Which of the following is incorrect?
Which of the following are reasons why regulatory frameworks may differ between countries: Select ALL that apply.
Being straightforward and honest in all professional and business relationships demonstrates the CIMA Code of Ethics fundamental principle of:
Zed Bank plc has agreed to allow Exe Ltd an overdraft of £50,000 subject to a fixed and floating charge over almost all of the company's assets. In addition, the directors of Exe Ltd have been required to personally guarantee the overdraft.
Which of the following is correct?
(i) The directors could face bankruptcy if they are called upon to honour the guarantee.
(ii) In this case the directors do not enjoy limited liability as they are liable on the guarantee if the company cannot pay.
(iii) The directors could only be required to honor the guarantee if the company's assets proved insufficient to meet the overdraft.
To which of the following contracts does the Supply of Goods and Services Act 1982 apply?
(i) A contract with a joiner for the manufacture and supply of a cabinet.
(ii) A contract for the hire of a car.
(iii) A contract with a builder to construct an extension to a house.
Which of the following is presumed not to be intended to create legal relations?
Which of the following is INCORRECT in relation to a claim for wrongful dismissal?
In the UK the body responsible for establishing ethical standards relating to the independence, objectivity and integrity of those providing assurance services is:
Which of the following is incorrect?
(i) All contracts must be in writing.
(ii) A contract to sell land must be in writing.
(iii) A contract of employment must be in writing.
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 An offer cannot be withdrawn until the offeree has had the opportunity of accepting or rejecting the offer.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.
Who is responsible for identifying and managing fraud?
In 2011 Exe Bank plc granted a loan of £200,000 to Wye Ltd secured by a fixed charge over the company's land and a floating charge over all the company's other assets. Wye Ltd remains solvent but has now failed to meet its monthly repayments for three months.
Which of the following options are available to Exe Bank plc?
(i) Sue Wye Ltd for breach of contract.
(ii) Appoint an administrator
(iii) Petition for the compulsory winding up of Wye Ltd.
Where a countries' rules protect whistleblowers. they usually only do so where there has been a "qualifying disclosure" Which of the following statements best describes the minimum level of information which a whistleblower needs to have to make a "qualifying disclosure"?
As stated in the CIMA Code of Ethics, the two key attributes of independence used in connection with the assurance engagement are:
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:
