Name the four areas in which standards of ethical conduct exist for management accountants in the United States. What organization sets forth these standards?
A. (1) Competence, (2) Confidentiality, (3) Integrity, and (4) Credibility. These standards are set by the Institute of Management Accountants (IMA).
B. (1) Honesty, (2) Fairness, (3) Integrity, and (4) Objectivity. These standards are set by the Council of Management Accountants (CMA).
C. (1) Competence, (2) Confidentiality, (3) Honesty, and (4) Fairness. These standards are set by Generally Accepted Auditing Standards (GAAS).
D. (1) Honesty, (2) Fairness, (3) Objectivity, and (4) Responsibility. These standards are set by the Institute of Management Accountants (IMA).

1. Competence: It reflects the capability of a person whether a person is capable of doing something or not. It has sound knowledge in a particular field or not.

2. Confidentiality: In this standard, the person should be confident and if any important information is available which can change the decision of a person has a responsibility to disclose it

3. Integrity: In this standard, the person should do ethical conduct only and prohibited any unethical conduct

4. Credibility: This standard use when the person has to communicate the information to other stakeholders which contain only accurate and fairly information. It restricts any mislead information.