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Exam Code:BA3
Exam Name:Fundamentals of Financial Accounting
Certification Provider:CIMA
Free Question Number:138
Version:v2020-08-21
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Exam Question List
Question 1: The suspense account of a company was opened with a credit b...
Question 2: Which TWO of the following are transactions that would be re...
Question 3: Refer to the Exhibit. (Exhibit) Wilton Limited is preparing ...
Question 4: A company which is VAT registered, has sales for the period ...
Question 5: An asset may best be defined as:...
Question 6: Refer to the Exhibit. (Exhibit) The following information is...
Question 7: One of the main responsibilities of internal auditors is to ...
Question 8: "To assure shareholders that the stewardship of the organiza...
Question 9: VWX is registered for sales tax in Country B A sales invoice...
Question 10: The formula for calculating payables days is...
Question 11: The petty cash imprest is restored to £500 at the end of eac...
Question 12: The Framework is described as a conceptual framework when us...
Question 13: ABC produces accounts lo the year ended 31 December annually...
Question 14: MHJ purchased an asset for £53,500, which incurred a deliver...
Question 15: Refer to the exhibit. (Exhibit) The trial balance of Monchu ...
Question 16: A company's financial statements show a gross profit of $15 ...
Question 17: The trial balance shows the debit total as $200 less than th...
Question 18: Select the THREE INCORRECT statements from the following lis...
Question 19: Which of the following is the final document in the audit tr...
Question 20: A business buys a new production line at a cost of £100,000....
Question 21: Refer to the exhibit. (Exhibit) The following is an extract ...
Question 22: Which of the following would be a role of the management acc...
Question 23: External auditors report their opinion to the members of the...
Question 24: Financial controls are needed in order to:...
Question 25: The prime cost of goods manufactured is the total of:...
Question 26: Which one of the following would not be considered a purpose...
Question 27: Company P are looking to create a balance sheet. Which of th...
Question 28: If an auditor expresses an opinion of `fair presentation' on...
Question 29: Before lending to an entity, which TWO of the following piec...
Question 30: Principles based accounting uses a conceptual basis to provi...
Question 31: CDE, an entity registered for sales tax, purchases a piece o...
Question 32: Refer to the Exhibit. (Exhibit) A company operates a FIFO sy...
Question 33: Financial statements should present fairly the financial pos...
Question 34: At the beginning of the year, a club's Membership Subscripti...
Question 35: External auditors are primarily responsible for:...
Question 36: Which ONE of the following organizations issues Internationa...
Question 37: HJK has maintained minimal accounting records during the yea...
Question 38: On 1 March, a company made a payment of $6,000, in respect o...
Question 39: Refer to the Exhibit. (Exhibit) A business writes a cheque u...
Question 40: Which THREE of the following are improved by the use of acco...
Question 41: W and Partners has an opening capital balance at 1 January o...
Question 42: Which of the following would meet the definition of a liabil...
Question 43: Entity HJ is a small business. In the period. Entity Hj earn...
Question 44: Comany D recently purchased an intangible asset from Company...
Question 45: A company had disposed of a non-current asset for $4,000 dur...
Question 46: Refer to the Exhibit. (Exhibit) A business has three non-cur...
Question 47: Refer to the exhibit. (Exhibit) A company has the following ...
Question 48: The following is an extract of the trial balance of XYZ as a...
Question 49: Store Y believe customer XF will not be able to pay his £300...
Question 50: Refer to the Exhibit. (Exhibit) A company that is VAT-regist...
Question 51: Refer to the Exhibit. (Exhibit) The following information re...
Question 52: FGH has extracted its trial balance from its nominal ledger ...
Question 53: The Finance Director of EFG company has made the following s...
Question 54: Which THREE of the following internal controls are procedure...
Question 55: Which of the following represent liabilities of a business?...
Question 56: Which of the following would be a good method of segregating...
Question 57: The role of the internal auditors is primarily to:...
Question 58: Cost of goods sold for a manufacturing company is the total ...
Question 59: A trial balance should be extracted from the ledger accounts...
Question 60: Non-current assets can be divided between intangible and tan...
Question 61: Which one of the following book-keeping errors does not affe...
Question 62: The issue of a company's shares for more than their normal v...
Question 63: Refer to the Exhibit. (Exhibit) Soffit plc is calculating it...
Question 64: In times of rising prices, the 'FIFO' method of inventory va...
Question 65: The correct journal entries for subscriptions paid in advanc...
Question 66: Which TWO of the following are responsibilities of the IFRS ...
Question 67: At the beginning of the year, an organization's non-current ...
Question 68: Refer to the Exhibit. (Exhibit) A company has the following ...
