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Selected BA3 CIMA Certificate Questions Answers

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Question 24

UVW is preparing its manufacturing account for the year ended 30 June 20X7 The following information is available:

What is UVWs prime cost for year ended 30 June 20X7?

Options:

A.

$352,000

B.

$344,000

C.

$389,000

D.

$397,000

Question 25

Which of the following transactions affects profit but does not affect cash?

Options:

A.

Issue of share capital

B.

Payments to trade payables

C.

Purchase of non-current assets

D.

Sales of goods on credit

Question 26

GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

Options:

A.

The total spend of $185

B.

The float total of $250.

C.

The total of the float and total spend of $435

D.

The difference between the float and total spend of $65

Question 27

The format of the financial statements and the disclosure notes are prescribed by accounting standards and Company Law.

Which THREE of the following are headings within the statement of financial position?

Options:

A.

Profit from operations

B.

Non-current assets

C.

Current assets

D.

Cost of sales

E.

Equity & liabilities

F.

Profit before tax

Page: 6 / 14
Exam Code: BA3
Exam Name: Fundamentals of financial accounting
Last Update: Dec 22, 2024
Questions: 393
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