CIMA BA3 Actual Free Exam Questions & Community Discussion
Refer to the exhibit.
Harvey commenced business with capital of $50,000. At the end of the first financial year, he has What was the profit for the period?
Harvey commenced business with capital of $50,000. At the end of the first financial year, he has What was the profit for the period?
Correct Answer: D
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A club received subscriptions during the year totaling £37500. Of these, £2400 related to the previous year and
£1200 related to the following year.
There were subscriptions in arrears at the end of the current year of £750.
The subscriptions to be included in the income and expenditure account for the current year amount to
£1200 related to the following year.
There were subscriptions in arrears at the end of the current year of £750.
The subscriptions to be included in the income and expenditure account for the current year amount to
Correct Answer:
£34652
FGH has extracted its trial balance from its nominal ledger for the year ended 31 March 20X6 The items below have a value greater than SNil Which are debit and which are credit balances?
Correct Answer:
Accountant P debited wages with £1,000 instead of £1,500, but credited sales with £1,500 instead of £2,000.
Which of the following kind of bookkeeping mistakes is this?
Which of the following kind of bookkeeping mistakes is this?
Correct Answer: D
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What will be the effect on the financial statements if the closing inventory figure is decreased?
Correct Answer: D
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Which of the following transactions affects profit but does not affect cash?
Correct Answer: A
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Refer to the Exhibit.
Accounting information is required for a wide range of users both internal and external. Each user has a different need for the information.
Which of the following is the correct combination of user and need?
Accounting information is required for a wide range of users both internal and external. Each user has a different need for the information.
Which of the following is the correct combination of user and need?
Correct Answer: C
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Strategic management deals with which ONE of the following;
Correct Answer: B
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Refer to the exhibit.
ABC has the equity balances at the end of year 1.
During year 2 ABC issues 100,000 new shares at a price of $1.10
What is the balance on share premium at the end of year 2?
ABC has the equity balances at the end of year 1.
During year 2 ABC issues 100,000 new shares at a price of $1.10
What is the balance on share premium at the end of year 2?
Correct Answer: B
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Which of the following methods of inventory valuation is not acceptable in the UK for financial reporting purposes?
Correct Answer: A
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Which ONE of the following do solvency ratios measure:
Correct Answer: D
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Which of the following transactions in the current year explains a reason for an increase in the gearing ratio of an entity from 35% last year to 45% this year?
Correct Answer: A
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Which one of the following is unlikely to be identified by the ratio analysis of a company's financial statements?
Correct Answer: C
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The purpose of the external audit is the examination of, and expression of opinion on the financial statements of an entity.
What is the purpose of internal audits?
What is the purpose of internal audits?
Correct Answer: C
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