Series: MAR 2024

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SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

Question

Prestige’s Board acknowledges that by adopting and implementing the highest standards of
corporate governance, this sets the standards and values for the entire Company. The
Company seeks to comply with best practice in all areas of corporate governance and
continues to review the Company’s procedures to maintain proper control and
accountability.
Required

There are nine members on Prestige’s Board of Directors. They include the Chairman, Chief Executive, three executive directors, and four non-executive directors (NEDs). Describe and explain four broad roles for NEDs identified in the document published in the UK in 2003, known as the Higgs Guidance.

Answer

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Tags: Accountability, board roles, Corporate Governance, Non-Executive Directors
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – MAR 2024 – L3 – Q6b – Strategy, stakeholders, and mission

Explain how Principles V and VI of the OECD Principles of Corporate Governance could be applied at Prestige.

Question

Describe and explain how Principles V and VI of the OECD Principles of Corporate Governance – 2015 Edition, could be applied at Prestige to ensure good corporate governance practices.

Answer

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Tags: Accountability, Corporate Governance, OECD principles, Transparency
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – MAR 2024 – L3 – Q6a – Strategy, stakeholders, and mission

Describe and explain 5 key issues in corporate governance for Prestige.

Question

Prestige’s Board acknowledges that by adopting and implementing the highest standards of corporate governance, this sets the standards and values for the entire Company. The Company seeks to comply with best practices in all areas of corporate governance and continues to review its procedures to maintain proper control and accountability.

Required:
Describe and explain five key issues in corporate governance that would establish how well or badly Prestige is governed.

Answer

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Tags: Accountability, Board Structure, Corporate Governance, Transparency
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – MAR 2024 – L3 – Q5c – International financial management

Evaluate the factors restricting foreign investment despite potential good returns.

Question

With reference to Option Three, evaluate the factors that restrict foreign investment despite the perceived potential for good returns.

Answer

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Tags: Barriers, Foreign Investment, international markets, Risk Assessment
Level: Level 3

Topic: International financial management
Series: MAR 2024

SCS – MAR 2024 – L3 – Q5b – Financial management

Calculate the effective rate of borrowing for three months and explain the advantages of convertible bonds.

Question

With reference to Option Two:

i) What would be its effective rate of borrowing for the three months if US dollar LIBOR is 4.50% at the start of the notional interest period for the FRA? (2 marks)
ii) What are the advantages of Convertible Bonds? (3 marks)

Answer

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Tags: Borrowing rate, Convertible Bonds, Financing, FRA
Level: Level 3

Topic: Financial management
Series: MAR 2024

SCS – MAR 2024 – L3 – Q5a – Financial management

Calculate various financial ratios including ROCE, EPS, DPS, and TSR based on given financial data.

Question

With reference to the information in Option One available to Prestige as presented by Professor Joseph Laing, a business consultant, calculate the following:

i) Return on Capital Employed (ROCE) (1 mark)
ii) Earnings Per Share (EPS) (1 mark)
iii) Dividend Per Share (DPS) (2 marks)
iv) Total Shareholders Return (TSR) (2 marks)
v) Explain the difference between ROCE and Accounting Rate of Return, their essential features, and relationship (4 marks)

Answer

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Tags: DPS, EPS, Financial Ratios, ROCE, TSR
Level: Level 3

Topic: Financial management
Series: MAR 2024

SCS – MAR 2024 – L3 – Q4b – Strategy implementation

Advise on an appropriate HR strategy to harmonize the organizational structure for effective delivery at Prestige.

Question

Each company acquired or merged by Prestige was allowed to maintain its human resource structure.

Required:
Analyze and advise on an appropriate HR strategy Prestige should adopt to harmonize the organizational structure for effective delivery of the company’s objectives.

Answer

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Tags: HR Strategy, Mergers and Acquisitions, Organizational Structure, workforce planning
Level: Level 3

Topic: Strategy implementation
Series: MAR 2024

SCS – MAR 2024 – L3 – Q4a – Strategy implementation

Explain how Prestige could leverage ICT using the four broad stages of e-business development to compete.

Question

Prestige’s Board has shifted from their long-standing reluctance to venture into foreign markets to seriously consider the possibility of expansion overseas. An important implication of this decision is that as the size of the market increases, competition becomes international. The main rivals are no longer local suppliers to a domestic market.

Required:
Using the four broad stages of development to a full e-business model, explain how Prestige could leverage ICT to compete.

