CIMAPRA17-BA3-1 Exam

Certification Provider: CIMA

Exam Name: BA3 - Fundamentals of Financial Accounting

Number of questions in our database: 393

Exam Version: May. 25, 2023

CIMAPRA17-BA3-1 Exam Official Topics:

Topic 1: Single Topic

Free CIMA CIMAPRA17-BA3-1 Exam Actual Questions

The questions for CIMAPRA17-BA3-1 were last updated On May. 25, 2023

Question #1

Before lending to an entity, which TWO of the following pieces of information would a potential lender want to consider?

APast tax payments made by the entity

BSocial policies of the entity

CDividend policy of the entity

DAbility of the entity to meet interest payments

ELong term business plans of the entity

Reveal Solution

Correct Answer: D, E

Question #2

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

Reveal Solution

Correct Answer: B

Question #3

GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

AThe total spend of $185

BThe float total of $250.

CThe total of the float and total spend of $435

DThe difference between the float and total spend of $65

Reveal Solution

Correct Answer: A

Question #4

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

Reveal Solution

Correct Answer: B

Question #5

GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

AThe total spend of $185

BThe float total of $250.

CThe total of the float and total spend of $435

DThe difference between the float and total spend of $65

Reveal Solution

Correct Answer: A

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