Cima 2cram all F2 Test Inside Cima Questions by Lilly-mae q50 vce pdf

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Exam Name:	F2 Advanced Financial Reporting
Exam Code:	F2 Dumps
Vendor:	CIMA	Certification:	CIMA Management
Questions:	268 Q&A's	Shared By:	lilly-mae

Question 28

AB sold the majority of its operating equipment to LM for cash on 30 December 20X9 and then immediately leased it back under an operating lease.

AB used the cash proceeds from the sale to reduce its long term borrowings significantly. No early repayment charge was levied by the lender.

Which of the following statements is true in respect of AB's ratios calculated at 31 December 20X9?

Options:

AB's return on capital employed would be lower as a result of this sale being recorded.

AB's current ratio would be lower as a result of this sale being recorded.

AB's non-current asset turnover would be lower as a result of this sale being recorded.

AB's gearing ratio would be lower as a result of this sale being recorded.

Discussion

Question 29

ST acquired 75% of the 2 million $1 equity shares of CD on 1 January 20X3, when the retained earnings of CD were S3,550,000. CD has no other reserves.

ST paid $5,600,000 for the shares in CD and the non controlling interest was measured at its fair value of S1,400,000 at acquisition.

At 1 January 20X3, the fair value of CD's net assets were equal to their carrying amount, with the exception of a building. This building had a fair value of $1,000,000 in excess of its carrying amount and a remaining useful life of 25 years on 1 January 20X3.

At 31 December 20X5, the retained earnings of ST and CD were $8,500,000 and $5,250,000 respectively.

What is the value of goodwill to be included in the consolidated statement of financial position of ST as at 31 December 20X5?

Options:

$450,000

$1,450,000

$950,000

$570,000

Discussion

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Question 30

Which of the following is a related party according to the definition of a related party in IAS24 Related Party Disclosures?

Options:

Major customer

Provider of finance

Managing Director

Major supplier

Discussion

Question 31

What is the total comprehensive income attributable to the shareholders of GHI that will be presented in GHI's consolidated statement of changes in equity for the year ended 31 December 20X4?

Options:

$2,780,000

$2,880,000

$2,875,000

$3,260,000

Discussion

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