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CIMA F1 Exam With Confidence Using Practice Dumps

Exam Code:
F1
Exam Name:
Financial Reporting
Certification:
CIMA Operational
Vendor:
CIMA
Questions:
248
Last Updated:
Dec 21, 2024
Exam Status:
Stable
CIMA F1

F1: CIMA Operational Exam 2024 Study Guide Pdf and Test Engine

Are you worried about passing the CIMA F1 (Financial Reporting) exam? Download the most recent CIMA F1 braindumps with answers that are 100% real. After downloading the CIMA F1 exam dumps training , you can receive 99 days of free updates, making this website one of the best options to save additional money. In order to help you prepare for the CIMA F1 exam questions and verified answers by IT certified experts, CertsTopics has put together a complete collection of dumps questions and answers. To help you prepare and pass the CIMA F1 exam on your first attempt, we have compiled actual exam questions and their answers. 

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Financial Reporting Questions and Answers

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Question 1

Below are extracts from LLL's financial statements for the year ended 31 December 20X2.

Depreciation of $25,000 was charged on properly, plant and equipment in the year and there were no disposals

What is the cash generated from operations for inclusion in LLL's statement of cash flows for the year ended 31 December 20X2?

Options:

A.

$355 000

B.

$390,000

C.

$415,000

D.

$435,000

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Question 2

Entity T operates within several countries, but its country of residence is Country F. In 20X5, Entity T made $8.4 million in Country M. Country M has a flat rate corporation tax of 5.9%.

Country F and Country M operate a double taxation treaty which uses a foreign tax credit system. In Country F, there is a tax of 10% tax on all foreign income.

Taking into account the credit, what is the total tax liability that Entity T owes on its Country M income, in Country F?

Options:

A.

$344,400

B.

$495,600

C.

$840,000

D.

$450,000

Question 3

Which THREE of the following must an auditor consider in order to form an opinion on the truth and fairness of an entity's financial statements?

Options:

A.

Whether the entity has kept proper accounting records.

B.

Whether the entity has complied with the relevant legislator requirements in respect of the necessary disclosures.

C.

Whether all the information and explanations necessary for the purposes of the audit have been received.

D.

Whether every transaction that underpins the financial statements has been correctly recorded.

E.

Whether the entity has been exposed to any fraud.

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