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BA4 Exam Dumps : Fundamentals of Ethics, Corporate Governance and Business Law

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Fundamentals of Ethics, Corporate Governance and Business Law Questions and Answers

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Question 1

Which of the following is correct? 

(i) A decision of the Supreme Court is binding on all lower courts which are called upon to decide a case based on similar material facts.

(ii) If there is a conflict between European Law and English law, European Law prevails.

(iii) Parliament may delegate authority to the government to make law.

Options:

A.

(i) only

B.

(i) and (ii) only

C.

(ii) and (iii) only

D.

(i), (ii) and (iii).

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Question 2

The majority of developed countries require publicly quoted companies and large companies to produce annual financial statements which are then audited by an external auditor.

Which of the following statements regarding the requirement for external audit is Incorrect?

Options:

A.

Independent external audit gives confidence in the financial statements which is required as the directors have incentives to manipulate the financial statements presented to the shareholders

B.

As the directors are responsible for the day-to-day management of the company, they hold more detailed information which is resolved by the presentation of financial statements to the shareholders and this needs to be guaranteed by independent external audit.

C.

Independent external audit gives confidence in the financial statements by including the auditor's opinion on whether or not they show a true and fair view.

D.

As the directors are responsible for the day-to-day management of the company, they hold more detailed information which is resolved by the presentation of financial statements to the shareholders and there is a need for this to be assured by independent external audit

Question 3

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.    

Options:

A.

(i) only

B.

(ii) only

C.

(i) and (ii) only

D.

(iii) only

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