NOV 2019 – Page 11

CSME – Nov 2019 – L2 – Q6c – Ethics in Business

Discusses ethical non-consequentialism with a focus on duty and highlights problems associated with this ethical theory.

Question

Answer

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Tags: Deontological Ethics, Duty Ethics, Non-Consequentialism
Level: Level 2

Topic: Ethics in Business
Series: NOV 2019

CSME – Nov 2019 – L2 – Q6b – Ethics in Business

Discusses the differences between ethical subjectivism and situation ethics.

Question

b) Distinguish ethical subjectivism from situation ethics. (6 Marks)

Answer

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Tags: Business Ethics, Ethical Subjectivism, Situation Ethics
Level: Level 2

Topic: Ethics in Business
Series: NOV 2019

CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process

Defines business strategy and highlights key questions that a five-year business strategy must answer.

Question

(a) Define “business strategy” and highlight EIGHT questions that a five-year business strategy must seek to answer. (5 Marks)

Answer

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Tags: Business Strategy, Organizational Growth, Strategic Planning
Level: Level 2

Topic: Strategic Planning Process
Series: NOV 2019

CSME – Nov 2019 – L2 – Q5b – Corporate Governance

Analyzes the alternative types of board structures and provides arguments for the most viable option.

Question

(b) Analyze the alternative types of board structure that a company might adopt and provide an argument in support of the one you consider to be more viable. (10 Marks)

Answer

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Tags: Board Structure, Corporate Governance, Two-Tier Board, Unitary Board
Level: Level 2

Topic: Corporate Governance
Series: NOV 2019

CSME – Nov 2019 – L2 – Q5a – Risk Management and Corporate Strategy

Outlines a presentation on the functions and determinants of the efficiency of a risk manager.

Question

(a) You are preparing for a job interview as a risk manager. This requires you to make a ten-minute presentation on the functions and determinants of the efficiency of a risk manager.

Required:
Present an outline of your 10-minute presentation. (10 Marks)

Answer

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Tags: Corporate Strategy, Risk Management, Risk Manager Efficiency
Level: Level 2

Topic: Risk Management, Risk Management and Corporate Strategy
Series: NOV 2019

CSME – Nov 2019 – L2 – Q4c – Corporate Social Responsibility (CSR)

Explores the concept of social ecology and its impact on corporate social responsibility.

Question

Answer

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Tags: Corporate Sustainability, Environmental Responsibility, Social Ecology
Level: Level 2

Topic: Corporate social responsibility
Series: NOV 2019

CSME – Nov 2019 – L2 – Q4b – Corporate Social Responsibility (CSR)

Explores the concept of carbon neutrality and its application to corporate operations.

Question

(b) Discuss the concept of carbon neutrality in relation to the operations of companies. (5 Marks)

Answer

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Tags: Carbon Neutrality, Corporate Sustainability, Environmental impact
Level: Level 2

Topic: Corporate social responsibility
Series: NOV 2019

CSME – Nov 2019 – L2 – Q4a – Corporate Social Responsibility (CSR)

Discusses the environmental and social impacts created by organizations in their pursuit of economic wealth.

Question

a) In their quest to create economic wealth, business organizations leave environmental and social footprints.

Required:
Discuss environmental and social footprints of organizations. (10 Marks)

Answer

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Tags: Corporate Social Responsibility, Environmental Footprint, Social Impact
Level: Level 2

Topic: Corporate social responsibility
Series: NOV 2019

CSME – Nov 2019 – L2 – Q3b – Ethical Issues in Corporate Governance

Discusses the application of six principles of the Nolan Committee in public finance management.

Question

(b) The public sector is the driver of the economies of many developing nations. Public Finance Management has become a focus of attention in these economies. Development partners have therefore drawn the attention of governments to the Nolan Committee’s report on Standards in Public Life.

Required:
Discuss SIX of these principles for public office holders and show how they can enhance performance in the public sector. (6 Marks)

Answer

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Tags: Nolan Committee, Public Finance, Public sector governance
Level: Level 2

Topic: Ethical Issues in Corporate Governance
Series: NOV 2019

CSME – Nov 2019 – L2 – Q3a – Corporate Governance

Discusses basic concepts that are essential for good corporate governance and their relation to governance practices.