Question 69: Which one of the following is an example of where the accrua...
Question 70: Refer to the exhibit. (Exhibit) The following information is...
Question 71: Refer to the Exhibit. (Exhibit) Transactions are often categ...
Question 72: Which of the following is an example of a transaction that a...
Question 73: Which of the following transactions would be classified as a...
Question 74: Accounting records should be kept by all businesses for many...
Question 75: An organization's cash book has an opening balance in the ba...
Question 76: Refer to the Exhibit. (Exhibit) Which of the following would...
Question 77: A liability may best be defined as:...
Question 78: Which ONE of the following is a possible explanation for a d...
Question 79: A trial balance is extracted from the ledger accounts at the...
Question 80: Refer to the Exhibit. (Exhibit) The Financial Accountant for...
Question 81: Different users have different needs from financial informat...
Question 82: MNO operates an imprest system to maintain a float of petty ...
Question 83: Which one of the following best describes the stewardship fu...
Question 84: An internal audit is an independent appraisal function estab...
Question 85: The financial statements are produced in accordance with rel...
Question 86: Entity V has a cost of sales of £23,850 for last year. Entit...
Question 87: Which THREE of the following would be recorded as a debit ba...
Question 88: Refer to the Exhibit. (Exhibit) A company operates a FIFO sy...
Question 89: Refer to the exhibit. (Exhibit) A company has the following ...
Question 90: Accounting codes have proven to be very useful when recordin...
Question 91: In a manufacturing company, prime costs is the total of...
Question 92: The financial accounts, as prepared by the directors of a co...
Question 93: Which TWO of the following are characteristics of financial ...
Question 94: Refer to the Exhibit. (Exhibit) At the beginning of the mont...
Question 95: Refer to the exhibit. (Exhibit) ABC has the equity balances ...
Question 96: Which of the following is an error of principle?...
Question 97: Your organization paid $120250 in net wages to its employees...
Question 98: Which one of the following would not be considered one of th...
Question 99: Refer to the Exhibit. (Exhibit) Ax minster Limited is calcul...
Question 100: Which TWO of the following are features of a private limited...
Question 101: The balance on LMN's cash account at 31 December 20X6 is $10...
Question 102: There are four separate but related bodies which control the...
Question 103: Refer to the exhibit. (Exhibit) The following is an extract ...
Question 104: If closing inventory at the end of an accounting period is o...
Question 105: The role of the internal auditors is primarily to:...
Question 106: What will be the effect on the financial statements if the c...
Question 107: The accumulated fund is equal to:...
Question 108: The valuation of inventory in a manufacturing company will c...
Question 109: The profit earned by Subramanian in 2006 was £ 50,000. He in...
Question 110: A company's cashbook has an opening balance of £4,860 debit....
Question 111: BCD has the following balances for the year ended 31 Decembe...
Question 112: Which of the following would not require an adjustment to be...
Question 113: Which of the following is not a correct definition of the ac...
Question 114: Which of the following transactions would be classified as a...
Question 115: Refer to the exhibit. (Exhibit) In a statement of cash flows...
Question 116: The Accounting Standards Board is responsible for:...
Question 117: In a statement of cash flows, which one of the following wou...
Question 118: Refer to the Exhibit. (Exhibit) A company is preparing its a...
Question 119: The external auditor seeks to provide an opinion on whether ...
Question 120: Which of the following is not a book of prime entry?...
Question 121: ABC manufactures vehicle engines and purchases components fr...
Question 122: Which of the following transactions in the current year expl...
Question 123: An external audit is an independent examination of, and expr...
Question 124: GG has the following statement of profit or loss extract for...
Question 125: If the royalty cost falls on items used in the manufacturing...
Question 126: A company has authorized capital of 100,000 5% preference sh...
Question 127: Refer to the exhibit. (Exhibit) A business has the following...
Question 128: The method of accounting that attempts to recognize changing...
Question 129: JW's debits total £10,502 for this period. JW's credits tota...
Question 130: Refer to the Exhibit. (Exhibit) Which of the following items...
Question 131: If a profitable entity is not required to register for sales...
Question 132: A business has come to you for advice. There are about to st...
Question 133: The owner of a business takes goods from inventory for his o...
Question 134: Mr UY has just had property P re-valued. Mr UY originally pu...
Question 135: ABC has the following summary of transactions for the quarte...
Question 136: Refer to the Exhibit. (Exhibit) The correct ledger entry for...
Question 137: Refer to the Exhibit. (Exhibit) John, an employee of Kelt Lt...
Question 138: Refer to the Exhibit. (Exhibit) The following information is...