B is a small retail bank that offers customers many on-the services B is keen to ensure sound security both to protect the bank's assets and also to safeguard customer privacy B's IT Security Manager has suggested that the bank should use two phase authentication for access to the on-line systems Which TWO of the following are examples of two phase authentication?

• A. Customer passwords must contain both letters and numbers and must be changed regularly.
• B. Customers must input a valid user name and then input a password user name first input a password and then a pin number
• C. Customers first input a password and then receive an access code via email or text message that also has to be input
• D. Customers first input a password and then use a card or token to gain access

GHY is a listed company. Tom is GHY's CEO and Peter is its non-executive Chair of the Board. Tom and Peter both have substantial relevant business and industrial experience and both are believed to have considerable integrity. Tom and Peter quickly developed a good working relationship after Peter's appointment. They have become close friends.
Tom briefs Peter on every aspect of the business. Tom and Peter jointly agree the agenda for every board meeting and both agree on the manner in which matters will be presented to the board.
Taking account of the principles of good corporate governance, which of the following statements is correct?

• A. Non-contentious board meetings show how well Tom and Peter are running the company and shows that the management is cohesive.
• B. The relationship between Peter and Tom may have a detrimental effect on company decision making as the Board is not always being informed about matters in an unbiased manner.
• C. Since the non-executive chair clearly has a significant role within this company there is little danger that any individual will become excessively dominant.
• D. It is entirely appropriate that Tom and Peter have this kind of relationship and both are acting in the best interests of the company.

You are the Management Accountant for a company which supplies baked food to a string of retail outlets; biscuits, cakes, savoury snacks etc.
You discover that a trainee employee, who is responsible for cleaning out the delivery vans has been taking damaged goods and packets which have reached their sales expiry date and has been selling them to friends.
These products would otherwise have been discarded as waste.
The trainee in question is the nephew of one of the senior managers.
What is the correct course of action?

• A. Document the facts and escalate to the trainee's manager.
• B. Have a quiet word with the senior manager, the trainee's relative and ask them to deal with it.
• C. Do nothing, the product was designated as waste anyway.
• D. Have a quiet word with the trainee and ask him to stop.

Having carried out a full capital appraisal for a construction project, H Company has approved the project with initial outflows of $6,000,000 and a net present value of $1,200,000.
The implementation phase has been commenced with 25% of the costs already committed. However when the ground was opened, an underground waterway was revealed which will need to be diverted if the project is to proceed. Work to carry out this diversion has been estimated at $1,300,000.
Which of the following factors will define whether the project should go ahead or not?

• A. The project actually has a higher NPV than before.
• B. Abandoning the project will have an adverse effect on shareholder confidence.
• C. There will be abandonment costs to restore the site.
• D. The project now has a negative NPV.
• E. There may be other unexpected costs to be met if the project continues.