CIMA BA4 Value Pack (Frequently Bought Together)

Which of the following are situations involving familiarity threats? Select ALL that apply.

• A. Steve - Conducts monthly reviews of his team's performance (the team hasn't changed for the past five years).
• B. Angela - Has worked on the production line for the past seven years.
• C. Kay - A department manager who doesn 't reprimand one of her team members for doing a job wrong because they are friends.
• D. Steve - A business manager who hires his 18-year-old son for a managerial level job.
• E. Bryan - Has worked as an accountant for the past ten years. He always makes sure he is up-to-date with changes in the industry.

Which of the following are cases where the veil should be lifted? Select ALL that apply.

• A. The black company - Trades with a company based in a country experiencing civil war.
• B. The orange company - Continues to trade even though it knows it is in irrevocable debt
• C. The red company - Continues to trade despite being having small debts.
• D. The pink company - Failed to disclose the full company name on official documents.
• E. The white company - An investigative journalist reveals that the company has been deliberately avoiding tax.

How might an organization exercise ethical control over its staff? Select ALL that apply.

• A. Ensure that all employees adhere to a conceptual framework.
• B. Ensure than an organizational culture is developed and adhered to.
• C. Ensure that all employees adhere to a rules-based approach.
• D. Ensure that hired employees have a strong set of moral values and principles that they take into account when making decisions.
• E. Ensure that the company has its own ethical code that is communicated and followed.

Which of the following best describes "independence of mind" as referred to in CIMA's Code of Ethics

• A. It ensures a professional accountant is straightforward and honest in all professional and business relationships
• B. It separates a professional accountant from the rest of society
• C. It ensures a professional accountant always tries to avoid any action which discredits the profession.
• D. It permits the expression of a conclusion without being affected by influences that compromise professional judgement

Which of the following is not valid consideration?

• A. Past consideration.
• B. A promise to make an early repayment of a debt.
• C. Payment handed over at the time of the contract.
• D. Payment to be made upon delivery of the goods.