SNAP 2025 Test 1 Question Paper with Solutions – Page 12
All 60 questions of SNAP 2025 Test 1. Tap Show answer, or open the detailed solution (free login). Page 12 of 12.
You are a CA at a small firm. You missed a client's GST filing date, causing a Rs 15,000 late fee. The partner suggests telling the client it was a 'portal glitch'. The client is the firm's oldest, and the partner decides your increment. What should you do?
- Ask the oldest client to split the penalty cost since regulatory portals are often genuinely unreliable anyway.
- Tell the client it was a government portal glitch, as suggested by the partner who decides your increment.
- Have the firm pay the penalty quietly, without telling the client anything about the underlying filing delay.
- Inform the client truthfully about the missed deadline, and arrange for the firm to absorb the late penalty.
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Answer: D. Inform the client truthfully about the missed deadline, and arrange for the firm to absorb the late penalty.
You are an analyst at a media agency. A new hire has brought her old firm's staff phone list with her. Your manager asks you to use it to text those employees job offers, saying, 'They'll be happy to hear from us.' Your team is short of hires before a big client launch. What should you do?
- Decline to use the old firm's phone list, and suggest open job ads or LinkedIn messages instead.
- Use the list as asked, since a job offer can only benefit the people who receive it.
- Report the new hire to her old firm at once, since carrying away the list was a breach.
- Send each person on the list just one polite message, then delete the list for good.
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Answer: A. Decline to use the old firm's phone list, and suggest open job ads or LinkedIn messages instead.
You lead a team at a family business. You hold weekly Friday team dinners at a bar, where much of the informal planning happens. A single mother and a teetotal colleague never come and are missing time with you. The rest of the team loves the dinners. What should you do?
- Cancel all after-hours team socials entirely ensuring no informal planning happens outside official working hours.
- Keep the Friday bar dinners but personally invite the two absent colleagues every week to show inclusion.
- Keep the schedule exactly as it is since after-hours team attendance is purely optional anyway.
- Vary the format and timing of events so everyone can join without banning the existing socials.
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Answer: D. Vary the format and timing of events so everyone can join without banning the existing socials.
A listed Indian company's CFO wants to classify a large regulatory penalty as a routine expense without separate disclosure so that the annual bonus target is not affected. What is the most ethical course of action?
- Approve the classification because it protects employee bonuses
- Disclose it only if a journalist asks about it
- Delay the decision until after the bonus is paid
- Follow accounting standards, disclose the penalty properly, and place the matter before the audit committee
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Answer: D. Follow accounting standards, disclose the penalty properly, and place the matter before the audit committee
You are an FMCG area manager. An anonymous tip says your top distributor is claiming scheme payouts on invoices for retailers that do not exist. He handles 30% of your region's volume, the quarter closes in ten days, and the tip arrived the same week he turned down a rival distributor's merger offer.
Rank the given considerations in the order a sound business judgment would weigh them, from first to last.
1. Recover the payouts and stop the scheme for him if the fraud is confirmed
2. Warn all distributors publicly that strict action will follow
3. Hear the distributor's explanation, with the check results in hand
4. Sample-check whether the invoiced retailers actually exist
- 2-4-3-1
- 3-4-1-2
- 4-3-1-2
- 4-1-3-2
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Answer: C. 4-3-1-2