Business Ethics and Corporate Governance

BL – Nov 2020 – L1 – SB – Q1d – Business Ethics and Corporate Governance.

Describe ethical codes and their purpose for professional accountants.

Question

Accountants, like most professionals, are guided by the code of ethics of their profession when dealing with clients.

Required:
Explain:
i. Ethical codes
ii. The purpose of ethical codes for a professional accountant.

Answer

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Tags: Accounting Standards, Ethical Guidelines, Ethics, Professional Conduct
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2020

BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Objective question testing knowledge on moral persuasion in guiding acceptable conduct.

Question

6. A moral persuasion against wrongdoing or unacceptable conduct is
A. Ethics
B. Laws
C. Rules
D. Regulations
E. Morals

Answer

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Tags: Business Ethics, Conduct, Ethics, Morality
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2020

CSME – May 2022 – L2 – SC – Q7 – Business Ethics and Corporate Governance

Explain personal, business, and professional ethics, and describe Kohlberg’s stages of moral development.

Question

a. All accountants are expected to act ethically in the discharge of their respective duties. In light of this, evaluate the following concepts as they apply to professional accountancy practice:

i. Personal Ethics (1 Mark)
ii. Business Ethics (1 Mark)
iii. Professional Ethics (1 Mark)

b. With the aid of a clear example, explain the term “ethical/moral dilemma.” (2 Marks)

c. Explain Kohlberg’s stages of moral development. (10 Marks)

Answer

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Tags: Ethical Development, Ethics, Moral Dilemma, Professionalism
Level: Level 2

Topic: Business Ethics and Corporate Governance
Series: MAY 2022

BL – Nov 2015 – L2 – SB – Q4c – Business Ethics and Corporate Governance

List three items that may constitute fraudulent false accounting under Nigerian laws.

Question

statement prepared by him and should not engage in any fraudulent false accounting.

Required:

Enumerate THREE items that may constitute fraudulent false accounting under Nigerian laws.
(6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Ethics, False Accounting, Fraud, Nigerian Law
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2015

BL – Nov 2015 – L2 – SB – Q3b – Business Ethics and Corporate Governance

State the limitations on cash payments under the Money Laundering (Prohibition) Act 2004.

Question

The Money Laundering (Prohibition) Act 2004 contains important provisions aimed at preventing money laundering, one of which is the limitation on the amount of cash payment.

Required:

State the limitation on the amount of cash payment under the Act.
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cash Payment Limitation, Corporate Governance, Financial Crimes, Money laundering
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2015

BL – Nov 2014 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the correct capital requirement for Re-insurance business.

Question

The capital requirement for Re-insurance business is
A. N1 billion
B. N2 billion
C. N3 billion
D. N4 billion
E. N10 billion

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Capital requirement, Finance, Insurance, Re-insurance
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2014

BL – May 2022 – L1 – SB – Q6a – Business Ethics and Corporate Governance

Advise ABC Limited on the implication of two former directors executing a profitable contract on behalf of their own company.

Question

Two of the directors of ABC Limited negotiated a road construction contract on behalf of the company. The company decided not to go ahead with the contract because it intends to start oil refining at the time. Considering that the road construction contract is profitable, the two directors resigned as directors of ABC Limited and established their own construction company, named Two Limited, which executed the contract at a good profit.

ABC Limited is aware of the situation and has approached you for advice.

Required:
Advise ABC Limited on the implication of the action of its former two directors.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conflict of Interest, Corporate Governance, Directors' Duties
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2022

BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Identifying what regulates members of professional bodies besides law.

Question

Members of professional bodies are regulated by law and

A. Ethical codes
B. Peer review
C. Morality
D. Clients
E. Conditional ties

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Ethics, Ethical Codes, Professional Bodies
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2021

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

Question

As an alternative to liquidation, where a company is in financial difficulty the secured creditors have a right to appoint a
A. Director to manage the assets
B. Banker to manage the assets
C. Chairman to manage the assets
D. Receiver/manager to manage the assets
E. Stockbroker to manage the assets

Answer

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Tags: Corporate Law, Insolvency, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q6 – Business Ethics and Corporate Governance

This question asks about a company's method to hedge against business risks.

Question

A means by which a company may hedge against business risk is called
A. Limitation of Liability
B. Limitless Liability
C. Moderated Liability
D. Arbitraging
E. Modulating

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Hedging, Risk Management
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2020 – L1 – SB – Q1d – Business Ethics and Corporate Governance.

Describe ethical codes and their purpose for professional accountants.

Question

Accountants, like most professionals, are guided by the code of ethics of their profession when dealing with clients.

Required:
Explain:
i. Ethical codes
ii. The purpose of ethical codes for a professional accountant.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Standards, Ethical Guidelines, Ethics, Professional Conduct
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2020

BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Objective question testing knowledge on moral persuasion in guiding acceptable conduct.

Question

6. A moral persuasion against wrongdoing or unacceptable conduct is
A. Ethics
B. Laws
C. Rules
D. Regulations
E. Morals

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Ethics, Conduct, Ethics, Morality
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2020

CSME – May 2022 – L2 – SC – Q7 – Business Ethics and Corporate Governance

Explain personal, business, and professional ethics, and describe Kohlberg’s stages of moral development.

Question

a. All accountants are expected to act ethically in the discharge of their respective duties. In light of this, evaluate the following concepts as they apply to professional accountancy practice:

i. Personal Ethics (1 Mark)
ii. Business Ethics (1 Mark)
iii. Professional Ethics (1 Mark)

b. With the aid of a clear example, explain the term “ethical/moral dilemma.” (2 Marks)

c. Explain Kohlberg’s stages of moral development. (10 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ethical Development, Ethics, Moral Dilemma, Professionalism
Level: Level 2

Topic: Business Ethics and Corporate Governance
Series: MAY 2022

BL – Nov 2015 – L2 – SB – Q4c – Business Ethics and Corporate Governance

List three items that may constitute fraudulent false accounting under Nigerian laws.

