CIMA Exam CIMAPRA17-BA4-1 Topic 7 Question 75 Discussion

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam

Question #: 75
Topic #: 7

Z Ltd intends to participate in a "substantial property transaction" with one of its directors. Which of the following is correct in relation to substantial property transactions?

(i) The value of the asset must exceed 10% of the company's net assets and be more than 5,000.

(ii) The transaction must be approved by the shareholders.

(iii) The director must disclose his interest in the transaction.

A(i) only

B(i) and (ii) only

C(i) and (iii) only

D(i), (ii) and (iii)

Show Suggested Answer

Suggested Answer: A, B, C

by Leota at Oct 06, 2023, 06:05 PM

Limited Time Offer

25%

Off

Get Premium CIMAPRA17-BA4-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Earlean

3 days ago

I think the answer is D, because all three conditions must be met for a substantial property transaction.

upvoted 0 times

...