Name: CIMA CIMAPRA17-BA3-1 Exam
Brand: Pass4Success
SKU: CIMAPRA17-BA3-1
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Tequila

21 days ago

Just passed the CIMA BA3 exam! Watch out for questions on double-entry bookkeeping, especially adjusting entries. Make sure you can quickly identify which accounts are affected and how to record them. Thanks to Pass4Success for the spot-on practice questions that helped me prepare efficiently!

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Free CIMA CIMAPRA17-BA3-1 Exam Actual Questions

Note: Premium Questions for CIMAPRA17-BA3-1 were last updated On Jul. 19, 2024 (see below)

Question #1

Which of the following would meet the definition of a liability in accordance with the Conceptual Framework's definition?

AAn amount due from a customer for goods dispatched two weeks ago

BAn amount due to a supplier for goods to be purchased in one month's time

CAn amount which was paid to a supplier in relation to a dispute

DAn amount due to a supplier for goods purchased one month ago

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Correct Answer: B

Question #2

VWX is registered for sales tax in Country B A sales invoice to its mam customer shows the following information:

What journal entry will WVX process to record this transaction in its nominal ledger?

AOption A

BOption B

COption C

DOption D

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Correct Answer: B

Question #3

Which of the following would meet the definition of a liability in accordance with the Conceptual Framework's definition?

AAn amount due from a customer for goods dispatched two weeks ago

BAn amount due to a supplier for goods to be purchased in one month's time

CAn amount which was paid to a supplier in relation to a dispute

DAn amount due to a supplier for goods purchased one month ago

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Correct Answer: B

Question #4

AB wrote off a $500 debt owed by CD last year During the current year CD has paid the $500 in full AB has debited the bank account with S500.

Where would the credit entry for this receipt be recorded?

AAllowance for receivables

BIrrecoverable debts expense

CSates ledger control account

DReceivables account of CD

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Correct Answer: B

Question #5

In the year ended 31 December 20X1, XYZ receives an email confirming that a major customer has gone into liquidation and will be unable to pay its suppliers.

Which of the following is the impact of adjusting for this event?

AProfits increase and allowance increases.

BReceivables decrease and allowance increases

CReceivables unchanged and profits decrease

DReceivables decrease and profits decrease

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Correct Answer: D

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