Question No 30:
Which of the following is NOT a principle in the CIMA Code of Ethics for Professional Accountants?
B. Professional competence and due care
Thursday, 19 November 2015
Thursday, 12 November 2015
Question No 29:A customer of CDF went bankrupt on 15 January 2014 owing CDF $75,000. CDF’s profit for the year ended 31 December 2013 was $750,000 and its statement of financial position at that date showed trade receivables of $300,000. CDF has not provided for any bad debts for the year ended 31 December 2013. This is material but not fundamental.
Which ONE of the following types of audit report should the external auditor of CDF issue for the financial statements of CDF for the year ended 31 December 2013?
A. A modified report with a qualified opinion in respect of receivables.
B. A modified report with a disclaimer opinion.
C. A modified report with an adverse opinion.
D. A modified report with an emphasis of matter paragraph.
Thursday, 5 November 2015
Question No 28:Which of the following methods could be used by a tax authority to reduce tax evasion and avoidance?
A. Increase tax rates to compensate for losses due to evasion.
B. Reduce penalties for avoidance.
C. Reduce requirements to have tax returns audited.
D. Simplify the tax structure, minimizing allowances and exemptions.