Which of the following statements is correct?

(i) The Articles of Association of a private company limited by shares may be altered by special resolution.

(ii) The Articles of Association of a private company limited by shares may be altered by a written resolution.

(iii) The Articles of Association of a private company limited by shares may be altered by an ordinary resolution.      

If a business trades as “Exe and Co (Office Furniture)” which of the following is CORRECT?

(i) The business could be owned by a partnership

(ii) The business could be owned by a sole trader

(iii) The business could be owned by a private company limited by shares

Which of the following is NOT one of the main requirements of the UK Corporate Governance Code?

A situation has arisen which will involve you participating in transactions which are legally correct but ethically unsound.

Which of the following is correct?

(i) It is not possible for a transaction to be both legal and ethically unsound.

(ii) As long as the transactions are legal you are acting properly in participating.

(iii) One of the purposes of ethical codes is to guide professionals as to how to behave even when the proposed transactions are legal.

Which ONE of the following statements is incorrect? Ethical standards are:

Which of the following is correct in relation to damages?

(i) The victim of a breach of contract may claim damages in respect of losses caused by the breach which were within the contemplation of the contract breaker.

(ii) As a general rule damages cannot be claimed for annoyance and inconvenience caused by the breach of contract.

(iii) Where there is a breach of contract, damages are available to the innocent party as of right.

Ethical dilemmas may be raised with a professional accountant via which of the following routes?

Lotl is a well-known supermarket chain that has recently come under fire for not encouraging diversity within the organisation.

Because of this, it has been making efforts to make the business more diverse.

Which of the following are ways Lotl might do this?

Select ALL that apply.

Which of the following remedies is not available for a breach of a contract to provide personal services?

Which ONE of the following is an example of a safeguard in the work environment as opposed to a safeguard created by the profession, legislation or regulation?

How does CIMA support its members in their continual personal improvement?

Exe Ltd contracted to manufacture and deliver machinery to Wye plc for a price of £100,000. As required by the contract, Wye plc paid a deposit to Exe Ltd of £20,000. In order to fulfil its contract it has been necessary for Exe Ltd to purchase specialist tools and equipment. Before the contract was completed, Exe Ltd ' s factory was destroyed by fire. Neither Exe Ltd nor Wye plc was in any way responsible for the fire.

Which of the following is INCORRECT? 

(i) The contract between Exe Ltd and Wye plc has become frustrated.

(ii) The contract may remain enforceable if the parties have agreed a force majeure clause which specifies the repercussions of a factory fire.

(iii) As the deposit was payable before the contract became unenforceable, Wye plc will lose its deposit of £20,000. 

Section 172 of the Companies Act 2006 provides that directors must promote the success of the company for the benefit of its members. Which of the following factors must be taken account of in complying with this duty? 

(i) The interests of the company ' s employees

(ii) The likely consequence of any decision in the long term

(iii) The impact of the company ' s operations on the community and the environment

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

An auditor would trace copies of sales invoices lo shipping documents in order to check for which of the following errors?