Question 1

Which of the following is not an official source of company information?

Accepted Answer

While Companies House, a company's registered office, and The Gazette are all official sources of company information, social media platforms such as Twitter are not guaranteed to provide accurate or reliable information about a company, and therefore should not be relied upon as an official source.

Question 2

Which of the following is not part of narrative reporting?

Accepted Answer

The Chief Executive's confession is not a part of narrative reporting. The other three options are all commonly included in narrative reporting. The Directors' report provides an overview of the company's performance and future plans, the Chairman's statement typically gives a broader look at the company's position and strategy, and corporate governance disclosures detail the company's structure, policies, and decision-making processes.

Question 3

The individual or group accounts which are required to be filed with the registrar of companies are called

Accepted Answer

The term "statutory accounts" refers to the financial statements that companies are legally required to file with the registrar of companies. These statements must comply with specific legal requirements and provide a true and fair view of the company's financial position. Therefore, option A is the correct answer. Options B, C, and D are not appropriate terms for these types of accounts.

Question 4

Which of the following statements is not true

Accepted Answer

Accounting records are meant to provide information about the company's financial transactions and position, and enable the preparation of financial statements such as annual accounts. However, they are not meant to provide an opinion on whether the company is a good investment or not. That is the role of financial analysts and investors who use the information in financial statements along with other factors to make investment decisions.

Question 5

Which of the following is not contained in the Annual Return?

Accepted Answer

The Annual Return typically contains information about the company such as the names of its directors and secretary, the type of company it is, its registered office address, share capital, and shareholders. However, it does not usually contain information about the director's incomes or salaries.

Question 6

A document in prescribed form which every registered company is required to file with the Registrar of Companies on an annual basis containing basic information about the company is called

Accepted Answer

The document being referred to is the annual return, which every registered company must file with the Registrar of Companies on an annual basis. The annual return contains basic information about the company such as its registered office, directors, and shareholders. Therefore, the best choice is B) annual return.

Question 7

A statutory register that has to be maintained by all companies containing a details of all charges over the company's property is called

Accepted Answer

The register of charges is a statutory register that every company is required to maintain under the Companies Act 2006. This register contains details of all charges over the company's property, including mortgages, debentures, and other secured loans. It is important that this register is kept up to date and accurate, as any errors or omissions could impact the validity of the charges. The register of members, directors, and secretaries are also important registers that companies are required to maintain, but they do not relate specifically to charges over the company's property.

Question 8

A statutory register that has to be maintained by all companies containing a definitive list of members of the company is called

Accepted Answer

A register of members is a statutory requirement under company law, and contains a definitive list of all current and past members of a company, including their names, addresses, and the dates they became or ceased to be a member. Register of charges lists all the charges and mortgages created by the company. Register of directors contains information about the directors of the company. A register of secretaries contains information about the company’s secretaries.

Question 9

What can one find in The Gazette?

Accepted Answer

The Gazette typically publishes formal announcements concerning companies, such as changes in ownership, mergers, and bankruptcies. It is not known for publishing gossip, information on director's bonuses, or pictures of well known CEOs.

Question 10

Which of the following is not an item of periodic disclosure?

Accepted Answer

Weekly financial reports are not considered a standard item of periodic disclosure. The other options (A, B, and C) are all common examples of periodic disclosures made by public companies.

Quiz 17: Public Order Offences