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In relation to business names which of the following is CORRECT?
(i) Any business may trade under a business name.
(ii) If a business name is used the name of the owner of the business must be disclosed.
(iii) The business name of a private limited company must end with the word “Limited” or “Ltd”.
A company wants to let its employees know that fraud will not be tolerated. It also wants to inform them of the consequences of committing fraud.
Which of the following would best achieve this?
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.
Which ONE of the following was NOT a recommendation of the Cadbury Committee Report 1992?
Demonstrating an attitude of esteem, deference, regard or admiration of others reflects the personal quality identified by the CIMA Code of Ethics as:
Which of the following statements is correct?
(i) In the event of a conflict between English Law and European Law, English Law prevails.
(ii) The Supreme Court is the highest court in the United Kingdom.
(iii) The High Court is bound by a ratio decidendi of the Supreme Court.
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.
Maintaining professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service demonstrates the CIMA Code of Ethics fundamental principle of:
S Ltd has an issued share capital of 1000 ordinary shares of £1 each. Some of the shareholders would like to change the name of the company. What is the minimum number of votes which must be cast in favor of the resolution to make it effective?
Y is completing an internal audit work on the system to approve suppliers to JKL Company. Which of the following would NOT promote a sustainable approach to the company ' s relationship with it\suppliers?
Acting diligently and in accordance with applicable technical and professional standards demonstrates the CIMA Code of Ethics fundamental principle of:
In resolving an ethical dilemma, which of the following would NOT be a useful approach to take when focusing on finding an ethical solution?
Which of the following requires the approval of 75% of all the company ' s shareholders who are entitled to vote?
Jo is employed as management accountant of a large retailer. Jo has been asked to call a supplier and promise settlement of their account ' next week ' . Jo is aware that her employer will definitely not have sufficient funds available to make the payment. If Jo accepts the request, which of the following ' fundamental principles ' of CIMA ' s Code of Ethics will be compromised?
Which of the following is correct?
(i) All courts below the Supreme Court may refer a case involving European Law to the European Court of Justice for a preliminary ruling.
(ii) The Supreme Court must refer a case involving European Law to the European Court of Justice for a preliminary ruling.
(iii) An English court is not bound to give effect to a preliminary ruling of the European Court of Justice.
Louis is the only director in MNO Ltd. Max, Nick and Olga each hold one third of the issued share capital of the company. Louis has proposed an amendment to the company ' s Articles of Association. Which of the following is correct?
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 "
Wye Ltd has ordered goods from ABC plc and the directors of Wye Ltd have guaranteed that Wye Ltd will pay the agreed sum within one month of the delivery of the goods.
Which of the following is correct?
(i) The contract is between Wye Ltd and ABC plc and the directors cannot be forced to pay the amount due in any circumstances.
(ii) A contract of guarantee is only enforceable if it is evidenced in writing.
(iii) The directors of Wye Ltd can be forced to honor the guarantee in the event of Wye Ltd not paying the amount due.
F knows from preparing the accounts that the company she works for is going to have to make redundancies due to the recession. She also knows that, despite the recession, the Managing Director continues to enjoy lavish perks and even uses a private jet. What should she do?
B Ltd has an issued share capital of 1,000 ordinary £1 shares. The board of B Ltd has resolved to alter the company ' s articles of association. Which of the following is correct?
(i) The articles may be altered by board resolution.
(ii) The articles may be altered by a written resolution of the shareholders.
(iii) The articles may be altered by a special resolution of the directors.
According to the CIMA Code of Ethics, a professional accountant should not be associated with reports, returns, communications or other information where they believe that the information:
Which one of the following reasons is not automatically an unfair reason for dismissal?
Which of the following is correct?
(i) A contract of guarantee is unenforceable unless it is evidenced in writing.
(ii) A contract to sell land must be in writing.
(iii) A contract of employment must be in writing.
You work for a clothing retailer. Which of the following corporate issues is NOT related to ethics or social responsibility?
S is management accountant for a small retail company. The company ' s financial year is due to end in a few weeks. The company is making losses and S is concerned that it may become short of funds in the next few months. The Finance Director has told S that the Board is aware of the problem, so no further action is required from S.
Which ONE of the following would it be appropriate for S to do?
Which of the following is correct?
(i) The first directors are appointed upon the incorporation of the company.
