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CIMAPRA19-F01-1 Exam - Topic 3 Question 48 Discussion

ST has $20,000 of plant and machinery which was acquired on 1 April 20X0. Tax depreciation rates on plant and machinery are 20% reducing balance. All plant and machinery was sold for $12,000 on 1 April 20X2.Calculate the tax balancing allowance or charge on disposal for the year ended 31 March 20X3 and state the effect on the taxable profit.
B) A balancing allowance of $800 will reduce taxable profits.
A) A balancing allowance of $800 will increase taxable profits.
C) A balancing charge of $800 will increase taxable profits.
D) A balancing charge of $800 will reduce taxable profits.

CIMAPRA19-F01-1 Exam - Topic 3 Question 48 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 48
Topic #: 3
[All CIMAPRA19-F01-1 Questions]

ST has $20,000 of plant and machinery which was acquired on 1 April 20X0. Tax depreciation rates on plant and machinery are 20% reducing balance. All plant and machinery was sold for $12,000 on 1 April 20X2.

Calculate the tax balancing allowance or charge on disposal for the year ended 31 March 20X3 and state the effect on the taxable profit.

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Suggested Answer: B

by Valentin at May 07, 2022, 05:37 PM

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Elenore
10 months ago
I thought it was supposed to be a balancing allowance, not a charge.
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Clement
10 months ago
Balancing allowance reduces profits, not increases!
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Mammie
11 months ago
Wait, how does a charge increase profits?
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Roselle
11 months ago
Definitely, it's a charge of $800.
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Carma
11 months ago
A balancing charge means taxable profits go up.
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Twila
11 months ago
This looks like a pretty straightforward networking question. I'll focus on understanding the key details about the Initial Setup Wizard and the different types of ports it configures.
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Dominque
11 months ago
Hmm, this one's tricky. The question mentions that there might be multiple correct solutions, so I'll need to be careful in my analysis. I'll start by making sure I understand the current setup and the problem statement, then I'll consider the proposed solution and whether it's the best approach.
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Shala
11 months ago
I'm pretty sure the answer is B - they don't just provide services to Tier 1 providers, they serve a wider range of ISPs and networks.
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Sherron
11 months ago
Hmm, I'm a bit confused on this one. I'll need to think through the different stages of the test process to figure out when requirement testability is assessed.
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Youlanda
11 months ago
I feel pretty good about this one. The leads that have been blacklisted seem like the most likely to receive a non-operational email, so I'm going to go with option C.
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Luther
11 months ago
This seems like a straightforward question about transit privileges. I'll read through the options carefully and think about the key characteristics of a transit privilege.
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