A Ltd is under contract to manufacture machinery for B Ltd for £200,000. Which of the following is a valid excuse for A Ltd failing to complete the contract on time?

Completing work within established deadlines reflects the personal quality identified by the CIMA Code of Ethics as:

Which of the following is incorrect?

Wye has borrowed £10,000 from Exe and the loan has now become repayable in full. Exe has received a cheque from Wye for £9,000 stated to be "in full and final settlement of the loan." What is the position if Exe cashes the cheque?
(i) Exe will have accepted £9,000 in full and final settlement and will not be able to claim the other
£1,000 from Wye.
(ii) Exe is legally entitled to cash the cheque and pursue Wye for the balance of £1,000.
(iii) Exe will have accepted £9,000, but at law payment of less than the amount due cannot satisfy the full debt.

Abel has just completed an audit on a large law firm. He has decided to issue a modified audit report with a qualified opinion due to the issues he discovered regarding misstatements in the company's financial records.
Why has Abel decided to issue the report with a qualified opinion as opposed a different kind?