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CIMA Updated BA3 Exam Questions and Answers by kenza

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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: kenza
Question 24

The valuation of inventory in a manufacturing company will consist of:

Options:

A.

Direct material and direct labor only

B.

Direct material, direct labor and direct expenses only

C.

All direct costs plus a share of production overheads

D.

All direct costs plus a share of production and non-production overheads

Discussion
Question 25

External auditors report their opinion to the members of the company after their independent examination of the financial statements.

Which THREE of the following should be included in their opinion?

Options:

A.

If the statement of financial position gives a true and fair view

B.

If the company is successful

C.

If the financial statements have been prepared in accordance with legislation

D.

If the financial statements have been prepared by a qualified accountant

E.

If the income statement gives a true and fair view

F.

If the financial statements are free from fraud

Discussion
Question 26

Refer to the Exhibit.

Questions 26

Accounting information is required for a wide range of users both internal and external. Each user has a different need for the information.

Which of the following is the correct combination of user and need?

Options:

A.

A

B.

B

C.

C

D.

D

Discussion
Question 27

Accounting records should be kept by all businesses for many reasons.

Which THREE of the following are reasons for keeping accounting records?

Options:

A.

Aids the efficient running of a business

B.

Indicates how successfully managers are performing

C.

To aid the application of bank loans

D.

To reassure employees

E.

Provides information about the resources and activities of a business

F.

In case of potential takeovers

Discussion
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