Free CIMA CIMAPRA19-F01-1 Actual Exam Questions
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Which of the following must be disclosed in the entity's separate financial statements if it is exempt
from presenting consolidated financial statements?
£5.00 to package product H and £15 to deliver product H to customers.
PWR is currently selling faulty versions of product H from a defunct batch, (let's call this version
product I), for 25% of the original price.
Which of the below options represent the correct inventory price for product I?
subsequently sells the computers to CC for $200 a computer plus a 5% sales tax. C sells the
computers to customers at $300 a computer plus a 5% sales tax.
The total tax received by the tax authority is $30.
Which type of tax is described above?
fairness of an entity's financial statements?
principles of corporate governance?
previous year, with any unrelieved losses carried forward to set against the first available trade profits
in future years.
GH had the following taxable profits and losses in years 20X1 to 20X4:
What are the taxable profits for 20X4, assuming the most efficient use of the loss is made?
CORRECT TEXT AAA has the following working capital ratios at 30 March 20X4: 
During the year ended 30 March 20X4 credit purchases were $3,600 and at 30 March 20X4 the outstanding trade payables amounted to $522. The year ended 30 March 20X4 was not a leap year. Calculate the working capital cycle for AAA. Give your answer to one decimal place.
CORRECT TEXT QR purchased a property for its investment potential on 1 January 20X3 for $2.5 million. The total property cost is split as follows: land $1 million and buildings $1.5 million. The buildings were expected to have a remaining useful life of 40 years. The local property index at 31 December 20X3 indicates that the fair value of the property has risen by 10%. What is the balance that QR will include in its statement of financial position at 31 December 20X3 for this property, assuming that it uses the IAS 40 Investment Properties fair value model? Give your answer in $million to two decimal places.
CORRECT TEXT The following information relates to a single asset: *Original cost of $186,000 *Estimated residual value of $6,000 *Expected useful life of 10 years *Accumulated depreciation at 31 December 20X5 of $66,960 *Annual depreciation rate of 20% on a reducing balance basis Calculate the amount of depreciation that should be charged to profit or loss for the year ended 31 December 20X6. Give your answer to the nearest whole number.
CORRECT TEXT Country ZZ allows the cost of a capital asset to be adjusted for an indexation allowance which takes into consideration the effect of inflation, although the indexation allowance cannot convert a chargeable gain into a chargeable loss. The following data relates to the sale of an asset during the year ended 31 March 20X4: 
Calculate the chargeable gain or loss in respect of the sale of this asset. Give your answer to the nearest $.
HOTSPOT FG purchased 40% of the equity shares of QR and exerted significant influence over the board of the directors. QR will be classified as____of FG. 
CORRECT TEXT The following information is extracted from the trial balance of YY at 30 September 20X3. 
i. Included in revenue is a refundable deposit of $20 million for a sales transaction that is due to take place on 14 October 20X3. ii. The cost of closing inventory is $28 million, however, the net realisable value is estimated at $25 million. iii. The interest free loan was obtained on 1 January 20X3. The loan is repayable in 12 quarterly installments starting on 31 March 20X3. All installments to date have been paid on time. Calculate the cost of sales that would be shown in YY's statement of profit or loss for the year ended 30 September 20X3. Give your answer to the nearest $ million.