What, according to CarlyFiorina, CEO of Hewlett Packard, is the spirit of a code of ethics:
Which of the following is NOT one of the 'seven principles of public life', as defined by the Committee of Standards in Public Life?
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 ONE of the following is NOT an essential element of the tort of negligence?
In the UK, the body responsible for taking an appropriate role in the development of statutes, regulations and accounting standards which affect the conduct of auditing and assurance services, both domestically and internationally is:
You work for a company that designs and manufactures children's toys. Which of the following is NOT an example of social responsibility that your company might choose to address?
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
In relation to directors, which of the following statements is incorrect?
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 resolutions of a private company limited by shares CANNOT be effected by using the written resolution procedure?
(i) An ordinary resolution to dismiss a director.
(ii) A special resolution to misapply statutory pre-emption rights in relation to a new issue of shares.
(iii) An alteration of the articles of association.
Which of the following is incorrect in relation to equitable remedies?
You work for a chain of restaurants. The head chef of your flagship restaurant raises questions about the inclusion of highly endangered species of fish on the restaurant's menu. Is it an ethical issue and why?
What is the legal meaning of the word “simple” in the expression “valid simple contract”?
R and P are the only shareholders in RP Ltd, each holding 100 ordinary £1 shares. They have both paid half the nominal value of the shares. The company has been placed in creditors' voluntary liquidation on the ground that it is unable to pay its debts.
Which of the following is correct?
You are happy to be held accountable for your actions and hope that others can trust and depend upon you. Which TWO of the personal qualities identified by the CIMA Code of Ethics does this demonstrate?
