CIMA Certificate BA3 Syllabus Exam Questions Answers

Fundamentals of Financial Accounting Questions and Answers

Question 45

Refer to the Exhibit.

From the following information, calculate the value of sales for the period:

Value of sales is

Question 46

Before lending to an entity, which TWO of the following pieces of information would a potential lender want to consider?

Past tax payments made by the entity

Social policies of the entity

Dividend policy of the entity

Ability of the entity to meet interest payments

Long term business plans of the entity

Question 47

A company has total equity of $350,000 and a 5% debenture of $150,000. The net profit before interest for the period was $60,000.

The return on equity is

12%

17.14%

15%

10.5%

Question 48

Life membership fees payable to a club or society are usually dealt with by:

Crediting the total received to the income and expenditure account in the year in which they are received

Debiting the total received to the income and expenditure account in the year in which they are received

Debiting the total received to a Life Memberships account and transferring a proportion each year to the income and expenditure account

Crediting the total received to a Life Memberships account and transferring a proportion each year to the income and expenditure account