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CIMA Updated BA3 Exam Questions and Answers by henri

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CIMA BA3 Exam Overview :

Exam Name: Fundamentals of financial accounting
Exam Code: BA3 Dumps
Vendor: CIMA Certification: CIMA Certificate
Questions: 393 Q&A's Shared By: henri
Question 8

Non-current assets can be divided between intangible and tangible assets.

Which THREE of the following are intangible assets?

Options:

A.

Research and development

B.

Buildings

C.

Plant

D.

Goodwill

E.

Patent

F.

Land

Discussion
Question 9

A company's financial statements show a gross profit of $15 million. A major error in the inventory value system has been discovered resulting in an overstatement on opening inventory of $1.2 million and an understatement in closing inventory of $1.5 million.

What is the correct gross profit figure for the period?

Options:

A.

$17.7 million

B.

$15.3 million

C.

$14.7 million

D.

$12.3 million

Discussion
Question 10

Accounting codes are often used within a business.

Which of the following would describe the reason for this?

Options:

A.

To ensure all transaction are listed in a logical order

B.

To ensure transactions are recorded in date order

C.

To group like transactions to generate useful information

D.

To group transactions on the same date

Discussion
Question 11

Refer to the exhibit.

Questions 11

The following information is available in respect of two companies that operate in the same market sector:

Which one of the following statements most accurately describes the companies' relative position?

Options:

A.

Company A has the shortest working capital cycle and the best control on both inventories and payables.

B.

Company B has the shortest working capital cycle and the best control on both inventories and payables.

C.

Company A has the shortest working capital cycle and the best control on inventories.

D.

Company B has the shortest working capital cycle and the best control on payables and receivables.

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