(ii) A director is a person who occupies the position of director by whatever name called.
(iii) A shadow director is a person in accordance with whose directions or instructions the directors of the company are accustomed to act.
An external auditor has concluded that the financial statements of a company fairly reflect the financial position of a company. The report which the auditor issues will include which of the following?
1. Details of the company ' s directors
2. Details of managements ' responsibilities.
3. Details of the company ' s performance.
Brian is the registered owner of 500 shares in Exe Ltd. Which of the following statements is correct?
Which of the following would be regarded as an issue of shares for an improper purpose?
(i) An issue of shares to enable the directors to maintain control of the board.
(ii) An issue of shares to prevent a take-over bid.
(iii) An issue of shares in return for a non-cash consideration.
The Remuneration Committee is recognised as a board sub-committee under the Corporate Governance Code Which of the following are objectives of the Remuneration Committee?
1. The Committee should be, and should be seen to be, independent with access to its own external advice or consultants
2 The Committee is required to establish and agree pension provision for all board members
3. The Committee ' s reporting is clear, concise and gives the reader of the annual report a bird ' s eye view of policy payments and the rationale behind
them
Section 13 of the Sale of Goods Act 1979 implies a condition into contracts for the sale of goods that the goods supplied will correspond to the description. What remedies are available to the innocent buyer in the event of a breach of Section 13?
Which of the following are not owed duties by the directors?
(i) The company as whole.
(ii) Individual shareholders.
(iii) All the present and future shareholders.
Which of the following is NOT one of the ' seven principles of public life ' , as defined by the Committee of Standards in Public Life?
Which of the following would comply with best practice in accordance with the UK Corporate Governance Code in relation to Board conduct?
What is the legal meaning of the word “simple” in the expression “valid simple contract”?
Which of the following causes a charge to be void?
(i) A failure to register the charge at Companies House within 21 days of its creation.
(ii) A failure to register the charge at the company ' s registered office.
(iii) The issue of a charge to secure borrowing which is outside the directors ' authority
S contracted to buy a portable television from AB (Retailers) Ltd. The contract contained a term excluding liability for any breach of the condition implied by the Sale of Goods Act 1979 that the goods should be of " satisfactory quality " .
Which of the following is correct?
(i) It is a criminal offence to attempt to exclude the term as this is a consumer sale.
(ii) The clause is void unless it can be shown to be reasonable.
(iii) The clause is void.
Which one of the following is NOT one of the fundamental principles of CIMA ' s Code of Ethics?
Zed plc contracted to build an apartment block for Exe Ltd. Which of the following would provide Zed with a valid excuse not to proceed with the contract?
(i) A key employee who was to manage the project has resigned.
(ii) The price of the materials to be used by Zed plc have increased to such an extent that the building can only be completed at a loss to Zed plc.
(iii) Planning permission has been refused.
One of your colleagues has just been poached by a competitor. You have reason to suspect that he has provided his new employer with sensitive information about your company that could disadvantage your employer. This affects the CIMA Code of Ethics fundamental principle of:
How can a company help employees make the right decision when faced with a difficult situation?
Tee Ltd placed some computers in its shop window with a notice which reaD. " Special offer. Internet-ready computers for sale at £400. "
Which of the following is correct?
(i) The notice amounts to an invitation to treat.
(ii) When a customer called in to the shop and offered £350 for one of the computers, he had made a counter offer.
(iii) The shop is obliged to sell a computer to anyone who can pay the price.
Which of the following are primary sources of Shari ' ah law?
(i) The Sunnah
(ii) The Qur ' an
(iii) Rules agreed unanimously by the disciples of Mohammad
Which of the following is not financial assistance for the purchase of a public company ' s own shares?
Which of the following is NOT one of the fundamental principles of CIMA ' s Code of Ethics?
Regarding auditor remuneration, a self-interest threat to professional competence and due care is created if
Agency theory is often cited as an explanation for the development of corporate governance Which TWO of the following statements are correct?
Which of the following types of committee is NOT required by the UK Corporate Governance Code?
Which of the following is correct in relation to the control of boards of directors of public limited companies?
i. The boards of public limited companies are under the legal control of the shareholders
ii. The majority of the shares in public limited companies are held by institutional investors who are more concerned with capital growth and income than the internal management of public limited companies
iii. As a general rule, private investors in the shares of public limited companies have insufficient power to influence the activities of the board.
