All BA3 Test Inside CIMA Questions

Which THREE of the following are subsidiary bodies of the IFRS Foundation?

ABC Limited had a gross profit margin of 55%, while a direct competitor, XYZ Limited, has a gross profit margin of 60%.

Which THREE of the following would be an acceptable explanation for this?

AB sells two products ,X and Y. The following information was available at AB’s year-end, 31 December 20X6:

At 31 December 20X6 AB held 800 units of Product X and 400 units of Product Y

What is the value that will be included in inventories in AB's statement of financial position as at 31 December 20X6?

A company uses the reduced balance method of depreciation for its company vehicles. The vehicles are depreciated at a rate of 30% per annum.

On 31 March 2003 the company purchased a number of vehicles with a total cost of $200,000. The company's year-end is 31 December and it is company policy to charge a full year's depreciation in the year of acquisition.

The carrying value of the vehicles at 31 December 2006 will be