New Year Special 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

CIMA Certificate Changed BA3 Questions

Page: 9 / 15
Total 393 questions

Fundamentals of Financial Accounting Questions and Answers

Question 33

Accounting codes have proven to be very useful when recording business transactions.

Which THREE of the following does a coding system help to do?

Options:

A.

Reduce the number of transactions recorded

B.

Improve the quality of reports

C.

Reduce time taken to analyze transaction

D.

Take away the need for books of prime entry

E.

Combine roles for the receivables and payables ledger

F.

Extract balances for suppliers and customers

Question 34

In which section of the statement of cash flow would cash from share issues be included? Select one of the following

Statement of cash How for the year ended.......

Options:

Question 35

An invoice for electricity has been debited to the supplier's account and credited to the electricity account. This would result in:

Options:

A.

An overstatement of profit and an overstatement of current liabilities

B.

An overstatement of profit and an understatement of current liabilities

C.

An understatement of profit and an overstatement of current liabilities

D.

An understatement of profit and an understatement of current liabilities

Question 36

The accounting concept which states that non-current assets should be valued at cost (or valuation) less accumulated depreciation, rather than their saleable value in the event of closure, is the.

Options:

A.

Net realisable value concept

B.

Realisation concept

C.

Prudence concept

D.

Going concern concept

Page: 9 / 15
Total 393 questions