Which of the following remedies is not available for a breach of a contract to provide personal services?
Charles is one of the three directors of Cee Ltd. The company has recently agreed to purchase Charles ' house at its market value of £250,000. Which of the following is correct?
Being straightforward and honest in all professional and business relationships demonstrates the CIMA Code of Ethics fundamental principle of:
Which of the following is correct?
(i) The Court of Appeal is bound by obiter dicta of the Supreme Court.
(ii) The High Court is bound by a Supreme Court ratio decidendi.
(iii) A ratio decidendi of the Court of Appeal is binding on the High Court.
Which of the following is a civil action?
i. An action by a local authority against a restaurant for selling impure food.
ii. An action by a taxpayer against Her Majesty ' s Revenue and Customs (“HMRC”) in relation to an expenses claim which has been refused by the Inspector of Taxes.
iii. An action by Exe Ltd against Zed Ltd for supplying equipment which was found to be dangerous.
A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest Therefore:
Wye has borrowed £10,000 from Exe and the loan has now become repayable in full. Exe has received a cheque from Wye for £9,000 stated to be “in full and final settlement of the loan.” What is the position if Exe cashes the cheque?
(i) Exe will have accepted £9,000 in full and final settlement and will not be able to claim the other £1,000 from Wye.
(ii) Exe is legally entitled to cash the cheque and pursue Wye for the balance of £1,000.
(iii) Exe will have accepted £9,000, but at law payment of less than the amount due cannot satisfy the full debt.
Which of the following remedies is available as of right in the event of a breach of contract?
(i) Specific performance.
(ii) Damages.
(iii) An injunction.
Which of the following is correct in relation to Section 14 of the Sale of Goods Act 1979 which implies a term into contracts for the sale of goods that the goods supplied will be of “satisfactory quality.”
(i) A breach of Section 14 enables the innocent buyer to cancel the contract and claim damages.
(ii) The parties to a contract for the sale of goods can choose to exclude Section 14.
(iii) Section 14 applies to contracts for the sale of new goods only and does not apply to sales of second-hand goods
Which of the following does NOT discharge a contract?
(i) Self-induced frustration.
(ii) Performance of the parties ' obligations under the contract apart from minor defects
(iii) The insolvency of one of the parties making it impossible for him to pay the contract price.
Which of the following courses of action is NOT part of the process that the CIMA Code of Ethics expects of professional accountants in resolving an ethical conflict?
Which of the following is correct?
(i) A liquidated damages clause will be void if it amounts to a penalty clause.
(ii) A liquidated damages clause will apply where it is a genuine attempt to pre-estimate the loss caused by a breach of contract.
(iii) A liquidated damages clause is void if it is for an amount in excess of the actual loss caused by the breach of contract.
Which THREE of the following may be external stakeholders in the activities of a nuclear power station?
Which of the following is NOT one of the main requirements of the UK Corporate Governance Code?
A advertised his van for sale in the local newspaper at a price of £5,000.
In which of the following situations is a contract between A and B created?
What can companies do in order to minimize the likelihood of future legislation?
Exe Ltd includes the following provisions in its Articles of Association. If Exe Ltd acted in breach of these clauses, identify which would not be enforceable against the company as a breach of contract.
D is the chief executive of a UK-based mining company which has operations across the world and, in some countries, employs children. Child workers are only permitted to undertake certain tasks that are deemed to be safe and not physically demanding. Endorsed by his board of directors, D argues that it is better for children in poor countries to have the option of fairly paid work than to risk starvation or be forced into prostitution or criminality. A national newspaper publishes the story and gets an unprecedented number of UK voters to sign a petition for government to intervene and stop these practices. This is an example of a tension between:
Which THREE of the following are characteristics of Limited Liability Partnerships ( " LLPs " )?
The articles of association of Zed Ltd provide that Z is to be an executive director for life. Zed is also a shareholder in the company.
Which ONE of the following is CORRECT?
Which of the following statements is correct?
(i) A term may be implied into a contract by statute.
(ii) A term may be implied into a contract on the ground that it is a trade custom.
(iii) A term may be implied into a contract by a court in order to give the agreement " business efficacy " .
Which of the following need to be proved in order for there to be a misrepresentation? Select ALL that apply.
