Final Answer:
A CMA is expected to live by a code of ethics promulgated by the IMA.
The statement is True.
Step-by-step explanation:
Certified Management Accountants (CMAs) are expected to adhere to a code of ethics established by the Institute of Management Accountants (IMA). This code of ethics sets forth principles and standards that guide the conduct and behavior of CMAs in their professional roles. Adhering to this code helps maintain integrity, confidentiality, credibility, and ethical standards in the practice of management accounting.