Most Recent CIMAPRA19-F01-1 Exam Dumps

Prepare for the CIMA F1 Financial Reporting exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIMAPRA19-F01-1 exam and achieve success.

The questions for CIMAPRA19-F01-1 were last updated on Feb 22, 2025.

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Question No. 1

Company Y is using some of the money from a share issue to purchase a new office building. The company is also using some of the money to purchase inventories. Which method of financing is this?

AConservative financing

BMatching financing

CAggressive financing

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Correct Answer: A

Question No. 2

EF purchased an asset on 1 September 20X4 for $800,000, exclusive of import duties of $30,000. EF is resident in country Y where indexation is allowed on purchase costs when the asset is disposed of.

EF sold the asset on 31 August 20X9 for $1,500,000 incurring transaction charges of $20,000. The indexation factor increased by 40% in the period from 1 September 20X4 to 31 August 20X9.

Capital gains are taxed at 30%.

What is the tax due on disposal of the asset?

A$108,000

B$101,400

C$102,600

D$95,400

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Correct Answer: D

Question No. 3

Which of the following would NOT be classified as part of non-current assets in a statement of financial position?

AThe interest paid on a loan raised to fund the construction of a factory, where that factory is still not ready for its intended use.

BA property held as an investment which is let to tenants.

CThe goodwill arising on the acquisition of a subsidiary.

DAssets held for sale, classified in accordance with IFRS 5 Non-current Assets Held for Sales and Discontinued Operations.

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Correct Answer: D

Question No. 4

The financial statements of JK for the year ended 31 August 20X4 were approved on 10 November 20X4.

Within these financial statements which of the following would have been treated as a non-adjusting event in accordance with IAS 10 Events After the Reporting Period?

AInventory which was originally valued at its cost of $45,000 being sold for $37,000 in September 20X4.

BA fire in JK's main warehouse on 3 September 20X4 destroying 60% of the inventory that had been held at the year end.

CNotification received on 31 August that one of JK's major customers had gone into liquidation and was unlikely to pay any outstanding invoices.

DThe completion of a court case on 5 November 20X4 in which JK was ordered to pay damages of $150,000.

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Correct Answer: B

Question No. 5

BBB has been experiencing liquidity problems and currently has an overdraft with the bank.

Which THREE of the following would be appropriate measures to help address this problem?

AReduce the selling price of goods to reduce the holding of stock.

BOffer early settlement discounts to encourage debtors to pay more quickly.

CSell some surplus fixed assets.

DInvest in a short term deposit with the bank.

EShorten the time taken to pay creditors.

FPay a dividend to shareholders.

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Correct Answer: A, B, C

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