Question

(a) There are basic concepts that must be observed for good corporate governance in an entity.

Required:
Discuss these concepts and show how they relate to good corporate governance. (14 Marks)

Answer

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Tags: Accountability, Corporate Governance, Fairness, Transparency
Level: Level 2

Topic: Corporate Governance
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q13 – Law of Tort

Identifies the meaning of the term "tortfeasor."

Question

Which of the following is the meaning of “tortfeasor”?
A. Beneficiary of tort
B. Suit in tort
C. Person who commits tort
D. Accessory to tort
E. Action in tort

Answer

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Tags: Law of Tort, Legal Definitions, Tort, Tortfeasor
Level: Level 1

Topic: Law of Tort
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q12 – Agency Law

Determines how an agency is terminated by operation of law.

Question

In which of the following ways is an agency terminated by operation of law?
A. Mutual agreement
B. Notice by either party
C. Revocation by a party
D. Death of a party
E. Renunciation of authority

Answer

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Tags: Agency, Operation of Law, Termination
Level: Level 1

Topic: Agency Law
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q11 – Sale of Goods

Identifies the appropriate remedy for breach of warranty under sale of goods law.

Question

Under sale of goods law, which of the following is a remedy for breach of warranty?
A. Termination
B. Restitution
C. Rescission
D. Rejection
E. Damages

Answer

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Tags: Breach of Warranty, Remedies, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q10 – Law of Contract

Identify the legal term for a contract discharged due to impossibility.

Question

A contract which becomes impossible to fulfil because of unforeseen circumstances is said to be discharged by:
A. Frustration
B. Breach
C. Inaction
D. Uncertainty
E. Compromis

Answer

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Tags: Contract, Discharge, Frustration, Impossibility
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q9 – Partnership Law

Determines the requirement for tape recording evidence admissibility in electronic fraud cases.

Question

A prerequisite for admissibility of tape recording evidence in a case of electronic fraud is to determine:
A. What the tape recorder edits
B. How the recording has been preserved
C. Who the owner of the recording is
D. Where the recording was tested
E. When the recorder was last repaired

Answer

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Tags: Electronic Evidence, Fraud Cases
Level: Level 1

Topic: Partnership Law
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

Question

What is the net amount of trade receivables recognised in the statement of financial position?
A. N1,110,000
B. N1,201,000
C. N1,210,300
D. N1,274,000
E. N1,300,000

Answer

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Tags: Allowance for Bad Debts, Financial Position, Trade receivables
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

Question

What is the amount of allowance recognised in the statement of profit or loss?

A. N26,000
B. N63,700
C. N89,300
D. N89,700
E. N98,700

Answer

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Tags: Allowance for Bad Debts, Profit or Loss, Trade receivables
Level: Level 1

Topic: Law of Contract
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q6 – Law of Trusts

Identifying a component that is not part of financial statements as per IAS 1

Question

In accordance with IAS1 – Presentation of Financial Statements, which of the following is not a component of a financial statement?
A. Statement of financial position
B. Statement of value added
C. Statement of changes in equity
D. Statement of cash flows
E. Statement of profit or loss

Answer

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Tags: Components, Financial Statements, IAS 1
Level: Level 1

Topic: Law of Trusts
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q5 – Law of Trusts

Cash Flow Statement, Financial Position, Solvency Question Short Summary: Identifying the information not revealed by a statement of cash flow

Question

Question:
Which of the following information CANNOT be revealed by a statement of cash flow?
A. The entity’s short-term solvency
B. Operating cash position
C. Financial position of the entity
D. Liquidity position of the entity
E. Investing activities of the entity

Answer

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Tags: Cash Flow Statement, Financial Position, Solvency
Level: Level 1

Topic: Law of Trusts
Series: NOV 2019

BL – Nov 2019 – L1 – SA – Q4 – Sources of Nigerian Law

Identifying changes in accounting methods that do not give rise to changes in accounting policy

Question

In accordance with the requirements of IAS-8 – Accounting Policies, Estimates and Errors, which of the following changes in method does not give rise to changes in accounting policy?
A. Measurement of PPE from cost to revaluation model
B. Presentation of depreciation from cost of sale to administrative expense
C. Calculation of depreciation from straight line to sum of digit method
D. Recognition of an expense from capitalisation to expensing
E. Reclassification of non-current asset to current asset

Answer

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Tags: Accounting policy, Financial Statements, IAS 8
Level: Level 1

Topic: Sources of Nigerian Law
Series: NOV 2019

Series: NOV 2019

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CSME – Nov 2019 – L2 – Q6c – Ethics in Business

Discusses ethical non-consequentialism with a focus on duty and highlights problems associated with this ethical theory.

