CIMAPRA19-F01-1 Exam - Topic 3 Question 38 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam

Question #: 38
Topic #: 3

In Country X, trading losses in any year can be carried back and set off against trading profits in the previous year, with any unrelieved losses carried forward to set against the first available trade profits in future years.

GH had the following taxable profits and losses in years 20X1 to 20X4:

What are the taxable profits for 20X4, assuming the most efficient use of the loss is made?

A$65,000

B$95,000

C$100,000

D$70,000

Show Suggested Answer

Suggested Answer: B

by Belen at May 07, 2022, 09:51 PM

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Aleisha

4 months ago

Not sure about that, I feel like there’s more to consider here.

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Shaniqua

4 months ago

I think the answer is $95,000 based on the profits.

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Celestina

4 months ago

Wait, can you really carry losses forward AND back? Sounds too good!

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Willetta

4 months ago

Totally agree, that's a smart way to manage taxes!

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Elvis

5 months ago

You can carry back losses to the previous year, right?

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Cherry

5 months ago

I feel confident that Tier 1 includes the Information Servers, but I'm not sure about the other components. I'll have to double-check my understanding.

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Rasheeda

5 months ago

Hmm, this is a tricky one. I'm not entirely sure which area would require the greatest level of understanding from the executives. I'll have to think through each option carefully to determine the best answer.

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Harrison

5 months ago

Ah, this is a good one. The key here is understanding that the Auto-Redaction feature is about automating the redaction process, not just navigating through redactions or ensuring new documents are redacted. I'll go with option C.

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Jolene

5 months ago

I remember a practice question where it was about installing the server certificate for users; that might be a consideration here too, but I'm uncertain.

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