Company Law Questions
Question 1
Esanda Finance v Peat Marwick (1997) 188 CLR 241 and Daniels v Anderson (1995) 16 ACSR 607 are important decisions regarding auditor's liability. Explain why.
Question 2
With reference to case law and the Corporations Act 2001(Cth) describe what is meant by the term 'insolvency' and identify the link between 'voluntary administration', 'deeds of company arrangements', and 'liquidation'.
Question 3
"The law recognizes a corporation as a distinct legal entity, having a separate existence and a corporate personality of its own, quite apart from the members who comprise it." Discuss this statement with reference to the main legal consequences both at general law and under the Corporations Act 2001 (Cth).
QUESTION 3 Poole Company maintains four special journals and a general journal to record its transactions. Using the code below, indicate in the space provided the appropriate journal for recording the transactions listed A. Mr. Jones invested cash in the business. C. Sold merchandise to a customer on account. A. Cash Receipts Journal D. v Purchased a 2-year auto insurance policy for cash. B. Single column Purchases journal B. * Purchased inventory to be resold on account. C. Sales Journal D. Cash Payments Journal Issued an account credit memorandum to a customer who returned defective merchandise previously sold on account. E. General Journal Purchased office equipment for cash.Question 15 1.2 pts How can conflict be a positive experience for group members? Conflict can isolate and eliminate team members who do not follow acceptable group norms. Conflict can eliminate the opportunity for groupthink to take hold. Conflict can set precedents for future actions. O Conflict can increase the involvement of team members and generate creative ideas for problem solving. O Conflict resolution will result in increased team happiness and harmony. D Question 16 1.2 pts Which of the following is a key difference between financial accounting and management accounting? Financial accounting creates information for outsiders, whereas management accounting is for insiders. O Financial accounting is concerned with preparing cost analyses, whereas management accounting is concerned with creating reports. O Accounting knowledge creates information for all stakeholders, whereas accounting knowledge is used for internal purposes only. O. Financial accounting considers such aspects as profitability, whereas management accounting does not consider profitability. )Management accounting is based on historical data, whereas financial accounting is based on real time data.QUESTION 35 The primary mechanism by which a corporation distributes a new security is called: selling short O price fixing O underwriting liquidation QUESTION 36 One recognized purpose of the Securities Act of 1933 is to do which of the following?Justin Bleeber has prepared the following list of statements about managerial accounting, financial accounting, and the functions of management. Identify each statement as true or false. 1. Financial accounting focuses on providing information to internal users. 2. Staff positions are directly involved in the company's primary revenue-generating activities. 3. Preparation of budgets is part of financial accounting. 4. Managerial accounting applies only to merchandising and manufacturing companies. 5. Both managerial accounting and financial accounting deal with many of the same economic events. 6. Managerial accounting reports are prepared only quarterly and annually. 7. Financial accounting reports are general-purpose reports. 8. Managerial accounting reports pertain to subunits of the business. 9. Managerial accounting reports must comply with generally accepted accounting principles. 10. The company treasurer reports directly to the vice president of operations. eTextbook and MediaAssignment Considering a channel with the power delay profile below, what kind of fading will a service having 750 kHz bandwidth experience considering 50% frequency correlation. OdB -10dB -20dB -30dB Time (US) 0 1 2
