Free Online CIMA CIMAPRA19-F02-1-ENG Practice Test

Prepare Your CIMA CIMAPRA19-F02-1-ENG Exam Questions with Free online CIMAPRA19-F02-1-ENG Practice Test. Get Brilliant F2 Advanced Financial Reporting (Online) Exam Results with Valid CIMAPRA19 F02 1 ENG Exam Dumps.

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Total 270 Questions | Updated On: May 13, 2024

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Question 1

When accounting for a finance lease under IAS 17 Leases, which TWO of the following are recognised in the statement of profitor loss?

A : Finance cost element of the lease payments

B : Depreciationof the leased asset

C : Lease payments paid

D : Lease payments payable

E : Capital repayment element of the lease payments

Answer: A,B

Question 2

AB owned 80% of the equity share capital of FG at 1 January 20X6. AB disposed of 10% of FG's equity share capital on 31 December 20X6 for $400,000. The non controlling interest was measured at $700,000 immediately prior to the disposal.

Which of the following represents the adjustment that AB made to non controlling interest in respect of the disposal when it prepared its consolidated financial statements at 31 December 20X6?

A : Credit of $350,000

B : Debit of $400,000

C : Debit of $350,000

D : Credit of $50,000

Answer: A

Question 3

AB's financial information shows that thenon current assets' carrying value is greater than the tax base at the year end.

What is the journal entry to record the movement in the provision for deferred tax resulting from this difference?

A : Dr Deferred tax provisionCr Tax expense

B : Dr Deferred tax provisionCr Other comprehensive income

C : Dr Tax expenseCr Deferred tax provision

D : Dr Other comprehensive incomeCr Deferred tax provision

Answer: C

Question 4

Information from the financial statements of RST for the year ended 30 April 20X9 is as follows:

At 30 April 20X9 the ordinary shares are trading at $4.75.

What is the price earnings (P/E) ratio for RST at 30 April 20X9?

A : 15.83

B : 7.92

C : 10.56

D : 9.31

Answer: A

Question 5

RS has issued an instrument with a nominal value of $1 million, at a discount of 2.5%, and a coupon rate of 6%. The terms of the issue are that the instrument must eitherbe redeemed at par, at the option of the holder, in three years' time, or alternativelyconverted into equity shares in RS.

The characteristics of this instrument taken as a whole indicates that it would be classifed as which of the following?

A : Compound instrument

B : Debt instrument

C : Equity instrument

D : Discounted instrument

Answer: A

Page: 1 / 54

Total 270 Questions | Updated On: May 13, 2024

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