Final answer:
The ethical standard that assigns a cost accountant the responsibility to perform professional duties in accordance with relevant laws, regulations, and technical standards is competence.
Step-by-step explanation:
The ethical standard that assigns a cost accountant the responsibility to perform professional duties in accordance with relevant laws, regulations, and technical standards is competence. Competence refers to the accountant's ability to possess the necessary knowledge and skills to carry out their duties effectively and in compliance with the established guidelines. This includes staying updated with the latest laws, regulations, and technical practices in the field of cost accounting.