Which of the items below is a guideline for behaving ethically? I. Identify the consequences of a decision and its effect on others. II. Consider your obligations and responsibilities to those affected by the decision. III. Identify your decision based on personal standards of honesty and fairness.

• A. I only
• B. II only
• C. III only
• D. I, II, and III

Answer: (D)

Ethical decision-making in accounting involves considering the impact on others, fulfilling duties to those affected, and acting with integrity. Identifying the consequences of a decision and its effect on others helps you anticipate harm or benefit to stakeholders and keep accountability at the forefront. Considering your obligations and responsibilities to those affected emphasizes duties to clients, employers, colleagues, the public, and the profession, ensuring you meet professional and societal expectations. Identifying your decision based on personal standards of honesty and fairness centers on integrity and impartiality, guiding you to do what is right even when it’s not the easiest path. Taken together, these three aspects cover the full range of ethical behavior, so the best choice is the one that includes all of them.