CIMAPRA17-BA3-1 Exam - Topic 1 Question 1 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam

Question #: 1
Topic #: 1

MHJ purchased an asset for 53,500, which incurred a delivery charge of 20,000. MHJ decided to set a depreciation rate of 15% per annum for the asset.

In its second year, the asset is re-valued at 180% of the net carrying value of the previous year.

What will be the asset's net carrying amount by the end of its second year?

A7 72,455.00

B95,586.75

C53,101.20

D81,248.74

Show Suggested Answer

Suggested Answer: B

by Freeman at May 05, 2022, 12:22 PM

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Dominga

4 months ago

Totally agree, the re-valuation really changes things!

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Shelia

4 months ago

Wait, how does it get re-valued at 180%? That seems off.

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Jackie

4 months ago

I think the net carrying value will be higher than that!

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Nadine

4 months ago

Depreciation is 15% per year, right?

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Micah

5 months ago

The initial cost is 53,500 plus 20,000 delivery.

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King

5 months ago

Hmm, I'm not too familiar with the specifics of cloud-based SD-WAN. I'll need to think through the differences between on-premises and cloud-based deployments to identify the main advantages.

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Avery

5 months ago

I think the deduction is based on doubtful debts, but I'm not completely sure if it only allows for 75% of the statutory amount.

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