Answer

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Tags: Business model, Competitive Advantage, E-Business, ICT
Level: Level 3

Topic: Strategy implementation
Series: MAR 2024

SCS – MAR 2024 – L3 – Q3 – Functional strategies

Explain the potential benefits of resource sharing through common IT systems at Prestige.

Question

When five years ago the present regional divisional structure of Greater Accra, Ashanti, and Eastern was formalized, an attempt was made to ensure that common systems and ways of working were adopted across each of the three regions. However, due to the pressures on the Company, this was never fully implemented.

Required:
Explain the potential benefits of resource sharing (configuring an organization’s computing system in such a way that the information and resources within it can be accessed, and remotely accessed, across multiple administrative domains) to Prestige if they adopt common IT systems.

Answer

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Tags: Cost savings, IT Systems, remote access, resource sharing
Level: Level 3

Topic: Functional strategies
Series: MAR 2024

SCS – MAR 2024 – L3 – Q2 – Competitive advantage

Apply and appraise Porter’s three strategies for sustaining competitive advantage for Prestige Designers Ltd.

Question

A strategic clock can be used to consider different business strategies for gaining competitive advantage, based on providing a combination of price and perceived benefits. Porter has suggested three strategies for sustaining competitive advantage over rival firms and their products or services. They are a cost leadership strategy, a differentiation strategy, and a focus strategy.

Required:
Apply and appraise how effective the suggested three strategies for sustaining competitive advantage over rival firms would be useful to Prestige. (10 marks)

Answer

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Tags: Competitive Advantage, cost leadership, Differentiation, focus strategy
Level: Level 3

Topic: Competitive Advantage
Series: MAR 2024

BCL – Mar 2024 – L1 – Q5b – Types of Capital and the Financing of Companies

Explain the concepts of a fixed charge and a bond in the context of company financing.

Question

A loan taken by a company limited by shares may or may not be secured by a charge.

Required:

In reference to the above statement, explain the following:

i) A fixed charge (3 marks)

ii) A bond (3 marks)

Answer

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Tags: Bond, Company Financing, Company Law, Fixed Charge, Secured Loans
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2024

BCL – Mar 2024 – L1 – Q5a – Types of Capital and the Financing of Companies

Identify and explain prohibited transactions in shares under the Companies Act, 2019 (Act 992).

Question

State TWO (2) prohibited transactions in shares under section 58(1) of the Companies Act, 2019, Act 992 where a company limited by shares is prohibited from transacting in its shares.

(4 marks)

Answer

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Tags: Companies Act, Company Law, Prohibited Transactions, Shares
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2024

BCL – Mar 2024 – L1 – Q4c – Types of Capital and the Financing of Companies, Company Law

Explain the legal significance of statements made in a share certificate under the Companies Act, 2019 (Act 992).

Question

“Statements made in a share certificate, especially where the certificate bears the common seal of the company, shall be absolute or unassailable evidence of the title of the person named in the Certificate.”

Required:

Explain if the above statement is the true position of the law in terms of the provisions of the Companies Act, Act 992.

(2 marks)

Answer

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Tags: Companies Act, Company Law, Legal Evidence, Ownership of Shares, Share Certificates
Level: Level 1

Topic: Contract Law, Types of capital and the financing of companies
Series: MAR 2024

BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

Question

Three persons, Booker, Weah, and Makafui agreed to set up a restaurant. The finance was provided almost entirely by one of them, Booker. Before the restaurant opened, furniture and equipment were purchased and a laundry contract was entered into. Advertisements were placed in the newspapers and on television, apart from the fact that premises were acquired by the person who supplied the money. The parties then fell out and the business did not proceed as planned.

Required:

i) Explain whether in the circumstances of the facts, there is a Partnership in terms of the provisions of the Incorporated Private Partnership Act, 1962 (Act 152). (5 marks)

ii) State TWO (2) liabilities of Partnership for action or transaction done in the course of a Partnership business.

(3 marks)

Answer

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Tags: Business Formation, Formation, Incorporated Private Partnership Act, Liabilities, Partnership Law
Level: Level 1

Topic: Types of capital and the financing of companies
Series: MAR 2024

BCL – Mar 2024 – L1 – Q4a – Employment Law

Evaluate the chances of three individuals succeeding in a court action against MNS Bank for wrongful termination based on the Labour Act.

