Question: Ethical conduct and professional judgment each play important roles in the accounting process. a. In general, terms, explain why it is important to society that

Ethical conduct and professional judgment each play important roles in the accounting process.

a. In general, terms, explain why it is important to society that people who prepare accounting information act in an ethical manner.

b. Identify at least three areas in which accountants must exercise professional judgment, rather than merely relying on written rules.


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