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CIMA Updated F2 Exam Questions and Answers by colin

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CIMA F2 Exam Overview :

Exam Name: F2 Advanced Financial Reporting
Exam Code: F2 Dumps
Vendor: CIMA Certification: CIMA Management
Questions: 268 Q&A's Shared By: colin
Question 32

Which of the following should be eliminated when using the equity method to account for associates in a parent's financial statements?

Select ALL that apply.

Options:

A.

Unrealised profits

B.

Dividends from associates

C.

Intra-group balances and transactions

D.

Goodwill payments

Discussion
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Question 33

Which THREE of the following would typically indicate a finance lease?

Options:

A.

An asset with a useful life of ten years is being leased for ten years.

B.

The lessor is responsible for the annual maintenance of the asset.

C.

The lessee has the option to buy the asset at the end of the lease for $1.

D.

The lease contract for an asset includes an upgrade to the asset every two years.

E.

A leased asset has been specifically modified for the lessee's use.

Discussion
Question 34

Which of the following are limitations of financial statement figures for ratio analysis? Select the ALL that apply.

Options:

A.

Only provides historic data

B.

Only provides financial information

C.

Limited information to identify trends over time

D.

Provide only summarised information

E.

Contains complicated information that needs to be summarised

F.

Only provides forecast data

Discussion
Question 35

XY purchased $100,000 of quoted 8% bonds in the current year which it intends to hold until redemption.

Which of the following identifies the correct classification and subsequent measurement basis for this financial instrument?

Options:

A.

A loans and receivables financial asset subsequently measured at fair value with gains and losses in reserves.

B.

A held to maturity financial asset subsequently measured at amortised cost.

C.

A loans and receivables financial asset subsequently measured at amortised cost.

D.

A held to maturity financial asset subsequently measured at fair value with gains and losses in reserves.

Discussion
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