CIMA CIMAPRA17-BA3-1 Dumps PDF Free Download

QUESTION: 46

Which ONE of the following is a possible explanation for a debit balance on the purchase ledger account of a supplier?

(i) An invoice has been posted twice

(ii) A credit note has been posted twice

(iii) A payment has been recorded against the wrong supplier account

(iv) A payment has been posted twice

(v) A contra was posted to the supplier account but not the customer account
(vi) Goods returned had been posted to the wrong supplier account

(i) and (ii) only
(iii) and (iv) only
(i), (ii) and (iv) only
(ii), (iii) and (iv) only
(i), (ii) and (v) only
(iii), (iv) and (vi) only

Answer(s): D

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QUESTION: 47

Accounting standards are needed so that financial statements will fairly and consistently describe financial performance.

What are accounting standards an example of?

Principles based accounting
Cash accounting
Cost accounting
Rules based accounting

Answer(s): D

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QUESTION: 48

Which ONE of the following does the Statement of Cash Flows show:

The assets, equity and liabilities of a business
The revenue and expenses of a business over a period of time
The cash usage of a business over a period of time
Notes to go with the statements that explain the practices used

Answer(s): C

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QUESTION: 49

An invoice to Sammy has been entered in the sales day book as $85 instead of $58.

To correct the position, which of the following procedures should be adopted?

Debit Receivables $27, Credit Sales $27 and increase the balance owing by Sammy
Debit Receivables $27, Credit Sales $27 and decrease the balance owing by Sammy
Debit Sales $27, Credit Receivables $27 and increase the balance owing by Sammy
Debit Sales $27, Credit Receivables $27 and decrease the balance owing by Sammy

Answer(s): D

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QUESTION: 50

Under the normal convention of accounting, assets are shown in the balance sheet at:

Their current market value
Their cost value
The current cost to the firm of replacing them
Their economic value to the firm

Answer(s): B

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CIMA BA3 - Fundamentals of Financial Accounting CIMAPRA17-BA3-1 Dumps in PDF

Free CIMA CIMAPRA17-BA3-1 Real Questions (page: 10)

QUESTION: 46

QUESTION: 47

QUESTION: 48

QUESTION: 49

QUESTION: 50