CIMAPRA19-F02-1 Exam - Topic 1 Question 18 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam

Question #: 18
Topic #: 1

When accounting for a finance lease under IAS 17 Leases, which TWO of the following are recognised in the statement of profitor loss?

AFinance cost element of the lease payments

BDepreciationof the leased asset

CLease payments paid

DLease payments payable

ECapital repayment element of the lease payments

Show Suggested Answer

Suggested Answer: A, B

by Yolando at May 08, 2022, 07:52 PM

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Steffanie

4 months ago

I thought lease payments payable would be included too.

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Becky

4 months ago

C is not right, only A and B count.

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Maynard

4 months ago

Wait, are lease payments not recognized? That's surprising!

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Hassie

4 months ago

Totally agree with A and B!

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Julian

5 months ago

A and B are correct!

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Olive

5 months ago

I've got this! The object used to model a client in Financial Services Cloud is Person Account. That's the one designed for individual customers, right?

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Amber

5 months ago

The part about not being able to return to the question is a bit concerning. I'll need to make sure I get this right the first time.

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Sheridan

5 months ago

Okay, the question is asking about an act that gives consumers rights related to email spam. I'm pretty sure the CAN-SPAM Act is the right answer, but I'll double-check my notes just to be sure.

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