CIMA Related Exams
BA4 Exam
Adam, Brian, Charles and David each held 25% of the issued share capital of ABCD Ltd. Adam has recently issued further shares to himself in order to increase his voting power. Which of the following is incorrect?
You are the manager of the finance function of a large engineering company According to IFAC's drivers of sustainable corporate success, which of the following would be a method by which you could improve the value of your department to the company?
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.