The duty to avoid a conflict of interest under ss 182 to 183 of the Corporations Act 2001 (Cth) is applicable to: Select one: a. Company secretaries. b. All of the options for this question are correct. c. Officers and employees. d. Directors.

Which of the following is NOT a breach of the duty to avoid conflicts of interest? Select one: a. Diverting a business opportunity to a director personally. b. Getting a free holiday for signing a contract, on behalf of the company, with a supplier. c. Setting up a business in competition with the company. d. Not keeping track of the company’s financial position.

A director’s duty to exercise their powers and to discharge their duties in good faith and in the best interests of the corporation usually means: Select one: a. Acting in the best interest of employees. b. Acting in the best interests of the company’s shareholders. c. None of the other options for this question are correct. d. Acting in the best interest of creditors.

What is the correct course of action if a professional encounters a conflict of interest?Question 22Answera.Hide the conflict of interest to avoid consequencesb.Disclose the conflict of interest and seek guidance from a supervisor or ethics committeec.Ignore the conflict of interest and proceed with the taskd.Minimize the conflict of interest by altering records

Conflicts of interest or obligation

A person dealing with a company: Select one: a. Will lose their entitlement to rely on the statutory assumptions set out in s 129 of the Corporations Act 2001 (Cth) if they have actual knowledge that contradicts an assumption. b. Has a right to rely on the statutory assumptions in s 129 of the Corporations Act 2001 (Cth) in all situations. c. Will not be able to enforce the transaction where the agent of the company has been fraudulent or dishonest, even if they were unaware the person they were dealing with had been fraudulent or dishonest. d. Must undertake independent inquiries before entering into a transaction with the company.