Free CIMA CIMAPRO19-F02-1-ENG Exam Questions

Become CIMA Certified with updated CIMAPRO19-F02-1-ENG exam questions and correct answers

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Total 270 Questions | Updated On: Dec 03, 2021

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Question 1

Which of the following are limitations of financial statement figures for ratio analysis? Select the ALL that apply.

A : ly provides historic data

B : ly provides financial information

C : mited information to identify trends over time

D : ovide only summarised information

E : ntains complicated information that needs to be summarised

F : ly provides forecast data

Answer: A,B,C,D

Question 2

Information from the financial statements of an entity for the year to 31 December 20X5:

The gearing ratio calculated as debt/equity and interest cover are:

A : aring of 15% andinterest cover of 6.

B : aring of 16% and interest cover of 6.

C : aring of 15% and interest cover of 4.

D : aring of 16% and interest cover of 4.

Answer: A

Question 3

MS Group's total profit for period on their consolidated income statement is 31,000. This includes adjusting for their share of joint venture JV2. Calculate the share of joint venture MS Group received based on the following information.

MS operating profit 41,000

Dividend from JV2 5,000

Finance cost 3,000

Tax 11,000

A : 4,000

B : 9,000

C : 1,000

D : 7,000

E : 6,000

F : 5,000

Answer: A

Question 4

WX acquired60% of theequitysharesof CD on 1 January 20X3. WX sold5% of the equityshares it heldfor $60,000on 31 December 20X5. At that datethe net assetsof CD were $120,000and thefair value of the non-controlling interestin CDwas measured at$21,000.No goodwill arose on the original acquisition of CD.

When preparing its consoldiated financial statements, WX will process which of the following adjustments to its group retained earnings?

A : debit of $39,000

B : credit of $54,000

C : credit of $39,000

D : debit of $54,000

Answer: B

Question 5

On 30 November 20X9 OPQ acquires a financial asset that is classified as Available for Sale.

Which of the following describes the value of the financial asset on the date ofacquisition?

A : ir value excluding transaction costs.

B : ir value including transaction costs.

C : esent value including transaction costs.

D : esent value excluding transaction costs.

Answer: B

Page: 1 / 54

Total 270 Questions | Updated On: Dec 03, 2021

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