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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 91 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 91
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

Which ONE of the following is an asset?

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Suggested Answer: B

by Annamae at Jun 30, 2024, 02:24 PM

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Cheryl
14 days ago
The only asset I see here is the opportunity to learn from this experience and become a better accountant. Or maybe just a better Cheryl.
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Sherita
17 days ago
This is a real head-scratcher. I'm just going to guess and hope for the best. Maybe I should have studied more accounting puns to prepare for this kind of question.
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Frank
15 hours ago
A) Sales tax paid on an item
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Silva
21 days ago
I'm going with B. It's the only one that actually represents something the business can use or sell, even if it's just temporarily holding the sales tax before remitting it to the government.
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Malcom
1 months ago
Hmm, I'm not so sure. Isn't a sales tax paid an expense, not an asset? This exam question is tricky!
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Mabelle
14 days ago
C) Sales tax exempt from an item
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Jamey
22 days ago
B) Sales tax received from the sale of an item
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Marnie
23 days ago
A) Sales tax paid on an item
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Kris
1 months ago
I'm pretty sure an asset is something of value that the business owns, not a tax payment or exemption. B seems to be the right answer here.
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Brunilda
3 days ago
So, sales tax received from the sale of an item would be considered an asset.
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Tammara
9 days ago
I agree, an asset is something valuable that the business owns.
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Denae
23 days ago
I think B is the correct answer.
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Irma
2 months ago
I agree with Catina, B) Sales tax received from the sale of an item is an asset because it's money coming in.
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Ressie
2 months ago
I disagree, I believe the answer is A) Sales tax paid on an item because it's a liability.
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Catina
2 months ago
I think the answer is B) Sales tax received from the sale of an item.
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