QUESTION: 161

When might an ethical dilemma occur?

When the boundaries between right and wrong are unclear
When the code of ethics does not specify what action to take
When an individual is under pressure to do something that does not feel right
All of the above

Answer(s): D

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QUESTION: 162

X owns 51% of the shares in X Ltd. Y and Z are the only directors of X Ltd. Which ONE of the following is CORRECT?

X can give directions to Y and Z by passing ordinary resolutions ordering them to comply with his wishes
X can dismiss Y and Z for any reason by using his majority vote
X can use his votes to amend the articles and impose new obligations on Y and Z
X can force Y and Z to declare a dividend

Answer(s): B

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The board of Wye Ltd has resolved to issue £100,000 of redeemable preference shares.
Which of the following is correct?

(i) The company must have issued at least one non-redeemable share.

(ii) The company must redeem them at not less than their nominal value.

(iii) A holder of a redeemable share must also hold at least one ordinary share in the company.

(i) only
(i) and (ii) only
(ii) and (iii) only
(i), (ii) and (iii)

Answer(s): B

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QUESTION: 164

H is hoping for a promotion. His wife is expecting a baby and they need the extra money. He needs to present the figures for his section, but the true figures do not reflect well on his manager. What should H do?

Present the true figures: his motivation should be to be honest
Present figures which reflect well on the manager: after all H needs his manager's approval to get the promotion
Present the figures which reflect well on the manager: H's family are more important
Present slightly amended figures: after all everybody does this, and H will still be popular with the rest of his section

Answer(s): A

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QUESTION: 164

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