Spring Sale 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

F1 Exam Dumps : Financial Reporting

PDF
F1 pdf
 Real Exam Questions and Answer
 Last Update: Mar 16, 2026
 Question and Answers: 248 With Explanation
 Compatible with all Devices
 Printable Format
 100% Pass Guaranteed
$59.7  $199
F1 exam
PDF + Testing Engine
F1 PDF + engine
 Both PDF & Practice Software
 Last Update: Mar 16, 2026
 Question and Answers: 248
 Discount Offer
 Download Free Demo
 24/7 Customer Support
$74.7  $249
Testing Engine
F1 Engine
 Desktop Based Application
 Last Update: Mar 16, 2026
 Question and Answers: 248
 Create Multiple Test Sets
 Questions Regularly Updated
  90 Days Free Updates
  Windows and Mac Compatible
$67.5  $225

Verified By IT Certified Experts

CertsTopics.com Certified Safe Files

Up-To-Date Exam Study Material

99.5% High Success Pass Rate

100% Accurate Answers

Instant Downloads

Exam Questions And Answers PDF

Try Demo Before You Buy

Certification Exams with Helpful Questions And Answers

Financial Reporting Questions and Answers

Question 1

ABC uses an aggressive approach to managing its working capital. XYZ uses a conservative approach to managing its working capital.

Which of the following is ABC more at risk of compared to XYZ?

Options:

A.

Inventory obsolescence

B.

Running out of cash

C.

High finance costs

D.

Receivables not paying on time

Buy Now
Question 2

Which of the following would be classified as a parent and subsidiary relationship in accordance with IFRS 10 Consolidated Financial Statements?

Options:

A.

Entity A owns 30% of another entity's equity shares and has the power to appoint or remove the majority of the members of the board of directors and control of the entity is through that board.

B.

Entity B owns 20% of another entity's equity shares and has an agreement with other equity shareholders of that entity that gives it power over a further 20% of the equity voting rights.

C.

Entity C owns 45% of another entity's equity shares and can exercise significant influence over that entity's financial and operating policy decisions.

D.

Entity D owns 25% of another entity's equity shares and associated voting rights and 100% of its preference shares.

Question 3

Statements of financial position for YZ, BC and DE at 31 March 20X2 include the following balances:

YZ purchased 90% of BC's equity shares for $508,000 on 1 January 20X2. On 1 January 20X2 BC's retained earnings were $183,000. YZ uses the proportion of net assets method to value non-controlling interest at acquisition.

YZ purchased 30% of DE's equity shares on 1 April 20X1 for $112,000. DE's retained earnings at 1 April 20X1 were $88,000.

On 1 February 20X2 YZ sold goods to BC for $28,000 at a mark up of 25% on cost. All the goods were still in BC's inventory at 31 March 20X2.

Calculate the amount of the non-controlling interest to be included in YZ's consolidated statement of financial position at 31 March 20X2.

Give your answer to the nearest whole $.

Options: