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Free BA4 Exam Braindumps (page: 51)

Page 50 of 126
PDF with 661 Questions

Which of the following would be paid last by a company which had been placed in insolvent liquidation?

  1. Outstanding loan capital and interest due to the holder of an unsecured debenture.
  2. Share capital invested by the shareholders.
  3. Fees owed to the directors
  4. Unpaid employees' wages

Answer(s): B



Which ONE of the following provides an example of circumstances that may create self- review threats for a professional accountant in public practice?

  1. The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice
  2. Reporting on the operation of financial systems after being involved in their design or implementation
  3. A member of the assurance team being, or having recently been, a director or officer of that client
  4. All of the above

Answer(s): D



You are at a conference. The finance director of one of your competitors is boasting about top secret plans that she says will give her company market dominance. As she walks into a conference session, she accidently drops a folder marked "private and confidential". No one else notices and you are left alone in the room with the folder. Which of the following would be an ethical course of action and why?

  1. Read the contents in the hope that you can help your company by preventing your competitor's plans
  2. Read the contents in order to teach the arrogant finance director a lesson
  3. Return the folder to your competitor unopened because this is what you would hope

    would be done if you were in her situation
  4. Give the folder to a journalist friend at the conference because it is in the public interest to expose the company's plans

Answer(s): C



Which of the following is correct in relation to financial assistance for the purchase of its own shares provided by a private company?

  1. Financial assistance is a criminal offence on the part of the company
  2. The directors may be fined if they allow the company to provide financial assistance
  3. In general the existing prohibition has been removed for private companies
  4. Financial assistance cannot be used where a majority shareholder is retiring

Answer(s): C






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