CIMA Fundamentals of Financial Accounting - BA3 FREE EXAM DUMPS QUESTIONS & ANSWERS
The petty cash imprest is restored to £500 at the end of each week. The following amounts are paid out of petty cash during week 23:
(a) Stationery - £70.50 (including VAT at 17.5%)
(b) Travelling costs - £127.50
(c) Office refreshments - £64.50
(d) Sundry payables - £120.00 plus VAT at 17.5%
The amount required to restore the imprest to £500.00 is:
Give your answer to 2 decimal places.
(a) Stationery - £70.50 (including VAT at 17.5%)
(b) Travelling costs - £127.50
(c) Office refreshments - £64.50
(d) Sundry payables - £120.00 plus VAT at 17.5%
The amount required to restore the imprest to £500.00 is:
Give your answer to 2 decimal places.
Correct Answer:
£403.47
Strategic management deals with which ONE of the following;
Correct Answer: B
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The balances of the trial balance of CDE for the year ended 31 May 20X4 is as follows
What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $'000
What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $'000
Correct Answer:
$26280
An external audit is an independent examination of, and expression of opinion on the financial statements of an entity.
Who of the following appoints the external auditor?
Who of the following appoints the external auditor?
Correct Answer: B
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In a cash flow statement, which one of the following would not be found under the section "cash flows from financing activities"?
Correct Answer: B
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A business will maintain a non-current asset register to keep a record of all non-current assets held.
Which THREE of the following are examples of information contained within the register?
Which THREE of the following are examples of information contained within the register?
Correct Answer: C,D,E
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The statement of cash flow is a primary statement.
Which of the following gives the best description of the information provided to users by a statement of cash flow?
Which of the following gives the best description of the information provided to users by a statement of cash flow?
Correct Answer: C
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Refer to the Exhibit.
Your organization bought a machine for £50,000 at the beginning of year 1, which had an expected useful life of four years and an expected residual value of £10,000; the machine was depreciated on the straight-line basis.
At the beginning of year 4, the machine was sold for £13,000
The total amount of depreciation charged to the income statement over the life of the machine, and the amount of profit or loss on disposal was:
The answer is:
Your organization bought a machine for £50,000 at the beginning of year 1, which had an expected useful life of four years and an expected residual value of £10,000; the machine was depreciated on the straight-line basis.
At the beginning of year 4, the machine was sold for £13,000
The total amount of depreciation charged to the income statement over the life of the machine, and the amount of profit or loss on disposal was:
The answer is:
Correct Answer: B
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Refer to the exhibit.
A company has the following equity balances at the beginning of the year:
During the year the company issued 100,000 new shares at $1.20 each
What are the equity balances after this issue?
A company has the following equity balances at the beginning of the year:
During the year the company issued 100,000 new shares at $1.20 each
What are the equity balances after this issue?
Correct Answer: A
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An invoice for stationery has been debited and credited to the correct accounts but has been duplicated.
This would result in:
This would result in:
Correct Answer: A
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Which THREE of the following internal controls are procedures to help detect errors?
Correct Answer: A,C,D
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Which of the following transactions affects profit but does not affect cash?
Correct Answer: D
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Refer to the Exhibit.
A company operates a FIFO system of inventory valuation. The following information is available for the month of April:
The closing value of inventory at the end of the month of April is
A company operates a FIFO system of inventory valuation. The following information is available for the month of April:
The closing value of inventory at the end of the month of April is
Correct Answer:
$1432
Which THREE of the following are characteristics of management accounting?
Correct Answer: A,C,D
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