Which one of the following statements is false relating to protection for whistle-blowers jn terms of the Companies Act? A. Whistle-blowers must make their disclosures in good faith. B. Whistle-blowers protected by the Companies Act includes, inter alia, shareholders, directors, employees and suppliers of a company. C. The Companies Act offers protection for whistle-blowers against dismissal, demotion or legal action, provided that all of its terms have been met. D. A company can override the requirements of the Companies Act relating to whistle-blowers, in its memorandum of incorporation (MOI) or its rules.

Which one of the following statements is false relating to protection for whistle-blowers jn terms of the Companies Act? A. Whistle-blowers must make their disclosures in good faith. B. Whistle-blowers protected by the Companies Act includes, inter alia, shareholders, directors, employees and suppliers of a company. C. The Companies Act offers protection for whistle-blowers against dismissal, demotion or legal action, provided that all of its terms have been met. D. A company can override the requirements of the Companies Act relating to whistle-blowers, in its memorandum of incorporation (MOI) or its rules.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Explain why a duty to prevent insolvent trading is imposed on directors by statute. Provide an example
The Commissioner can force a taxpayer to produce his/its accounting records if the taxpayer refuses to provide the same during audit. A. True B. False
How might your answers to the breach of contract litigation and the industrial espionage litigation change if Greenlaw used IFRS? Complete the statement below with regard to the breach-of-contract litigation. If an unfavorable outcome is probable and there exists a range of estimates with no amount in the range more likely than any other amount in the range, IFRS require that ___ of the range be used to measure the liability. Complete the statement below with regard to the industrial espionage litigation. With regard to the industrial espionage litigation, under IFRS Greenlaw would record a debit to ___ in the amount of ___ and a credit to .
What would happen or what will the possible scenarios be for the employees and shareholders of a certain company where they work fails to register with the Securities Act of 1933?
A director’s duty to avoid a conflict of interest includes:Select one:a. Not making a personal profit from an opportunity arising from their officeb. Not taking up an opportunity that belongs to the companyc. Not using his or her position for private gaind. All of the above
Consider the following independent situations. For each of the situations described, suggest the appropriate accounting treatment for recording the liability. Back-up your answer with reference to the appropriate recognition criteria and disclosure requirements for liabilities, as per AASB 137. a)A manufacturing company is being sued by a customer group for losses sustained due to a faulty product design. The company’s lawyers feel the suit will likely succeed, but they cannot estimate the potential amount of damages that will be awarded. B)A resource company is obligated by municipal regulations to clean up the site of an active drilling operation in 10 years’ time when the resource has been fully extracted. The company is in its first year of operations and has no previous experience in cleaning up drilling sites C) A mining company has determined that it will cost approximately $10 million to restore a site that it previously mined
An investor or creditor believes that they have suffered harm due to the unexpected the bankruptcy of a large corporation: Required: Can that investor or creditor sue the auditor of the large corporation under contract law? Explain. If the investor or creditor chooses to sue the auditor of the large corporation under tort law, what must they prove before their claim can succeed? How can the auditor contest a claim of negligence?
Briefly discuss each of the following principles of corporate liability; (i) Duty care theory (ii) Contractual theory (iii) Strict liability
Which of the following is an INCORRECT statement regarding a fully disclosed agency? OA. A fully disclosed principal is liable on a contract with the third party. OB. In a fully disclosed agency, the agent's signature must clearly indicate that he or she is acting as an agent for a specifically identifie OC. In a fully disclosed agency, the agent is not liable on the contract with the third party. OD. In a fully disclosed agency, the contract is between the agent and the third party. OE. In a fully disclosed agency, the third party typically relied on the principal's credit and reputation when the contract was made.
The exclusionary rule: A. Prohibits a party from testifying about the contents of a document without producing the document itself. B. Refers to the warnings advising suspects that they have the right not to answer questions and the right to legal counsel during an investigation. C. Provides that, if the government violates an individual’s constitutional rights during an investigation, if cannot prosecute the person whose rights were violated. D. Provides that, if evidence is unconstitutionally seized, that evidence cannot be used in a criminal prosecution against the person whose rights were violated.