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.

ADeferred tax assets and liabilities are not classed as identifiable assets

BContingent assets and liabilities are examples of exceptions to the rules governing identifiable assets

CTo be identifiable assets must be separable from the subsidiary

DAssets can also be identifiable if they arise from contractual or legal rights

ENet assets must be identifiable at acquisition

Show Suggested Answer

Suggested Answer: B

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

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Effie

5 months ago

E seems off, can net assets really not be identifiable at acquisition?

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Weldon

5 months ago

C is misleading, they don't have to be separable from the subsidiary.

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Sarah

6 months ago

Wait, I thought contingent liabilities were identifiable too?

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Rory

6 months ago

Totally agree with D, legal rights definitely count!

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Daryl

6 months ago

A is correct, deferred tax assets are not identifiable.

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Orville

6 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

6 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

6 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

6 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

6 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

6 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

6 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

6 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

11 months 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

11 months 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

10 months ago

Definitely, it's important to pay attention to the details when it comes to identifying assets.

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Audry

10 months ago

Yeah, the exam writers like to throw in tricky statements. Good thing we caught that one.

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Beth

10 months ago

Definitely, it's important to pay attention to the details when it comes to identifying assets.

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Cherilyn

10 months 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

10 months ago

Yeah, the exam writers always try to trick us with tricky statements. Good thing we caught that one.

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Kate

10 months 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

11 months 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

10 months ago

C) To be identifiable assets must be separable from the subsidiary

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Geraldine

10 months ago

B) Contingent assets and liabilities are examples of exceptions to the rules governing identifiable assets

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Cassandra

10 months ago

A) Deferred tax assets and liabilities are not classed as identifiable assets

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Carmen

12 months 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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