CIMA Exam CIMAPRA17-BA3-1 Topic 4 Question 103 Discussion

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

Question #: 103
Topic #: 4

[All CIMAPRA17-BA3-1 Questions]

It underpins all accounting standards and provides the platform from which all future standards will be developed.

Which ONE of the following is described above?

AThe Companies Act

BThe Framework

CThe European Union

DThe International Financial Reporting Interpretation Committee

Show Suggested Answer

Suggested Answer: A

by Kasandra at Nov 19, 2024, 01:40 AM

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Lizbeth

15 days ago

The International Financial Reporting Interpretation Committee? Sounds like a committee that needs to interpret its own name first.

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Reuben

21 days ago

The European Union? Really? I thought they were more focused on banning weird-shaped bananas than accounting standards. B) The Framework, definitely.

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Loreta

2 days ago

I agree, the European Union is not really known for accounting standards.

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Chery

26 days ago

Hmm, let me think. The Companies Act? Nah, that's just for corporate bureaucrats. The Framework it is, the Holy Grail of the accounting world!

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Shaunna

8 days ago

Definitely, without the Framework, accounting standards would be all over the place.

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Yolande

13 days ago

I agree, it sets the foundation for all accounting standards.

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Leandro

20 days ago

Yeah, you're right! The Framework is like the bible for accountants.

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Dallas

1 months ago

B) The Framework, of course. It's the accounting equivalent of the Rosetta Stone - the key to understanding all those cryptic financial reports.

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Von

19 days ago

D) The International Financial Reporting Interpretation Committee plays a role, but the Framework is the basis for all standards.

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Jackie

28 days ago

A) The Companies Act is important too, but the Framework is the foundation.

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Alonso

2 months ago

The Framework? That's a no-brainer! It's the foundation of all accounting standards, like a superhero cape for the bean counters.

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Lorita

9 days ago

Definitely! It sets the stage for all future standards to follow.

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Lavonne

13 days ago

Yes, you're right! The Framework is like the backbone of accounting standards.

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Arlette

2 months ago

I think it's important to understand the Framework in order to apply accounting standards correctly.

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Lashawn

2 months ago

I agree with Elinore, the Framework is the foundation for accounting standards.

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Elinore

2 months ago

B) The Framework

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