You're reporting an error for "CSME – Nov 2019 – L2 – Q6c – Ethics in Business"

CSME – Nov 2019 – L2 – Q6b – Ethics in Business

Discusses the differences between ethical subjectivism and situation ethics.

You're reporting an error for "CSME – Nov 2019 – L2 – Q6b – Ethics in Business"

CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process

Defines business strategy and highlights key questions that a five-year business strategy must answer.

You're reporting an error for "CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process"

CSME – Nov 2019 – L2 – Q5b – Corporate Governance

Analyzes the alternative types of board structures and provides arguments for the most viable option.

You're reporting an error for "CSME – Nov 2019 – L2 – Q5b – Corporate Governance"

CSME – Nov 2019 – L2 – Q5a – Risk Management and Corporate Strategy

Outlines a presentation on the functions and determinants of the efficiency of a risk manager.

You're reporting an error for "CSME – Nov 2019 – L2 – Q5a – Risk Management and Corporate Strategy"

CSME – Nov 2019 – L2 – Q4c – Corporate Social Responsibility (CSR)

Explores the concept of social ecology and its impact on corporate social responsibility.

You're reporting an error for "CSME – Nov 2019 – L2 – Q4c – Corporate Social Responsibility (CSR)"

CSME – Nov 2019 – L2 – Q4b – Corporate Social Responsibility (CSR)

Explores the concept of carbon neutrality and its application to corporate operations.

You're reporting an error for "CSME – Nov 2019 – L2 – Q4b – Corporate Social Responsibility (CSR)"

CSME – Nov 2019 – L2 – Q4a – Corporate Social Responsibility (CSR)

Discusses the environmental and social impacts created by organizations in their pursuit of economic wealth.

You're reporting an error for "CSME – Nov 2019 – L2 – Q4a – Corporate Social Responsibility (CSR)"

CSME – Nov 2019 – L2 – Q3b – Ethical Issues in Corporate Governance

Discusses the application of six principles of the Nolan Committee in public finance management.

You're reporting an error for "CSME – Nov 2019 – L2 – Q3b – Ethical Issues in Corporate Governance"

CSME – Nov 2019 – L2 – Q3a – Corporate Governance

Discusses basic concepts that are essential for good corporate governance and their relation to governance practices.

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BL – Nov 2019 – L1 – SA – Q13 – Law of Tort

Identifies the meaning of the term "tortfeasor."

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BL – Nov 2019 – L1 – SA – Q12 – Agency Law

Determines how an agency is terminated by operation of law.

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BL – Nov 2019 – L1 – SA – Q11 – Sale of Goods

Identifies the appropriate remedy for breach of warranty under sale of goods law.

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BL – Nov 2019 – L1 – SA – Q10 – Law of Contract

Identify the legal term for a contract discharged due to impossibility.

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BL – Nov 2019 – L1 – SA – Q9 – Partnership Law

Determines the requirement for tape recording evidence admissibility in electronic fraud cases.

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BL – Nov 2019 – L1 – SA – Q8 – Law of Contract

Determining the net amount of trade receivables to be recognised in the statement of financial position

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BL – Nov 2019 – L1 – SA – Q7 – Law of Contract

Calculating the amount of allowance for trade receivables in the profit or loss statement

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BL – Nov 2019 – L1 – SA – Q6 – Law of Trusts

Identifying a component that is not part of financial statements as per IAS 1

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q6 – Law of Trusts"

BL – Nov 2019 – L1 – SA – Q5 – Law of Trusts

Cash Flow Statement, Financial Position, Solvency Question Short Summary: Identifying the information not revealed by a statement of cash flow

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q5 – Law of Trusts"

BL – Nov 2019 – L1 – SA – Q4 – Sources of Nigerian Law

Identifying changes in accounting methods that do not give rise to changes in accounting policy

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