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CIMAPRA19-F02-1 Exam - Topic 1 Question 66 Discussion

Which of the following statements are incorrect regarding identifiable assets? Select ALL that apply.
B) Contingent assets and liabilities are examples of exceptions to the rules governing identifiable assets
A) Deferred tax assets and liabilities are not classed as identifiable assets
C) To be identifiable assets must be separable from the subsidiary
D) Assets can also be identifiable if they arise from contractual or legal rights
E) Net assets must be identifiable at acquisition

CIMAPRA19-F02-1 Exam - Topic 1 Question 66 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam
Question #: 66
Topic #: 1
[All CIMAPRA19-F02-1 Questions]

Which of the following statements are incorrect regarding identifiable assets? Select ALL that apply.

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Suggested Answer: B

by Van at Feb 25, 2023, 09:52 AM

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Effie
10 months ago
E seems off, can net assets really not be identifiable at acquisition?
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Weldon
10 months ago
C is misleading, they don't have to be separable from the subsidiary.
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Sarah
10 months ago
Wait, I thought contingent liabilities were identifiable too?
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Rory
11 months ago
Totally agree with D, legal rights definitely count!
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Daryl
11 months ago
A is correct, deferred tax assets are not identifiable.
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Orville
11 months ago
I recall that option D is true since assets can indeed be identifiable if they come from contractual or legal rights, but I'm a bit confused about option E.
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Coral
11 months ago
I practiced a question similar to this, and I think option C is incorrect because identifiable assets don't necessarily have to be separable from the subsidiary.
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Lamar
11 months ago
I'm not sure about option B; I feel like contingent assets and liabilities are sometimes included in discussions about identifiable assets, but I could be wrong.
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Ryan
11 months ago
I think option A might be correct because I remember that deferred tax assets and liabilities are usually not considered identifiable assets.
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Sherill
11 months ago
Wait, is payment fraud prevention really a Dynamics 365 Finance feature? I'm not sure about that one. I better double-check the module capabilities before answering.
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Rebecka
11 months ago
This looks like a straightforward VMware Cloud Director question. I'll start by reviewing the options and thinking through the logical steps required to enable east/west firewall.
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Kristal
11 months ago
If I recall correctly, switching from FIFO to weighted-average typically results in lower retained earnings due to higher cost of goods sold. I feel like it's around a $5,000 decrease.
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Nikita
11 months ago
I practiced a similar question, and I believe the static route should be defined first before applying the route map. Just need to recall the command syntax.
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Karon
1 year ago
Wait, are we supposed to be identifying the incorrect statements? This is like a double negative puzzle. I need some coffee before I tackle this one.
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Lindsey
1 year ago
Ha! I bet the exam writers were trying to trip us up with that one. Of course, assets can be identifiable if they arise from contractual or legal rights. Option D is the clear winner here.
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Brunilda
1 year ago
Definitely, it's important to pay attention to the details when it comes to identifying assets.
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Audry
1 year ago
Yeah, the exam writers like to throw in tricky statements. Good thing we caught that one.
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Beth
1 year ago
Definitely, it's important to pay attention to the details when it comes to identifying assets.
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Cherilyn
1 year ago
I agree, option D is definitely correct. Assets can be identifiable if they arise from contractual or legal rights.
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Wilbert
1 year ago
Yeah, the exam writers always try to trick us with tricky statements. Good thing we caught that one.
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Kate
1 year ago
I agree, option D is definitely correct. Assets can be identifiable if they arise from contractual or legal rights.
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Lai
1 year ago
I'm a bit confused about option E. Isn't it true that net assets, not just individual assets, must be identifiable at acquisition? This seems like a tricky question.
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Sharen
1 year ago
C) To be identifiable assets must be separable from the subsidiary
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Geraldine
1 year ago
B) Contingent assets and liabilities are examples of exceptions to the rules governing identifiable assets
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Cassandra
1 year ago
A) Deferred tax assets and liabilities are not classed as identifiable assets
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Carmen
1 year ago
Options B and C seem to be the correct answers. Contingent assets and liabilities are exceptions, and assets must be separable to be considered identifiable.
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Shoshana
1 year ago
I disagree. I believe C and E are the incorrect statements.
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Kiley
1 year ago
I agree with Jacquline. A and B don't seem right to me.
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Jacquline
1 year ago
I think A and B are incorrect.
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Jessenia
1 year ago
I think option A is incorrect because deferred tax assets and liabilities are considered identifiable assets and liabilities under IFRS 3.
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Oneida
1 year ago
D) Assets can also be identifiable if they arise from contractual or legal rights
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Oneida
1 year ago
A) Deferred tax assets and liabilities are not classed as identifiable assets
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