If a claim for unfair dismissal is successful, which of the following orders can be made by an employment tribunal?
i. re-instatement
ii. re-engagement
iii. compensation
Which of the following is NOT a correct distinction between shares and debentures?
Which of the following does a professional accountant NOT have a duty to stay up to date on?
Which TWO of the following are examples of safeguards that may increase the likelihood of identifying or deterring unethical behavior?
Maintaining professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service demonstrates the CIMA Code of Ethics fundamental principle of:
S is assistant management accountant for a large telecommunications company. S has become aware that the company is offering different levels of discount to different corporate customers. S is concerned that this is unethical, so she mentioned it to the Finance Director during her most recent appraisal. The Director seemed amused at S ' s concern, and said that such a situation was ' perfectly normal ' .
Which ONE of the following would it be appropriate for S to do?
Miss B is working closely with Mr L to deliver an important report on the efficiency of Mr L ' s department. They have had to work late together several times, and last night they went out to dinner afterwards. Miss B is starting to think she may have feelings for Mr L. Could her independence be called into question?
In which THREE of the following situations might professional accountants be required or permitted to disclose confidential information relating to their employer?
One of the fellow accountants in your office thinks that she is intellectually superior to the rest of you. This has made her complacent and she refuses to attend training courses or ongoing professional development. As a result, she may be failing to adhere to the CIMA Code of Ethics fundamental principle of:
In relation to the law of misrepresentation, which of the following statements is incorrect?
Which of the following is correct?
(i) Purchasing a " shelf company " enables business to commence more quickly.
(ii) It is generally cheaper to purchase a " shelf company " , than to arrange for a solicitor or accountant to register a new company.
(iii) Incorporating a company by registration enables the company ' s documents to be drafted to the particular needs of the incorporators.
Which ONE of the following statements is correct in relation to the UK Corporate Governance Code?
Which of the following does the CIMA Code of Ethics fundamental principle of integrity NOT involve?
While working as an accountant, you are asked to overlook certain irregularities in your company ' s accounts. This is likely to result in tensions described by which TWO of the following four options:
Advocacy threats to compliance with fundamental principles are described as threats that may occur
Which of the following is INCORRECT in relation to Shari ' ah law?
i. Shari ' ah law is intended to provide for a person ' s spiritual well-being but is not concerned with secular matters.
ii. The Sunnah is one of the primary sources of Shar ' iah law.
iii. The salat (daily prayers) is one of the Five Pillars of Islam.
Which of the following terms can be defined as follows?
" ...the way an organization manages its relationships "
Which of the ' fundamental principles ' of CIMA ' s Code of Ethics is defined as follows?
" A professional accountant should comply with relevant laws and regulations and should avoid any action that discredits the profession "
B agreed in his contract that he would not work for a competitor of Gee Ltd for a period of 12 months after leaving the company ' s employment. On leaving Gee Ltd, B worked for Zed Ltd, a competitor of Gee Ltd. If the restriction in B ' s contract with Gee Ltd should be found to be reasonable, which of the following remedies is Gee Ltd entitled to?
(i) A decree of specific performance forcing B to comply with his contract with Gee Ltd.
(ii) Damages in respect of any loss caused by B ' s breach of contract.
(iii) An injunction to stop B working for Zed Ltd.
Which of the following best describes " independence of mind " as referred to in CIMA ' s Code of Ethics
Which of the following statements are correct in relation to an offer?
1. An offer may be made to the whole world
2. An offer cannot be withdrawn until the offeree has had the opportunity of accepting or rejecting the offer.
3. An item in a shop window marked " Special Offer " is not an offer in law.
Which of the following is INCORRECT in relation to a claim for wrongful dismissal?
Which of the following statements is correct in relation to equity?
(i) Equity was developed by the Court of Chancery
(ii) Equitable maxims were developed by lawyers
(iii) In the event of a conflict between equity and the common law, equity prevails
The International Accounting Education Standards Board has published a document titled " Approaches to the Development and Maintenance of Professional Values, Ethics and Attitudes in Accounting Education Programs ' " , which provides guidance about the personal qualities needed by accountants to meet the expectations of the public
The particular qualities which it identifies are
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?
Which of the following statements refer to the remuneration committee? Select ALL that apply.
Which ONE of the following requires the approval of a simple majority of all the company’s shareholders who are entitled to vote?
