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| Section | Weight | Objectives |
|---|---|---|
| Corporate Governance, Controls and Corporate Social Responsibility | 45% | - Role of board and directors - Internal controls and audit - Corporate social responsibility (CSR) - Principles of corporate governance |
| Company Administration | 10% | - Administration and management of companies - Types of business organisation |
| Business Ethics and Ethical Conflict | 30% | - Nature and importance of ethics - Ethical dilemmas and resolution - Professional ethics principles |
| General Principles of the Legal System, Contract and Employment Law | 15% | - Contract law basics - Employment law essentials - Legal system fundamentals |
1. Which of the following does NOT discharge a contract?
(i) Self-induced frustration.
(ii) Performance of the parties' obligations under the contract apart from minor defects (iii) The insolvency of one of the parties making it impossible for him to pay the contract price.
A) (i) only
B) (i) and (iii) only
C) (ii) only
D) (ii) and (iii) only
2. Which of the following terms can be defined as follows?
"How an organization manages its relationships in the wider community"
A) Corporate governance
B) Professional behavior
C) Ethics
D) Social responsibility
3. Which of the following is correct?
(i) A contract for the sale of land must be in writing.
(ii) A consumer credit agreement must be in writing.
(iii) A contract of employment must be in writing.
A) (i) and (ii) only
B) (i), (ii) and (iii)
C) (i) only
D) (i) and (iii) only
4. C has just set up her own practice and things are going well. She is also a single parent, so is reliant upon her income to pay her bills and support her family. One of her uncles recommends a new client to her.
This client wants C to provide an accountant's report in support of his mortgage application. He insists there is no need for her to see the full details of his income. He suggests that C's uncle would be most displeased if she did not help him, and that she may potentially lose other potential clients.
This is a tension between C's:
A) Societal and Professional values
B) Personal and Professional values
C) Corporate and Professional values
D) Personal and Societal values
5. Which of the following is incorrect?
(i) All contracts must be in writing.
(ii) A contract to sell land must be in writing.
(iii) A contract of employment must be in writing.
A) (i) only
B) (i), (ii) and (iii).
C) (i) and (iii) only
D) (ii) and (iii) only
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: C |
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Fundamentals of Ethics - Corporate Governance and Business Law
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