Question

statement prepared by him and should not engage in any fraudulent false accounting.

Required:

Enumerate THREE items that may constitute fraudulent false accounting under Nigerian laws.
(6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Ethics, False Accounting, Fraud, Nigerian Law
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2015

BL – Nov 2015 – L2 – SB – Q3b – Business Ethics and Corporate Governance

State the limitations on cash payments under the Money Laundering (Prohibition) Act 2004.

Question

The Money Laundering (Prohibition) Act 2004 contains important provisions aimed at preventing money laundering, one of which is the limitation on the amount of cash payment.

Required:

State the limitation on the amount of cash payment under the Act.
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cash Payment Limitation, Corporate Governance, Financial Crimes, Money laundering
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2015

BL – Nov 2014 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the correct capital requirement for Re-insurance business.

Question

The capital requirement for Re-insurance business is
A. N1 billion
B. N2 billion
C. N3 billion
D. N4 billion
E. N10 billion

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Capital requirement, Finance, Insurance, Re-insurance
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2014

BL – May 2022 – L1 – SB – Q6a – Business Ethics and Corporate Governance

Advise ABC Limited on the implication of two former directors executing a profitable contract on behalf of their own company.

Question

ABC Limited is aware of the situation and has approached you for advice.

Required:
Advise ABC Limited on the implication of the action of its former two directors.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conflict of Interest, Corporate Governance, Directors' Duties
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2022

BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Identifying what regulates members of professional bodies besides law.

Question

Members of professional bodies are regulated by law and

A. Ethical codes
B. Peer review
C. Morality
D. Clients
E. Conditional ties

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Ethics, Ethical Codes, Professional Bodies
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: MAY 2021

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Insolvency, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q6 – Business Ethics and Corporate Governance

This question asks about a company's method to hedge against business risks.

Question

A means by which a company may hedge against business risk is called
A. Limitation of Liability
B. Limitless Liability
C. Moderated Liability
D. Arbitraging
E. Modulating

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Hedging, Risk Management
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

Topic: Business Ethics and Corporate Governance

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BL – Nov 2020 – L1 – SB – Q1d – Business Ethics and Corporate Governance.

Describe ethical codes and their purpose for professional accountants.

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BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Objective question testing knowledge on moral persuasion in guiding acceptable conduct.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance"

CSME – May 2022 – L2 – SC – Q7 – Business Ethics and Corporate Governance

Explain personal, business, and professional ethics, and describe Kohlberg’s stages of moral development.

You're reporting an error for "CSME – May 2022 – L2 – SC – Q7 – Business Ethics and Corporate Governance"

BL – Nov 2015 – L2 – SB – Q4c – Business Ethics and Corporate Governance

List three items that may constitute fraudulent false accounting under Nigerian laws.

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BL – Nov 2015 – L2 – SB – Q3b – Business Ethics and Corporate Governance

State the limitations on cash payments under the Money Laundering (Prohibition) Act 2004.

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q3b – Business Ethics and Corporate Governance"

BL – Nov 2014 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the correct capital requirement for Re-insurance business.

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q18 – Business Ethics and Corporate Governance"

BL – May 2022 – L1 – SB – Q6a – Business Ethics and Corporate Governance

Advise ABC Limited on the implication of two former directors executing a profitable contract on behalf of their own company.

You're reporting an error for "BL – May 2022 – L1 – SB – Q6a – Business Ethics and Corporate Governance"

BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Identifying what regulates members of professional bodies besides law.

You're reporting an error for "BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q6 – Business Ethics and Corporate Governance

This question asks about a company's method to hedge against business risks.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q6 – Business Ethics and Corporate Governance"

BL – Nov 2020 – L1 – SB – Q1d – Business Ethics and Corporate Governance.

Describe ethical codes and their purpose for professional accountants.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q1d – Business Ethics and Corporate Governance."

BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Objective question testing knowledge on moral persuasion in guiding acceptable conduct.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q6 – Business Ethics and Corporate Governance"

CSME – May 2022 – L2 – SC – Q7 – Business Ethics and Corporate Governance

Explain personal, business, and professional ethics, and describe Kohlberg’s stages of moral development.

You're reporting an error for "CSME – May 2022 – L2 – SC – Q7 – Business Ethics and Corporate Governance"

BL – Nov 2015 – L2 – SB – Q4c – Business Ethics and Corporate Governance

List three items that may constitute fraudulent false accounting under Nigerian laws.

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q4c – Business Ethics and Corporate Governance"

BL – Nov 2015 – L2 – SB – Q3b – Business Ethics and Corporate Governance

State the limitations on cash payments under the Money Laundering (Prohibition) Act 2004.

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q3b – Business Ethics and Corporate Governance"

BL – Nov 2014 – L1 – SA – Q18 – Business Ethics and Corporate Governance

Identify the correct capital requirement for Re-insurance business.

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q18 – Business Ethics and Corporate Governance"

BL – May 2022 – L1 – SB – Q6a – Business Ethics and Corporate Governance

Advise ABC Limited on the implication of two former directors executing a profitable contract on behalf of their own company.

You're reporting an error for "BL – May 2022 – L1 – SB – Q6a – Business Ethics and Corporate Governance"

BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance

Identifying what regulates members of professional bodies besides law.

You're reporting an error for "BL – May 2021 – L1 – SA – Q6 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q6 – Business Ethics and Corporate Governance

This question asks about a company's method to hedge against business risks.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q6 – Business Ethics and Corporate Governance"

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