CIMA CIMAPRA17-BA4-1 Exam Actual Questions

Name: BA4 - Fundamentals of Ethics, Corporate Governance and Business Law
Brand: QA4Exam
SKU: CIMAPRA17-BA4-1
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The questions for CIMAPRA17-BA4-1 were last updated on Sep 21, 2024.

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Question No. 1

X is in the process of setting up a private company limited by shares X is considering including certain provisions in the articles of association. Which of the following provisions would be enforceable by and against the company?

1 Dividend rights of the members

2. Terms relating to bonuses of directors

3. Payment terms of suppliers.

A1 only

B1 and 2 only

C2 and 3 only

D1,2 and 3

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Correct Answer: A

Question No. 2

A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest Therefore:

Athe public interest will always be served if an accountant complies with his or her employer's corporate ethical policies

Bfrauds which are detected in an audit must be reported to the public

Ca professional accountant's responsibility is not exclusively to satisfy the needs of an individual client or employer

Dprofessional accountants must be prepared to break laws that they consider to be against the public interest

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Correct Answer: B

Question No. 3

Which THREE of the following statements are correct regarding the CIMA Code of Ethics for Professional Accountants?

AWhere a statutory requirement is in conflict with a provision of the CIMA Code, the CIMA Code requirement prevails

BThe CIMA Code is mandatory for all CIMA members and students, and is applicable to all professional services.

CThe CIMA Code imposes an obligation on CIMA members and students to comply with relevant laws and regulations

DProfessional accountants should consider the ethical requirements contained in the CIMA Code as the basic principles which they should follow in performing their work

EThe CIMA Code is an example of a compliance driven ethical framework

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Correct Answer: A, B, C

Question No. 4

Which of the following statements are correct regarding companies'?

1. Both public and private companies must have a minimum amount of share capital before they can commence trading.

2. The shareholders of both public and private companies cannot interfere in the management of the company.

3. The minimum number of directors for both public and private companies is two

A1 only

B2 and 3 only

C1 and 2 only

D2 only

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Correct Answer: A

Question No. 5

Corporate governance codes may either be rules-based or principles-based

Which of the following statements correctly describes a rules-based approach to corporate governance?

AA rules-based approach requires that a company complies with the rules or explains why it has not.

BA rules-based approach instils the code into law but leaves the sanctions for non-compliance to be decided and enforced by the shareholders.

CA rules-based approach instils the code into law but encourages compliance with the spirit of the law.

DA rules-based approach instils the code into law with appropriate penalties for transgression.

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Correct Answer: D

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