Demonstrating politeness and good manners towards others reflects the personal quality identified by the CIMA Code of Ethics as:
Which of the following are benefits a company might gain from having NEDs on their audit committee? Select ALL that apply.
P contracted to buy a computer from CD (Retailers) Ltd. The contract contained a term excluding liability for any breach of the condition implied by the Sale of Goods Act 1979 that the goods should be of " satisfactory quality " .
Which of the following is correct?
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.
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?
Which of the following is presumed not to be intended to create legal relations?
A situation has arisen which will involve you participating in transactions which are legally correct but ethically unsound.
Which of the following is correct?
(i) It is not possible for a transaction to be both legal and ethically unsound.
(ii) As long as the transactions are legal you are acting properly in participating.
(iii) One of the purposes of ethical codes is to guide professionals as to how to behave even when the proposed transactions are legal.
Which of the following is correct in relation to a company ' s ability to contract where the company was registered after the Companies Act 2006 was fully implemented?
Which of the following are listed among the IFAC ' s drivers for sustainable organisational success?
Select ALL that apply.
In the UK, the body responsible for reviewing the regulatory activities of the professional accountancy bodies is:
Which of the following statements is INCORRECT?
i. A contract is a voluntary agreement whereas obligations in the tort of negligence are imposed by the state.
ii. Damages are only available for breach of contract and breach of the tort of negligence if damage, injury or loss has been suffered by the claimant.
iii. A contract breaker is liable whether or not he is at fault whereas to be liable in the tort of negligence the defendant must have been at fault.
Exe Ltd was under contract to deliver goods by road to London for Wye Ltd for £2,000. After part of the journey was completed the lorry broke down and Wye Ltd was forced to arrange for Zed Ltd to complete the delivery. Subject to the contract not providing for this situation, which of the following is correct?
Which of the ' fundamental principles ' of CIMA ' s Code of Ethics is defined as follows?
" A professional accountant should be straightforward and honest in all professional and business relationships "
ABC plc has acted in breach of its health and safety obligations and this has led to a number of employees and members of the public being injured.
Which of the following is correct?
The breach could give rise to:
i. Civil claims on the part of the employees and members of the public
ii. Enforcement action by the Health and Safety Executive
iii. Criminal sanctions against ABC plc
Which of the following are examples of an invitation to treat? Select ALL that apply.
Which of the following is INCORRECT in relation to an alteration of a company’s articles of association?
Which of the following is NOT one of the fundamental principles of CIMA ' s Code of Ethics?
X is in the process of setting up a private company limited by shares X is considering including certain provisions in the articles of association. Which of the following provisions would be enforceable by and against the company?
1 Dividend rights of the members
2. Terms relating to bonuses of directors
3. Payment terms of suppliers.
Which of the following is incorrect in relation to the remedy of liquidated damages?
In the event of a conflict between European Law and French Law which will prevail?
Which of the ' fundamental principles ' of CIMA ' s Code of Ethics is defined as follows?
" A professional accountant should comply with the relevant laws and regulations and should avoid any action that discredits the profession "
Which of the following is one of the fundamental principles identified in the CIMA Code of Ethics?
You work for a company based in a capital city that leases office space to other organizations. Which of the following corporate issues is not related to ethics or social responsibility?
Which of the following statements is incorrect?
(i) A term may be implied into a contract on the basis of previous dealings between the parties.
(ii) A term may be implied into a contract by statute.
(iii) A term may be implied into a contract by a court where it would be reasonable to imply it.
As a member of the audit team of a large company, J has discovered that one of his close friends is in a part of the business which is going to be sold off, and his friend is likely to face redundancy. What should he do?
The directors of Zed Ltd issued a number of shares to their supporters, so that they would vote against a takeover bid by Exe Ltd.
Which of the following statements is INCORRECT?
Which ONE of the following business organizations could be used by Tom to carry on a business consultancy on his own account?
(i) A private company limited by shares
(ii) A sole tradership.
(iii) A limited liability partnership
Which of the following does NOT describe the responsibilities of the audit committee?
C is a professional accountant He encounters an ethical dilemma in his role and wishes to seek help in resolving it. Which of the following would NOT be an appropriate source of advice?
