CIMAPRA17-BA3-1 Exam - Topic 1 Question 55 Discussion

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

Question #: 55
Topic #: 1

MM does not maintain complete accounting records The following information is available for the year ended 31 December 20X3.

The mark up on items sold by MM is 20%

What is the figure for purchases to be included in MM's statement of profit or loss for the year ended 31 December 20X3?

A$61,000

B$61,500

C$63,500

D$59,000

Show Suggested Answer

Suggested Answer: C

by Terrilyn at Jul 21, 2022, 03:10 PM

Limited Time Offer

25%

Off

Get Premium CIMAPRA17-BA3-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Kanisha

4 months ago

Totally agree with Cory, B looks correct!

upvoted 0 times

...

Ciara

4 months ago

Total sales = $73,800 if markup is 20%.

upvoted 0 times

...

Nu

4 months ago

Wait, are we sure about those figures? They seem off.

upvoted 0 times

...

Cory

4 months ago

I think it's option B, $61,500. Seems right to me!

upvoted 0 times

...

Cristy

4 months ago

The markup is 20%, so purchases should be calculated accordingly.

upvoted 0 times

...

Mitzie

5 months ago

I think the answer could be $61,500, but I need to double-check the calculation for sales and purchases again.

upvoted 0 times

...

Lauran

5 months ago

I feel like the markup is 20%, so we might need to divide the sales by 1.2 to find the cost, but I'm a bit confused about the numbers.

upvoted 0 times

...

Kelvin

5 months ago

This seems similar to a practice question we did on markup. I think we need to find the sales figure first.

upvoted 0 times

...

Walton

5 months ago

I remember something about calculating purchases using sales and markup, but I'm not sure how to apply it here.

upvoted 0 times

...

Elliott

5 months ago

I'm a little confused on the differences between the Exponential and Weibull distributions. I'll need to review those in more detail to determine which one is most appropriate for this scenario.

upvoted 0 times

...

Gladys

5 months ago

I'm a bit confused about whether the single-site model is flexible enough for a company's scaling needs.

upvoted 0 times

...

Leatha

5 months ago

Wait, isn't this detective? The supervisor checks after the transaction might have been initiated.

upvoted 0 times

...

Glory

5 months ago

I'm feeling a bit lost on this one. The wording of the question is a bit confusing, and I'm not entirely sure which phase would involve the specific activities described.

upvoted 0 times

...