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Worksheetscorporate governance
Total questions: 26
Worksheet time: 26mins
What does the term "corporate" refer to?
Government entity
Non-profit organization
Legal entity formed for business
Educational institution
Who is responsible for appointing and overseeing the management of a corporation?
Shareholders
Government
Board of Directors
CEO
Which of the following is NOT an objective of corporate governance mentioned?
Protecting shareholder interests
Promoting management effectiveness
Ensuring ethical decision-making
Maximizing short-term profits
Which components are considered part of the internal mechanism of corporate governance?
Financial Market, Ownership Structure, Legal Infrastructure
Ownership Structure, Market of Goods & Services, Financial Statements & Auditors
Financial Statements & Auditors, Market of Goods & Services, Board of Directors
Legal Infrastructure, Board of Directors, Financial Market
The primary stakeholders are:
Customers.
Suppliers.
Shareholders.
Creditors.
The chairperson of the board of directors and CEO should be leaders with:
Vision and problem solving skills.
The ability to motivate.
Business acumen.
All of the above.
Codes of conduct and codes of ethics
rarely become an effective component of the ethics and compliance program.
are designed for top executives and managers, not regular employees.
become necessary only after a company has been in legal trouble.
are formal statements that describe what an organization expects of its employees.
Who runs the company operations for large companies?
Shareholders
Board of Directors
External auditors
Stakeholders
a) Financial information disclosed
b) Non-financial information disclosed
c) Financial prepared according to International Financial Reporting Standards (IFRS)
The point above suitable for need of good governance of
Control environment
Board commitment
Well-defined shareholders
Transparent disclosure
"Successful business leaders not only realize the importance of giving back to society, but they also consider the social and environmental responsibilities of their business with the ultimate goal of sustainable global development."
This statements refers to
Needs of corporate governance
Advantages of having audit committee
Audit committee structure
Elements of corporate governance
Key players in good corporate governance are
Directors and management of corporation
Audit committee members
Internal and External auditors
Shareholders
All of the above
Management is responsible towards which of the following?
All shareholders
Employees
Government
Society
All stakeholders
What are the principles of Corporate Governance?
Integrity & Fairness
Transparency & disclosures
Accountability & Responsibility
All of the above
Managing and governing is the same
True
False
independent director is one who
did not attend a school supported by company
does not have outside relationship with other directors
does not have any other relationships with company other than his or her directorship
all of above
To whom does the shareholders delegate responsibilities in running the business as a whole?
Management
Employees
Board of Directors
Accountants
They are the ones that ensure financial statements are free from material misstatements
External Auditors
Independent Directors
Board of Directors
BIR
In order to have good governance in an organization, this major characteristic must be present
Connections
Wealth
Accountability
Good Looks
This is one of the many responsibilities the shareholders entrusted to management
Answer all Complaints
Financial Transparency
Win every Lawsuit
Take sides during shareholders' meeting
Why is corporate governance required?
To increase the company's market share
To comply with international business standards
To bridge the gap between ownership and control
To ensure the company's profits are maximized
What does corporate governance seek to ensure?
That all employees receive bonuses
That the company has a global presence
That shareholders' objectives are prioritized
That directors' personal objectives are met
What is required from companies under a 'comply or explain' basis?
To follow all government regulations without exception
To comply with international standards only
To disclose non-compliance and provide explanations
To ensure 100% compliance with corporate governance codes
What is the purpose of the audit committee?
To manage the company's investments
To oversee marketing strategies
To review financial statements and audits
To design new products
Who coined the term Corporate Governance?
Peter Drucker
Bob Cooper
Philip Kotler
Bob Tricker
------ may be defined as the enhancement of long-term shareholders while at the same time protecting the interests of other stakeholders.
Corporate Social Responsibility
Business ethics
Corporate governance
Cultural relativism
Corporate governance is concerned with the formation of …………… term objective
Short
Medium
Long
All of these
