CIMAPRA17-BA4-1 Practice Questions| TestInsights

Question 1

CIMA's Code of Ethics would be violated if a professional accountant accepted a fee for work which is:

Afixed by a company's ethics committee

Bbased on a quotation fixed in advance of the work being earned out

Cpayable once a specified finding has been attained

Dbased on a price quotation submitted in competitive bidding

Correct : B

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Afixed by a company's ethics committee

Bbased on a quotation fixed in advance of the work being earned out

Cpayable once a specified finding has been attained

Dbased on a price quotation submitted in competitive bidding

Question 2

A manufacturing company has a policy of only buying raw materials which are produced within a 100 kilometer radius of its factory. This is an example of what aspect of CSR?

AQuality management

BEnvironmental impact reporting

CSupply chain management

DBrand management

Correct : D

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AQuality management

BEnvironmental impact reporting

CSupply chain management

DBrand management

Question 3

Which of the following statements is correct in relation to private and public companies limited by shares?

AA private and public company are required to hold an AGM

BA public company cannot commence trading until it has satisfied minimum share capital requirements

CA public company is required to have at least one director

DA private company must have a qualified company secretary

Correct : B

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AA private and public company are required to hold an AGM

BA public company cannot commence trading until it has satisfied minimum share capital requirements

CA public company is required to have at least one director

DA private company must have a qualified company secretary

Question 4

Internal audit is considered best practice but is not required by law Which of the following does NOT describe a benefit of internal audit to the board of directors?

AThe internal audit function can help the audit committee have confidence in the fraud prevention systems within the company

BThe internal audit function can provide independent assurance of the financial policies applied to the financial statements

CThe internal audit function can report back to the audit committee if controls are not as effective as they should be

DThe internal audit function can help the audit committee to discharge their responsibilities for the ongoing monitoring of the risk in the company

Correct : B

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AThe internal audit function can help the audit committee have confidence in the fraud prevention systems within the company

BThe internal audit function can provide independent assurance of the financial policies applied to the financial statements

CThe internal audit function can report back to the audit committee if controls are not as effective as they should be

DThe internal audit function can help the audit committee to discharge their responsibilities for the ongoing monitoring of the risk in the company

Question 5

You are the manager of the finance function of a large engineering company According to IFAC's drivers of sustainable corporate success, which of the following would be a method by which you could improve the value of your department to the company?

AProviding ethical leadership which focuses on minimizing environmental costs sustainably.

BProviding ethical and strategic leadership which focuses on sustainable value creation.

CProviding strategic leadership which sustains the maximization of short term value.

DProviding sustainable ethical and strategic leadership which focuses on operating profit.

Correct : B

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AProviding ethical leadership which focuses on minimizing environmental costs sustainably.

BProviding ethical and strategic leadership which focuses on sustainable value creation.

CProviding strategic leadership which sustains the maximization of short term value.

DProviding sustainable ethical and strategic leadership which focuses on operating profit.

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