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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
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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.

Discussion
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