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Free BA4 Exam Braindumps (page: 65)

Page 64 of 126
PDF with 661 Questions

The body responsible for reviewing the accountancy profession worldwide is:

  1. The Professional Oversight Board for Accountancy
  2. The International Federation of Accountants
  3. The Financial Reporting Council
  4. The Financial Review Board

Answer(s): B



In the UK the body responsible for establishing ethical standards relating to the independence, objectivity and integrity of those providing assurance services is:

  1. The Professional Oversight Board for Accountancy
  2. The International Federation of Accountants
  3. The Financial Reporting Council
  4. The Auditing Practices Board

Answer(s): D



In the event of a breach of contract, what is the purpose of damages?

(i) To punish the contract breaker.

(ii) To compensate the innocent party.

(iii) To ensure that the innocent party makes a profit.

  1. (i) only
  2. (ii) only
  3. (i) and (iii) only
  4. (i), (ii) and (iii).

Answer(s): B



J and K are the only shareholders in JK Ltd, each holding 500 fully paid ordinary £1 shares. J is the company's only director and K the company secretary. The company has been placed in creditors' voluntary liquidation on the grounds that it is unable to pay its debts.

Which of the following is correct?

  1. J is liable for the company's debts as he is the sole director of the company which is obliged by law to have at least two directors.
  2. JK Ltd is not liable for its debts as it is a limited company.
  3. J and K are not obliged to contribute anything further towards the debts of the company.
  4. As they each hold 50% of the shares, J and K are each obliged to pay half of the company's debts.

Answer(s): C






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