Question

Three individuals, namely, Agogo, Djiku and Esinam, worked for MNS Bank, upon completing their National Service for a period of five years. It is the case of the workers that for a period of five years the Bank engaged them as temporary employees. Sometime in the year 2023, the workers received letters from a firm called Bansey HR Ltd, an employment agency, engaged by MNS Bank. In the letter, the three individuals had been offered a contract agreement for a six-month period from 2 May, 2023 to 2 November, 2023 by Bansey HR Ltd, and assigned to the Bank.

The letters sought to change their status from temporary employees of the Bank to temporary employees of Bansey HR Ltd. The three workers, however, tendered their resignations from MNS Bank effective 2 June, 2023. The three workers then commenced an action in the High Court, Accra, claiming damages for wrongful termination, arguing that having worked for more than six months with MNS Bank as contract workers, they had become permanent workers and could not be transferred to Bansey HR Ltd.

The Bank resisted the action, arguing that in accordance with a new Policy of the Bank, the Management decided to outsource the employment of all its temporary staff, which includes the three individuals, to Bansey HR Ltd. The Bank contended that upon receipt of the letters from Bansey HR Ltd, the three workers on their own volition resigned and are therefore not entitled to their claim.

Required:

In the light of the provisions of the Labour Act, 2003, Act 651, explain the chances of the three individuals in their court action against MNS Bank. (10 marks)

Answer

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Tags: Employment Law, Labour Act, Permanent Employment, Temporary Employment, Wrongful Termination
Level: Level 1

Topic: Employment law
Series: MAR 2024

BCL – Mar 2024 – L1 – Q3b – Company Law

Analyze the chances of success for shareholders' action against the company under the Companies Act, 2019 (Act 992) and explain the organs through which a company acts.

Question

Kofi Ameyaw and Salia Sule, shareholders of Bubra Ltd, commenced an action in court against the company alleging that properties of the company had been misapplied and wasted, and that certain mortgages were improperly secured as guarantee with the company’s properties. In their action, they also alleged that the company gave negligent advice which had resulted in their suffering economic loss which was personal and individual to them. Kofi Ameyaw and Salia Sule are seeking an order of the court for the company to account for the appointment of a Receiver.

Required:

i) Explain the chances of Kofi Ameyaw and Salia Sule in their court action, in the light of the provisions of the Companies Act, 2019 (Act 992). (9 marks)

ii) Explain FOUR (4) entities or organs through which a company can act pursuant to provisions of the Companies Act, 2019 (Act 992). (6 marks)

Answer

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Tags: Companies Act, Company Law, Legal Remedies, Oppression, Shareholders’ Rights
Level: Level 1

Topic: Contract Law
Series: MAR 2024

BCL – Mar 2024 – L1 – Q3a – Contract Law

Explain the three main kinds of mistakes recognized in contract law.

Question

There are three main kinds of mistakes which are recognized at common law in the law of contract.

Required:

Explain the THREE (3) kinds of mistake. (5 marks)

Answer

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Tags: Common Mistake, Contract Law, Mistake, Mutual Mistake, Unilateral Mistake
Level: Level 1

Topic: Contract Law
Series: MAR 2024

BCL – Mar 2024 – L1 – Q2c – Contract Law

Assess the accuracy of the statement regarding third-party rights in the context of contract law.

Question

“A third party who, without notice of any fraud or deficiency, obtains a contractual benefit is entitled to keep it.”

Required:

Briefly explain the accuracy or otherwise of the statement above. (3 marks)

Answer

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Tags: Contract Law, Fraud, Legal Remedies, Third-Party Rights, Unilateral Mistake
Level: Level 1

Topic: Contract Law
Series: MAR 2024

BCL – Mar 2024 – L1 – Q2b – Contract Law, Sale of goods/hire purchase

Evaluate whether Tinda Oil Ltd. can succeed in a court action against Azigipaa Ltd. based on the provisions of the Sale of Goods Act.

Question

Azigipaa Ltd invited tenders for the purchase of a tanker, said to be lying off the Island Bebre, together with the oil it was said to contain. Tinda Oil Ltd submitted a tender for which Azigipaa Ltd accepted. Tinda Oil Ltd went through considerable trouble and expense to modify a ship that the company owned for salvage work, and also brought equipment and engaged a crew. There was no tanker anywhere near the Island as described by Azigipaa Ltd. Tinda Oil Ltd has decided to take action in court against Azigipaa Ltd.

Required:

i) In light of the provisions of the Sale of Goods Act, is Tinda Oil Ltd likely to succeed in its action? (5 marks)

ii) List TWO (2) fundamental obligations of a seller under the provisions of the Sale of Goods Act 1962, Act 137.

