CIMA Certificate BA4 Exam Dumps

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

Question 33

Which of the following must an internal audit satisfy in order to be deemed independent? Select ALL that apply.

Options:

The head of the audit must report to a high level within the organisation.

The internal audit activity must be free from interference.

The head of the internal audit must communicate and interact directly with the board of directors.

Any problems identified during the audit should be reported.

Action plans should be negotiated with management in order to address any identified problems.

Question 34

Which of the following statements is incorrect?

Options:

A person who signs a contract is deemed to have read it.

A person is assumed to know of a term of which he has been given reasonable notice at or before the time of the contract.

A person seeking to rely upon an onerous clause must show that he has taken sufficient steps to bring the clause to the other party's attention.

A person cannot be bound by an onerous clause.

Question 35

Which of the following is correct?

i. A company intending to issue new shares for cash must first offer them to the existing shareholders.

ii. A company may dispense with the requirement to offer new shares to existing shareholders by passing a special resolution.

iii. A company issuing shares for a non-cash consideration is not required to offer the shares to the existing members first.

Options:

(i) only

(ii) only

(ii) and (iii) only

(i), (ii) and (iii)

Question 36

In a situation where a professional accountant needs to choose in whose interest he or she is to behave and act, which of the following interests should he or she put first?

Options:

Employer's interest

Client's interest

CIMA's interest

Public interest

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

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