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CIMAPRA19-F02-1 Exam - Topic 2 Question 98 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam
Question #: 98
Topic #: 2
[All CIMAPRA19-F02-1 Questions]

Which of the following principles are the basic principles followed by the consolidated income statement?

Select ALL that apply.

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Suggested Answer: A

by Larae at Sep 16, 2024, 09:14 PM

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Diane
4 months ago
Consolidated income statements include all income and expenses from both parent and subsidiaries.
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Phil
5 months ago
E is not a principle for consolidated statements, just FYI.
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Evangelina
5 months ago
Wait, is D really a thing? That sounds off.
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Ricki
5 months ago
I disagree with B, investment income should be included.
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Quentin
5 months ago
A and C are definitely correct!
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Joaquin
6 months ago
D seems wrong to me, but I’m not entirely confident about E either. I think we shouldn't include that investment income.
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Werner
6 months ago
I feel like C might be right too, but I can't recall if we always have to show that profit split.
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Shizue
6 months ago
I remember practicing a question similar to this, and I think B is correct because we usually ignore that investment income in consolidated statements.
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Leoma
6 months ago
I think option A is definitely one of the principles, but I'm not sure about the others.
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Dierdre
6 months ago
I'm not entirely sure about this one. I think the key principles are A, B, and C, but I'm a bit uncertain about whether investment income should be included or not. I'll need to double-check my understanding of consolidation.
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Loreta
6 months ago
Okay, I've got this. The basic principles are A, C, and E. The consolidated income statement includes all income and expenses of the parent and subsidiaries, shows the profit split between parent and other shareholders, and includes investment income from the subsidiary to the parent.
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Beula
6 months ago
This looks like a tricky question on consolidated financial statements. I'll need to carefully review the principles of consolidation to determine which ones are the basic ones followed in the consolidated income statement.
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Dorothy
6 months ago
Hmm, I'm a bit confused by the wording of the question. I'll need to think through each of the options carefully to figure out which ones are the core principles. Consolidation can get pretty complex.
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Lonna
11 months ago
Alright, time to put my consolidated income statement expertise to the test! I'm confident that A, C, and E are the correct answers. Now if only I could remember the difference between a parent and a subsidiary. Ah, the joys of accounting...
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Dottie
10 months ago
That's correct! The consolidated income statement combines the financial results of both the parent and subsidiary companies.
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Domonique
10 months ago
Remember, the parent company owns the subsidiary company.
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Clorinda
10 months ago
I think you're right! A, C, and E are the correct principles to follow.
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Aimee
12 months ago
Haha, this question is a real brain-teaser! I'm tempted to just choose all the options and see what happens. But seriously, I think A, C, and E are the way to go. Gotta love those tricky accounting principles, am I right?
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Alfreda
10 months ago
Let's go with A, C, and E then. Good choices!
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Susy
10 months ago
Yeah, those accounting principles can be tricky to navigate.
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Tamar
10 months ago
I think you're on the right track with A, C, and E.
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Fidelia
10 months ago
I agree, this question is definitely a brain-teaser!
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Glendora
10 months ago
I'm glad we're on the same page. Let's hope we got it right!
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Gladis
10 months ago
Yeah, those principles can definitely be confusing. But I agree with your choices.
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Kristal
11 months ago
I think A, C, and E are correct too. Accounting can be tricky!
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Olga
12 months ago
Wow, this question is really testing our knowledge of consolidated financial statements! I'm pretty sure A, C, and E are the right answers, but I'm a little unsure about B and D. Guess I'll have to brush up on my accounting rules before the exam.
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Alfreda
12 months ago
I think options A, C, and E are the correct principles. The consolidated income statement should include all of the parent's and subsidiaries' income and expenses, show the profit split between the parent's shareholders and other shareholders, and include investment income from subsidiary to parent.
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Becky
11 months ago
I think you're right, those principles make sense for a consolidated income statement.
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Becky
11 months ago
I agree, options A, C, and E are the correct principles to follow.
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Marshall
12 months ago
Hmm, that makes sense too. Let's review the principles again to make sure we understand them correctly.
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Skye
12 months ago
I disagree, I believe the correct answer is C) After profit for the period, show the profit split between amounts attributable to the parent's shareholders and other shareholders.
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Marshall
1 year ago
I think the answer is A) Include all of the parent's income and expenses plus all of the subsidiaries' income and expenses.
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