CIMAPRA17-BA3-1 Exam Dumps

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Number Of Questions: 393

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Exam Details

Exam Name:

Fundamentals of financial accounting

Exam Code:

BA3

Total Questions in Exam:

393

Demo Questions

Q1. The Finance Director of EFG company has made the following statements regarding the recording of expenditure relating to the entity's property, plant and equipment (PPE) in the nominal ledger. Which THREE of the following statements are true?

A.The annual depreciation charge reduces EFG's profit for the year.

B. The cost of insurance for the factory is debited to the PPE asset account.

C. The loss on the disposal of PPE reduces EFG's profit for the year

D. The cost of repainting the office is credited to the repairs expense account

E. The loss on the disposal of PPE is recorded in a liability account

F. The annual depreciation charge reduces the carrying value of PPE

Answer

Correct Answer: A, C, F

Q2. The Finance Director of EFG company has made the following statements regarding the recording of expenditure relating to the entity's property, plant and equipment (PPE) in the nominal ledger. Which THREE of the following statements are true?

A.The annual depreciation charge reduces EFG's profit for the year.

B. The cost of insurance for the factory is debited to the PPE asset account.

C. The loss on the disposal of PPE reduces EFG's profit for the year

D. The cost of repainting the office is credited to the repairs expense account

E. The loss on the disposal of PPE is recorded in a liability account

F. The annual depreciation charge reduces the carrying value of PPE

Answer

Correct Answer: A, C, F

Q3. Which of the following is the correct double entry for a prepayment?

A.Debit expense Credit prepayment (current asset)

B. Debit prepayment (current liability) Credit expense

C. Debit prepayment (current asset) Credit expense

D. Debit expense Credit prepayment (current liability)

Answer

Correct Answer: A

Answer

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CIMAPRA17-BA3-1 Exam Dumps

Certification Exams

Downloadable PDF versions

100% Confidential

Updated Regularly

Advanced Features

Number Of Questions: 393

Exam Details

Demo Questions

Q1. The Finance Director of EFG company has made the following statements regarding the recording of expenditure relating to the entity's property, plant and equipment (PPE) in the nominal ledger. Which THREE of the following statements are true?

A.The annual depreciation charge reduces EFG's profit for the year.

B. The cost of insurance for the factory is debited to the PPE asset account.

C. The loss on the disposal of PPE reduces EFG's profit for the year

D. The cost of repainting the office is credited to the repairs expense account

E. The loss on the disposal of PPE is recorded in a liability account

F. The annual depreciation charge reduces the carrying value of PPE

Q2. The Finance Director of EFG company has made the following statements regarding the recording of expenditure relating to the entity's property, plant and equipment (PPE) in the nominal ledger. Which THREE of the following statements are true?

A.The annual depreciation charge reduces EFG's profit for the year.

B. The cost of insurance for the factory is debited to the PPE asset account.

C. The loss on the disposal of PPE reduces EFG's profit for the year

D. The cost of repainting the office is credited to the repairs expense account

E. The loss on the disposal of PPE is recorded in a liability account

F. The annual depreciation charge reduces the carrying value of PPE

Q3. Which of the following is the correct double entry for a prepayment?

A.Debit expense Credit prepayment (current asset)

B. Debit prepayment (current liability) Credit expense

C. Debit prepayment (current asset) Credit expense

D. Debit expense Credit prepayment (current liability)

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