Exe Ltd contracted to manufacture and deliver machinery to Wye plc for a price of £100,000. As required by the contract, Wye plc paid a deposit to Exe Ltd of £20,000. In order to fulfil its contract it has been necessary for Exe Ltd to purchase specialist tools and equipment. Before the contract was completed, Exe Ltd ' s factory was destroyed by fire. Neither Exe Ltd nor Wye plc was in any way responsible for the fire.
Which of the following is INCORRECT?
(i) The contract between Exe Ltd and Wye plc has become frustrated.
(ii) The contract may remain enforceable if the parties have agreed a force majeure clause which specifies the repercussions of a factory fire.
(iii) As the deposit was payable before the contract became unenforceable, Wye plc will lose its deposit of £20,000.
Members of the accountancy profession are expected to demonstrate certain personal qualities and virtues such as ' respect '
Which of the following is an example of the demonstration of the virtue of respect?
The distinction between an employee and an independent contractor is important because only an employee:
i. is given statutory protection in relation to employment rights.
ii. is subject to the deduction of income tax and national insurance under the PAYE system.
iii. can make the employer vicariously liable for his/her torts.
In relation to conditions and warranties, which of the following statements is correct?
CIMA ' s report on ' Practical Proposals to Improve Corporate Governance Disclosure ' explores a range of ideas Which of the following statements is correct?
On the basis of the National Minimum Wages Act 1998, what is the age range for the lowest national minimum wage entitlement?
A Ltd contracted to deliver a quantity of goods to B Ltd for £5,000. The goods were delivered and A Ltd submitted an invoice to B Ltd for the amount due which contained a number of new terms. Which of the following is incorrect?
Danny holds 1%, Edward 2% and Fozia 3% of the issued share capital of Vee Ltd. Which of these shareholders, acting alone or together, hold the minimum percentage to entitle them to require the company to circulate a written statement of their views to all those entitled to receive notice of the forthcoming annual general meeting?
Which of the following groups is a non-financial as opposed to a financial stakeholder of a company?
Being accountable for one ' s actions and decisions reflects the personal quality identified by the CIMA Code of Ethics as:
In which country are accountants legally required to speak up about certain ethical concerns?
The UK Corporate Governance Code is primarily directed at which type of business organization?
How can values become part of a company ' s DNA? Choose TWO of the following options.
Which of the following is an advantage of carrying on a business through the medium of a private company limited by shares?
GHI Ltd has contracted with JKL Ltd. If JKL Ltd acts in breach of a condition, which of the following is correct?
According to the CIMA Code of Ethics, which of the following categories describe common threats to compliance with the fundamental principles? Please select all that apply.
Which of the following terms can be defined as follows?
" ...the generic way that organizations are run "
How might an organization exercise ethical control over its staff? Select ALL that apply.
Which of the following is correct in relation to the UK Corporate Governance Code?
(i) The Code gives rise to a disclosure requirement
(ii) Breach of the Code gives rise to criminal penalties
(iii) Breach of the Code gives rise to civil liability
Timmy has just taken over as the managing director of a well-known manufacturing company.
He really wants to do a good job an ensure that the company maintains its positive reputation.
Baring in mind the five key principles of corporate governance, which of the following should Timmy do to ensure he does a good job?
Select ALL that apply.
Which of the following is CORRECT in relation to a Limited Liability Partnership (“LLP”)?
(i) An LLP is formed by registration with the Registrar of Companies
(ii) Unlike the articles of a company the internal rules of an LLP are not available for public inspection
(iii) An LLP is liable to pay corporation tax on its profits
An internal auditor discovered evidence of a fraud earned out by an employee who worked in the accounting department. The auditor concluded that the fraud had been possible because of unsatisfactory segregation of duties in the department.
Poor segregation between which of the following duties would provide the best opportunity for this type of fraud to occur?
Which of the following are situations in which the accountant is permitted to disclose confidential information?
Select ALL that apply.
Which of the following is NOT an essential element of a valid simple contract?
Which of the following is CORRECT in relation to an alteration of a company’s articles of association?
(i) A copy of the resolution and the amended articles must be filed with the Registrar of Companies within 15 days of the date of the resolution.
(ii) The articles of association may be amended by an ordinary resolution with special notice.
(iii) An alteration of the articles cannot discriminate between the majority and minority shareholders.
Which of the following requires the approval of a simple majority of all the company ' s shareholders who are entitled to vote?
P is an accountant working in a business Which of the following circumstances might create a self-interest threat for P in her professional role?
TESTED 01 May 2026