(4 marks)

Answer

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Tags: Contractual Obligations, Legal Remedies, Misrepresentation, Sale of Goods
Level: Level 1

Topic: Contract Law, Sale of goods/hire purchase
Series: MAR 2024

BCL – Mar 2024 – L1 – Q2a – Tort

Analyze whether Atta Mante and the other residents will succeed in a court action against the Adiso District Council for nuisance.

Question

The Adiso District Council has been dumping garbage in a quarry close to a residential area at Abobo, where Atta Mante resides, and that Atta Mante alleged that the dumping of the refuse has often caused offensive and pestilential smell from vapours in the area, and that the stench emanating from the refuse had seriously interfered with their comfort and well-being. The Council denied having caused any discomfort to Atta Mante and the other residents and contended that the act complained of by Atta Mante and other residents, were conferred on the Council by law.

Required:

Explain whether Atta Mante and the other residents will succeed in any court action against Adiso District Council. (8 marks)

Answer

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Tags: Environmental Law, Legal Action, Nuisance, Private Nuisance, Public Nuisance, Tort Law
Level: Level 1

Topic: Tort
Series: MAR 2024

Series: MAR 2024

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SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

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SCS – MAR 2024 – L3 – Q6b – Strategy, stakeholders, and mission

Explain how Principles V and VI of the OECD Principles of Corporate Governance could be applied at Prestige.

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SCS – MAR 2024 – L3 – Q6a – Strategy, stakeholders, and mission

Describe and explain 5 key issues in corporate governance for Prestige.

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SCS – MAR 2024 – L3 – Q5c – International financial management

Evaluate the factors restricting foreign investment despite potential good returns.

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SCS – MAR 2024 – L3 – Q5b – Financial management

Calculate the effective rate of borrowing for three months and explain the advantages of convertible bonds.

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SCS – MAR 2024 – L3 – Q5a – Financial management

Calculate various financial ratios including ROCE, EPS, DPS, and TSR based on given financial data.

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SCS – MAR 2024 – L3 – Q4b – Strategy implementation

Advise on an appropriate HR strategy to harmonize the organizational structure for effective delivery at Prestige.

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SCS – MAR 2024 – L3 – Q4a – Strategy implementation

Explain how Prestige could leverage ICT using the four broad stages of e-business development to compete.

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SCS – MAR 2024 – L3 – Q3 – Functional strategies

Explain the potential benefits of resource sharing through common IT systems at Prestige.

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SCS – MAR 2024 – L3 – Q2 – Competitive advantage

Apply and appraise Porter’s three strategies for sustaining competitive advantage for Prestige Designers Ltd.

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BCL – Mar 2024 – L1 – Q5b – Types of Capital and the Financing of Companies

Explain the concepts of a fixed charge and a bond in the context of company financing.

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BCL – Mar 2024 – L1 – Q5a – Types of Capital and the Financing of Companies

Identify and explain prohibited transactions in shares under the Companies Act, 2019 (Act 992).

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BCL – Mar 2024 – L1 – Q4c – Types of Capital and the Financing of Companies, Company Law

Explain the legal significance of statements made in a share certificate under the Companies Act, 2019 (Act 992).

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BCL – Mar 2024 – L1 – Q4b – Alternative Forms and Constitutions of Business Organisations

Discuss the existence of a partnership in the provided scenario and the liabilities associated with partnership actions.

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BCL – Mar 2024 – L1 – Q4a – Employment Law

Evaluate the chances of three individuals succeeding in a court action against MNS Bank for wrongful termination based on the Labour Act.

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BCL – Mar 2024 – L1 – Q3b – Company Law

Analyze the chances of success for shareholders' action against the company under the Companies Act, 2019 (Act 992) and explain the organs through which a company acts.

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BCL – Mar 2024 – L1 – Q3a – Contract Law

Explain the three main kinds of mistakes recognized in contract law.

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BCL – Mar 2024 – L1 – Q2c – Contract Law

Assess the accuracy of the statement regarding third-party rights in the context of contract law.

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BCL – Mar 2024 – L1 – Q2b – Contract Law, Sale of goods/hire purchase

Evaluate whether Tinda Oil Ltd. can succeed in a court action against Azigipaa Ltd. based on the provisions of the Sale of Goods Act.

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BCL – Mar 2024 – L1 – Q2a – Tort

Analyze whether Atta Mante and the other residents will succeed in a court action against the Adiso District Council for nuisance.

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