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Which of the following is correct?

(i) The provisions of the Memorandum of Association do not form a contract between the members and the company.

(ii) The provisions of the Articles of Association form a contract between the members and the company.

(iii)      One member may sue another directly on the provisions in the Articles of Association which contain ordinary membership rights.

A.

(i) only

B.

(ii) only

C.

(i) and (ii) only

D.

(ii) and (iii) only

Which of the following terms can be defined as follows?

 

"...the way an organization manages its relationships"

A.

Ethics

B.

Social responsibility

C.

Corporate governance

D.

Professional behavior

An auditor would trace copies of sales invoices lo shipping documents in order to check for which of the following errors?

A.

Goods which have been invoiced have not been sent to customers

B.

Goods which were sent to customers have not been recorded in the individual customer's ledger account

C.

Goods which have been invoiced have not been recorded in the sales ledger.

D.

Goods sent to customers have not been invoiced

Which of the following is correct in relation to a company's ability to have a restricted objects clause in its constitution?

(i) A company may restrict its objects in its constitution

(ii) Any clause restricting the company's objects should be included in the company's articles of association

(iii) The shareholders may pass a special resolution to alter the company's constitution by including a clause which restricts the company's objects

A.

(i) only

B.

(ii) only

C.

(i) and (ii) only

D.

(i), (ii) and (iii)

Which of the following statements are correct in relation to a misrepresentation?

1. A misrepresentation is a false statement of fact or law but not a mere expression of opinion by someone having no expertise in the subject matter of the contract

2. A misrepresentation renders a contract voidable

3. As a general rule silence can amount to a misrepresentation.

A.

1 only

B.

1 and 2 only

C.

2 only

D.

2 and 3 only

According to CIMA, governance and social responsibility policies are:

A.

Not related to an organization's code of ethics

B.

In conflict with an organization's values

C.

Rooted in an organization's values and code of ethics

D.

Not related to each other

Which of the following statements is correct?

(i) An employer may rely on information discovered after an employee's dismissal to justify a wrongful dismissal.

(ii) An employer may rely on information discovered after an employee's dismissal to justify an unfair dismissal.

(iii) An employment tribunal will take into account the employee's conduct when determining how much compensation for unfair dismissal to award.   

A.

(i) only

B.

(i) and (ii)

C.

(i) and (iii)

D.

(iii) only

Which of the following countries does not have a written constitution?

A.

The United Kingdom

B.

Poland

C.

Germany

D.

Italy

Which of the following best describes "independence of mind" as referred to in CIMA's Code of Ethics

A.

It separates a professional accountant from the rest of society

B.

It ensures a professional accountant always tries to avoid any action which discredits the profession.

C.

It permits the expression of a conclusion without being affected by influences that compromise professional judgement

D.

It ensures a professional accountant is straightforward and honest in all professional and business relationships

You work for a chain of coffee shops who are proud of their sustainable credentials and have used their claim to recycle all of their disposable cups as part of their brand identity. An audit has revealed that staff in one region (West) are mixing these cups into normal waste and sending them to landfill in spite of the ethical code of practice of the company

Which TWO of the following might explain why the code has failed to promote the desired behavior?

A.

The regional manager has been actively promoting expanded green programs through a Green West is Best initiative which has involved all store managers and teams in the West region

B.

The induction programmer for new staff has been recently updated and the section on recycling procedures has been inadvertently dropped. The initial staff training is done in the store through shadowing experienced staff for a month before any tasks are attempted unsupervised

C.

A recent focus on staff efficiency in the West region failed to reflect the time needed to sort the recycle waste from the normal waste at the end of the day. West store managers were rewarded for their recycle rates and these are published in a district league table each quarter.

D.

The regional manager of the West branch has not been checking on the recycling reports which would have highlighted this issue and so there have

been no adverse consequences to the staff concerned

E.

A recent focus on staff efficiency in the West region failed to reflect the time needed to sort the recycle waste from normal waste at the end of the day West store managers and teams were rewarded on efficiency and not recycle rates.

Which of the 'fundamental principles' of CIMA's Code of Ethics is defined as follows?

 

"A professional accountant should act diligently and in accordance with applicable technical and professional standards"

A.

Integrity

B.

Objectivity

C.

Professional competence and due care

D.

Professional behavior

Which TWO of the following are NOT directly relevant to a system of professional ethics?

A.

Religious morality

B.

Political morality

C.

Career development

D.

Personal friendships

E.

Family commitments

S is management accountant for a small retail company. S has discovered a possible fraud in the purchasing department. The manager of that department has told S that he is aware of the fraud and will 'deal with it'.

 

Which ONE of the following would it be appropriate for S to do?

A.

Nothing

B.

Advise a director of the company

C.

Ask for confirmation in writing from the manager

D.

Bring the matter to the attention of the police

E.

Ask for advice from the company's external auditors

Which of the following statements would amount to indirect discrimination in the workplace?

A.

Applicants for a motor mechanic s position are only considered if they are male

B.

All employees in the sales departments are required to be smartly dressed and clean shaven

C.

Only women are promoted in the employee counseling department

D.

Employee X is not considered for an excellence award because she raised a complaint about sexist comments on the factory floor

According to CIMA, which of the following are ways in which corporate governance reporting could be improved?

Select ALL that apply.

A.

Make better use of the Chairman's message.

B.

Widen the remit of the governance report.

C.

Ensure that compliance reporting is separate from governance reporting.

D.

Ensure that there is a dialogue between the business and its shareholders.

E.

Ensure company boards use their AGM to communicate with investors and encourage their participation.