The Articles of Association of Dee Ltd state that the company has power to borrow money and that the directors have authority to borrow up to £200,000 on behalf of the company. The board has resolved to purchase a piece of land for £300,000. The Midwest Bank plc has agreed to make a loan of £250,000 to Dee Ltd to acquire the land. Which of the following statements is correct?

• A.As the directors have exceeded their authority, the bank cannot enforce the loan against Dee Ltd.
• B.The loan is ultra virus the directors who will be personally liable for any loss caused to the company, unless their actions are ratified by the shareholders.
• C.The loan is void as Dee Ltd has acted ultra virus.
• D.As the directors have resolved to obtain the loan they have acted in accordance with the company's constitution.

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Which of the following governs all public sector employees?

• A.The Seven Principles of Public Life
• B.The Seven Principles of Public Enterprise
• C.The Seven Principles of Public Sector Participation
• D.The Seven Principles of Public Private Partnership

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Stefan takes his car to the local Car wash to get it cleaned. However, when he comes back an hour later, he finds that, although the car has been cleaned, the car has also been damaged, with scratch marks running down all of the left side.
What type of term applied to this situation:

• A.Statutory Implied Term
• B.Incorporated term
• C.Express Term
• D.Condition
• E.Court Implied Term
• F.Innominate term
• G.Warranty

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When might an ethical dilemma occur?

• A.When there is a conflict of interest
• B.When a code of ethics provides clear guidance on next steps
• C.All of the above
• D.When legislation dictates the appropriate course of action

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Intimidation threats to compliance with fundamental principles are described as threats that may occur

• A.when a professional accountant may be deterred from acting objectively by threats, actual or perceived
• B.when a previous judgment needs to be re-evaluated by the professional accountant responsible for that judgment
• C.when a professional accountant promotes a position or opinion to the point that subsequent objectivity may be compromised
• D.as a result of the financial or other interests of a professional accountant or of an immediate or close family member

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