Thursday, December 20, 2007


Question No. 13 is compulsory. Attempt any two questions of the rest.
What is meant by 'Corporate Governance'? State the major 'characteristics' of good
corporate governance. (5 marks)
Ans : Refer Q- 9 of Chapter 2

Finance and accounting professional working as an employee in an organisation have to face various threats which make it difficult for them to comply with fundamental principles relating to ethics. Explain the safeguards in the work environment which may be created by a business enterprise to overcome such threats. (5 marks)
Ans : Refer Q-11, Point No. B on page no 55 of Chapter no 6
Explain the meaning of the terms 'ethics' and 'business ethics' and also state the requirements of 'business ethics' (5 marks)
Ans : Refer Q-1 & 2, Chapter no 1
Answer any two out of four. You are required to state whether the statement is correct or
incorrect with brief reasons:
(a) Company management has responsibility only towards its shareholders.-No
(b) Window-dressing of financial statements will not be useful in the long run.-Yes
(c) Ethics and morals are synonymous.-No
(d) Competition Act, 2002 protects the interest of consumers.-Yes (5 marks)

What is meant by 'Environmental ethics'? How does it's non-adoption leads to 3 Ps viz., Polluter, Pay and Principles? Explain. (5 marks)
Ans : Refer Q-12, Chapter no 4
Question No. 17 is compulsory and attempt any two questions of the rest

What is meant by 'Critical thinking? How shall you develop critical thinking? (5 marks)
Ans : Refer Q-9 & 10, Chapter no 8
J desires to gift out her flat to Mumbai in City Cooperative Society registered under the Maharashtra Cooperative Societies Act, 1960, to her brother A. Stating the legal requirements to be complied with, draft a Gift Deed. Take your own data regarding date, flat no., floor area etc. (5 marks)

Third Annual General Meeting of ABC Limited was held on 28th September, 2007. Several business was transacted at the meeting including the adoption of annual accounts for the year ended 31st March, 2007. The meeting was attended by 30 members in person and 5 members in proxy. Draft the minutes of the Annual General meeting indicating how shall the adoption of accounts, being one of the business transacted at the meeting, be recorded. (5 marks)

What do you understand by `Group conflicts'? How shall these be managed effectively? Explain. (5 marks)
Ans : Refer Q-10 & 11, Chapter no 9
You have been assigned the job of composing business messages. What check-list would you prepare for organizing the message?

Ans : While composing business messages i would like to check following things:
  1. The background and educational level of receiver
  2. The understanding level of receiver
  3. The urgency or importance involved with message
  4. The level of secrecy to be maintained with message
  5. The length, fact & figure involves in message
  6. Selection of channel
  7. The amount of noise or barrier present in the channel or path of communication.
  8. Cost & time involved in transmission of message
  9. Custom and culture of organisation and receiver (audience)

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