A. Purchase or sale of property and other assets,
B. Rendering of services
C. Transfer of research and development
D. Transactions that did not take place due to the existence of related party relationships.
2. A Capital Reduction Scheme is allowed only on fulfillment of all BUT ONE of the following conditions:
A. It must be authorized by its Articles.
B. It must be by a special resolution passed at a General Meeting.
C. The resolution must specify the amount of reduction.
D. The resolution must be published in at least one national newspaper.
E. The capital reduction must be approved by the court.
3. A Company’s ability to meet its obligations as at when due will be shown by the
A. Income Statement.
B. Shareholders’ Fund.
C. Cashflow Statement.
D. Value Added Statement.
E. Five-Year Financial Summary.
4. Where a member of ICAN is found guilty of professional misconduct, he may face the following sanctions EXCEPT
A. terms of imprisonment awarded by the tribunal against the member.
B. Suspension from membership
C. imposition of a fine.
E. Total expulsion from membership
5. Corporate governance concepts do NOT include
A. risk management.
B. fairness and accountability.
C. independence of Board members.
D. probity/honesty and transparency.
E. independence of management.