CIMAPRA17-BA3-1 Exam - Topic 1 Question 67 Discussion

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

Question #: 67
Topic #: 1

Which of the following would meet the definition of a liability in accordance with the Conceptual Framework's definition?

AAn amount due from a customer for goods dispatched two weeks ago

BAn amount due to a supplier for goods to be purchased in one month's time

CAn amount which was paid to a supplier in relation to a dispute

DAn amount due to a supplier for goods purchased one month ago

Show Suggested Answer

Suggested Answer: B

by Rosio at Mar 20, 2023, 11:49 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Callie

4 months ago

Just to clarify, liabilities are obligations to pay.

upvoted 0 times

...

Felicitas

4 months ago

C seems off to me, not sure it qualifies as a liability.

upvoted 0 times

...

Anastacia

4 months ago

Wait, isn't A a liability too?

upvoted 0 times

...

Kimberlie

4 months ago

I think D is also a liability, right?

upvoted 0 times

...

Abel

4 months ago

B is definitely a liability since it's an amount due.

upvoted 0 times

...

Dacia

5 months ago

I feel like option B might be tricky because it's for goods not yet received, but I think it still qualifies as a liability under certain conditions.

upvoted 0 times

...

Ressie

5 months ago

I practiced a similar question where timing was key, but I can't recall if amounts due for future purchases count as liabilities.

upvoted 0 times

...

Kimi

5 months ago

I think option D makes the most sense since it refers to an amount due for goods already received, which aligns with the definition of a liability.

upvoted 0 times

...

Tamera

5 months ago

I remember that liabilities are obligations, but I'm not sure if the timing of the payment matters for this question.

upvoted 0 times

...

Queen

5 months ago

This question seems pretty straightforward. I think the key is to focus on the differences between the two invoice entry methods.

upvoted 0 times

...

Lyda

5 months ago

Hmm, I'm a bit unsure here. I'm torn between A and D. I think getting the product owner to explain the vision and review the release plan could also be really helpful.

upvoted 0 times

...

Frederica

5 months ago

I think this is a pretty straightforward question. The key is understanding the SAML authentication flow and how Okta's end user dashboard works.

upvoted 0 times

...