CIMA cimapra19-f01-1 practice test

Question 1

The following information is extracted from OO's statement of financial position at 31 March:

Included in other payables is interest payable of $80,000 at 31 March 20X2 and $73,000 at 31 March
20X1.
The following information if included within OO's statement of profit or loss for the year ended 31
March 20X2:

Included within finance cost is $124,000 which relates to interest paid on a finance lease. 00 includes
finance lease interest within financing activities on its statement of cash flows.________________
Within OO's statement of cash flow for the year ended 31 March 20X2 which figures should be
included to reflect the changes in working capital within the net cash flow from operating activities?

• A. Option A
• B. Option B
• C. Option C
• D. Option D

Answer:

C

Question 2

HOTSPOT

Answer:

Question 3

DRAG DROP


Answer

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Question 4

DRAG DROP

Answer

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Question 5

HOTSPOT

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Question 6

DRAG DROP
Identify whether the scenarios below are examples of tax evasion or tax avoidance, by placing either
tax evasion of tax avoidance against each one.

Answer:

Question 7

DRAG DROP
The Conceptual Framework for Financial Reporting issued by the International Accounting Standards
Board (known as the IASB's conceptual framework) includes one underlying assumption about the
preparation of financial statements and two fundamental qualitative characteristics for financial
information.
Identify the underlying assumption and one of the fundamental characteristics by placing one of the
options in each of the boxes below.

Answer:

Question 8

DRAG DROP
Identify from the list below which items can be recognised as assets within the financial statements
of an entity in accordance with IAS 38 Intangible Assets. Place either yes or no as appropriate against
each item.

Answer

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Question 9

DRAG DROP
Indicate the possible reasons for the changes identified below to working capital ratios by placing the
appropriate reason against each change.

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Question 10

DRAG DROP
An entity's inventory days are 45 days.
An entity ceased to manufacture a product in 20X4. Raw materials used solely in the manufacture of
that product are still held in inventory at 31 December 20X4.
Place the appropriate response below to show how inventory days will be affected if this raw
material inventory is written off as obsolete.

Answer: