is an employee in BBB Co. He has been offered a bribe by an existing supplier to continue 
buying a key component used in BBB’s manufacturing process from them, in spite of a new 
rival company offering the same component at a significantly lower price. 
Which of the following statements regarding Q’s decision is correct? 
A 
If Q is a egoist, he will most likely accept the bribe 
B 
If Q is a relativist, he would refuse the bribe as bribery is always wrong 
C 
If Q is a utilitarian, he would reject the bribe as it does not benefit all stakeholders 
D 
If Q is an absolutist, his decision would depend on the circumstances 
(2 marks)
129 Which of the following would be seen as a difference between a profession and an 
occupation? 
A 
An occupation is governed by a professional body 
B 
Members of a profession must comply with relevant legislation 
C 
To be classified as an occupation, members must follow an ethical code 
D 
Members of a profession must go through a process of certification 
(2 marks) 
130 B has uncovered fraudulent activity within the company she works for. Who should she