Which of the following statements is correct in relation to the ability of a company to contract?
In relation to directors, which of the following statements is incorrect?
Which of the following are reasons why regulatory frameworks may differ between countries: Select ALL that apply.
Badger has just been offered a job after completing a series of long interviews.
Which of the following would legally form the employment contract between him and his employer:
The IFAC Code of Ethics applies:
A, B C and D are sole directors and shareholders of EFG Company each holding 25% of the shares in the company. The articles of association
of EFG Company state that "the directors cannot enter into any contract on behalf of the company exceeding $30,000 without the agreement of all the shareholders’’.
B contracted on behalf of the company for $40,000 with Y Company without the agreement of the other shareholders. Which of the following is correct?
1. Y Company may enforce the contract against EFG Company
2. A, C and D may obtain an injunction to stop the contract being canted out
3. B may be liable to EFG Company for breach of duty.
Which of the following is a common law remedy?
Which of the following statements are correct in relation to the purpose of the OECD principles of corporate governance?
1. The principles are regarded by OECD members as representing a common basis essential for the development of good corporate governance practice
2. The principles are intended to be a substitute for individual government's proposals for governance best practice.
3. The principles are intended for the use of OECD members only.
Which of the 'fundamental principles' of CIMA's Code of Ethics is defined as follows?
"A professional accountant should not allow bias, conflict of interest or undue influence of others to override professional or business judgments"
In a situation where a professional accountant needs to choose in whose interest he or she is to behave and act, which of the following interests should he or she put first?
M's client has asked her to 'leave out' a few figures as he is applying for a bank loan and he wants his management accounts to, in his words, 'look better'. If M does as he asks, he promises to pay her double her fee when the loan money comes through. M is tempted by his offer, her mother has been ill and she would love to take her away on holiday. What should she do?
A business that has an internal ethical code is likely to experience which of the following benefits? Select ALL that apply.
In which country are accountants legally required to speak up about certain ethical concerns?
Which of the following statements is correct in relation to business organisations?
You work for a manufacturing company and are told that one of the line managers made a genuine mistake that led to the discharge of waste material into a local river. Your managing director says that the company cannot afford a large fine and demands that no one reports the waste spillage or mentions it again. Is this an ethical issue and why?
