CIMAPRA17-BA3-1 Exam - Topic 1 Question 20 Discussion

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

Question #: 20
Topic #: 1

If a profitable entity is not required to register for sales tax with its local tax authority, which of the following statements is TRUE?

AA sales tax receivable account will be prepared in the nominal ledger

BSales tax will not be added to the sales price of goods invoiced to customers

CSales tax will not be added to the cost of goods and expenses supplied

DProfit for the year will be reported net of sales tax.

Show Suggested Answer

Suggested Answer: C

by Thurman at May 04, 2022, 03:11 PM

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6 months ago

Sales tax won't be added to the sales price if not registered.

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I think the key here is to recognize that the semi-skilled labour is in surplus, so the relevant cost for those hours is just the $8 per hour wage, not the $12 contribution per hour that the skilled labour is generating on other contracts.

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Richelle

6 months ago

Hmm, I'm a bit unsure about the specifics of modifying the Salesforce Commerce Checkout flow. I'll need to review my notes carefully.

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Owen

6 months ago

Option D looks interesting, but I'm worried that having a single billing account for all the projects might make it harder to track spending per developer. I'm leaning more towards option C to keep things organized.

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Carmelina

7 months ago

I'm a bit unsure about this one. I know ACK is related to GPU virtualization, but I can't recall the specifics of the supported vGPU ratios off the top of my head. I'll need to think it through step-by-step.

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CIMAPRA17-BA3-1 Exam - Topic 1 Question 20 Discussion

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