最新的CIMA Financial Reporting - F1免費考試真題
問題1
On 1 May 20X8 DEF enters into a contract to lease plant with a fair value of $200,000. Annual lease payments of $50,000 are to be paid in advance and DEF incurred direct costs to arrange the lease of S2.000 The present value of future lease payments at 1 May 20X8 is $190,000.
What is the amount to be recognised as a right-of-use asset on 1 May 20X8?
What is the amount to be recognised as a right-of-use asset on 1 May 20X8?
正確答案: D
問題2
The external auditors have completed their audit and have discovered a material but not pervasive error in the financial statements of JK.
The directors of JK have refused to change the financial statements.
What type of modified audit report should be issued?
The directors of JK have refused to change the financial statements.
What type of modified audit report should be issued?
正確答案: C
問題3
On 1 July 20X8 JKL has 100 units of inventory, which cost $8 each. The following transactions arose during the month of July:
JKL values inventory using the first in. first out method.
What is the value of JKL's inventory at 31 July 20X8?
Give your answer to the nearest $.
JKL values inventory using the first in. first out method.
What is the value of JKL's inventory at 31 July 20X8?
Give your answer to the nearest $.
正確答案:
Pending
問題4
正確答案:
問題5
For an incorporated business, the taxation of trading income is a form of direct taxation which is based on:
正確答案: D
問題6
XYZ operates in Country A where tax rules state that entertaining costs and donations to political parties are disallowable for tax purposes.
XYZ calculated both its accounting and taxable profits for the year ended 31 December 20X2 after deducting
$10,000 of entertaining costs.
It is considering what impact the ruling that "entertaining costs are disallowable for tax purposes" will have on its two profit figures.
Which of the following correctly states the impact of the ruling on the profits already calculated?
XYZ calculated both its accounting and taxable profits for the year ended 31 December 20X2 after deducting
$10,000 of entertaining costs.
It is considering what impact the ruling that "entertaining costs are disallowable for tax purposes" will have on its two profit figures.
Which of the following correctly states the impact of the ruling on the profits already calculated?
正確答案: B
問題7
UK purchased an asset, with a useful economic life of 10 years, on 1 January 20X5 for $40,000. The asset was revalued on 31 December 20X6 to 544,000 and the directors believed its total useful economic life remained unchanged On 31 December 20X7 UK sells the asset for $50,000 How much will be recorded as a profit on disposal of the asset in UK's statement of profit or loss for the year ended 31 December 20X7?
Give your answer to the nearest $.
Give your answer to the nearest $.
正確答案:
Pending
問題8
DE purchased an asset on 1 January 20X1 for $60,000 with a useful economic life of six years and a residual value of $3,000.
DE uses straight line depreciation for this asset.
On 31 December 20X3 the asset has a value in use of $ $28,000 and a fair value of $26,000.
Which of the following values should be used for the asset in DE's statement of financial position as at 31 December 20X3?
DE uses straight line depreciation for this asset.
On 31 December 20X3 the asset has a value in use of $ $28,000 and a fair value of $26,000.
Which of the following values should be used for the asset in DE's statement of financial position as at 31 December 20X3?
正確答案: A
問題9
The following information is extracted from the statement of financial position for ZZ at 31 March 20X3:
Included within cost of sales in the statement of profit or loss for the year ended 31 March 20X3 is $20 million relating to the loss on the sale of plant and equipment which had cost $100 million in June 20X1.
Depreciation is charged on all plant and equipment at 25% on a straight line basis with a full year's depreciation charged in the year of acquisition and none in the year of sale.
The revaluation reserve relates to the revaluation of ZZ's property.
The total depreciation charge for property, plant and equipment in ZZ's statement of profit of loss for the year ended 31 March 20X3 is $80 million.
The corporate income tax expense in ZZ's statement of profit or loss for year ended 31 March 20X3 is $28 million.
ZZ is preparing its statement of cash flows for the year ended 31 March 20X3.
What figure should be included for corporate income tax paid in order to arrive at the net cash flow from operating activities?
Give your answer to the nearest $ million.
Included within cost of sales in the statement of profit or loss for the year ended 31 March 20X3 is $20 million relating to the loss on the sale of plant and equipment which had cost $100 million in June 20X1.
Depreciation is charged on all plant and equipment at 25% on a straight line basis with a full year's depreciation charged in the year of acquisition and none in the year of sale.
The revaluation reserve relates to the revaluation of ZZ's property.
The total depreciation charge for property, plant and equipment in ZZ's statement of profit of loss for the year ended 31 March 20X3 is $80 million.
The corporate income tax expense in ZZ's statement of profit or loss for year ended 31 March 20X3 is $28 million.
ZZ is preparing its statement of cash flows for the year ended 31 March 20X3.
What figure should be included for corporate income tax paid in order to arrive at the net cash flow from operating activities?
Give your answer to the nearest $ million.
正確答案:
$21 million
問題10
Below are extracts from LLL's financial statements for the year ended 31 December 20X2.
Depreciation of $25,000 was charged on properly, plant and equipment in the year and there were no disposals What is the cash generated from operations for inclusion in LLL's statement of cash flows for the year ended
31 December 20X2?
Depreciation of $25,000 was charged on properly, plant and equipment in the year and there were no disposals What is the cash generated from operations for inclusion in LLL's statement of cash flows for the year ended
31 December 20X2?
正確答案: B
問題11
EFG purchased an asset on 1 January 20X5 for $24,000. On that date its useful life was 5 years and residual value was expected to be nil. EFG calculates depreciation on a pro-rata basis.
The asset is reclassified as held for sale on 1 October 20X8 and is unsold on 31 December 20X8.
It is expected that the asset will be sold for S6;300 and that selling costs will be S500.
What is the amount that this asset will be included at in EFG's statement of financial position at 31 December 20X8?
Give your answer to the nearest $.
The asset is reclassified as held for sale on 1 October 20X8 and is unsold on 31 December 20X8.
It is expected that the asset will be sold for S6;300 and that selling costs will be S500.
What is the amount that this asset will be included at in EFG's statement of financial position at 31 December 20X8?
Give your answer to the nearest $.
正確答案:
$5,800
問題12
The tax rules in a country state that all tax returns must be filed by 31 March each year and that any outstanding tax balance must be paid by 14 April each year. An entity filed its tax return on 10 April 20X2 and paid the outstanding tax on 20 April 20X2.
Which TWO of the following powers is the tax authority likely to have in respect of these actions by the entity?
Which TWO of the following powers is the tax authority likely to have in respect of these actions by the entity?
正確答案: D,E
問題13
The following data relates to Company AB.
Statement of Profit or Loss for the year ended 30 June 20X4:
During the year ending 30 June 20X4, which was not a leap year, the average stock holding period was 102 days.
Calculate the working capital cycle in days.
Give your answer to the nearest full day.
Statement of Profit or Loss for the year ended 30 June 20X4:
During the year ending 30 June 20X4, which was not a leap year, the average stock holding period was 102 days.
Calculate the working capital cycle in days.
Give your answer to the nearest full day.
正確答案:
56 days
問題14
Select THREE actions that should be taken by a business offering credit to its customers to ensure that amounts owing are collected as quickly as possible.
正確答案: B,C,D
