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8. To determine whether a particular action is professionally ethical or not, using the Institute of Management Accountants Statement of Ethical Professional Practice, it is necessary to know:a. Whether the act is legal in your jurisdictionb.The intent and the business context of the actc.The amount of the fraud or theft that is involvedd.Whether the management accountant is certified or not10. The IMA ethical standard that requires the management accountant to mitigate conflicts of interest: a.Requires the management accountant to act with integrityb. Is not a part of the IMA Statement of Ethical Professional Practicec.Is necessary to ensure that the management accountant’s credibility is not impairedd.Is necessary to ensure that the management accountant does not violate the standard regarding confidentiality