Cima braindumps2go f1 Leak Questions by Arianna q35 vce pdf

Page: 7 / 18

Exam Name:	Financial Reporting
Exam Code:	F1 Dumps
Vendor:	CIMA	Certification:	CIMA Operational
Questions:	248 Q&A's	Shared By:	arianna

Question 28

The following information relates to a single asset:

*Original cost of $186,000

*Estimated residual value of $6,000

*Expected useful life of 10 years

*Accumulated depreciation at 31 December 20X5 of $66,960

*Annual depreciation rate of 20% on a reducing balance basis

Calculate the amount of depreciation that should be charged to profit or loss for the year ended 31 December 20X6.

Give your answer to the nearest whole number.

Options:

Discussion

Question 29

On 1 January 20X2 an entity began work on constructing a factory. It purchased the land for $14 million, built the factory buildings for $11 million and installed plant and equipment for $7 million. The project was completed on 31 December 20X3 when the factory was deemed ready to use, however, the factory did not start operations until 1 June 20X4.

To fund the project the entity borrowed $25 million on 1 January 20X2, with interest at 10% per year.

The loan was repaid in full on 31 December 20X4.

Calculate the total amount to be added to the cost of property, plant and equipment in respect of the above development.

Give your answer to the nearest $ million.

Options:

Discussion

Freddy

I passed my exam with flying colors and I'm confident who will try it surely ace the exam.

Aleksander (not set)

Thanks for the recommendation! I'll check it out.

Nia

Why are these Dumps so important for students these days?

Mary (not set)

With the constantly changing technology and advancements in the industry, it's important for students to have access to accurate and valid study material. Cramkey Dumps provide just that. They are constantly updated to reflect the latest changes and ensure that the information is up-to-date.

Annabel

I recently used them for my exam and I passed it with excellent score. I am impressed.

Amirah (not set)

I passed too. The questions I saw in the actual exam were exactly the same as the ones in the Cramkey Dumps. I was able to answer the questions confidently because I had already seen and studied them.

Josie

I just passed my certification exam using their dumps and I must say, I was thoroughly impressed.

Fatimah (not set)

You’re right. The dumps were authentic and covered all the important topics. I felt confident going into the exam and it paid off.

Question 30

Which TWO of the following are features of a bank overdraft?

Options:

A fixed amount of interest is determined for the period of the overdraft

Repayments are scheduled in advance

The amount off overdraft utilised will fluctuate according to the needs off the borrowing entity.

The bank cannot demand repayment of the overdraft before the end of the agreed period.

Interest is charged on the balance outstanding.

Discussion

Question 31

Country J is a newly formed independent country and it's accounting professionals are considering adopting international financial reporting standards (IFRS).

Which of the following is a disadvantage to Country J of adopting IFRS as their local generally accepted accounting practice (GAAP)?

Options:

IFRS are quick to implement which reduces the costs involved.

Specific local variations that might be needed will not be accommodated.

Facilitates comparability with other countries who use IFRS as their local GAAP.

Easier to adopt standards which have already been developed.

Discussion

Page: 7 / 18

Title

Questions

Posted

cima.crack4sure.f1 actual questions.by ivar.q71.vce.pdf