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CIMA BA3 Based on Real Exam Environment

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Question 36

Non-current assets can be divided between intangible and tangible assets.

Which THREE of the following are intangible assets?

Options:

A.

Research and development

B.

Buildings

C.

Plant

D.

Goodwill

E.

Patent

F.

Land

Question 37

Which THREE of the following are characteristics of financial accounting?

Options:

A.

Records daily transactions

B.

Monitors actual results to expected results

C.

Meets external reporting requirements

D.

Reports historic transactions

E.

Meets management reporting needs

F.

Is forward looking

Question 38

An accounting system should provide an audit trail for all its transactions

Which of the following describes an audit trail?

Options:

A.

Provision of a complete history of any given financial transaction

B.

A timetable of deadlines of the audit

C.

A review of the audit process completed

D.

The planned audit process

Question 39

In the year ended 31 December 20X1, XYZ receives an email confirming that a major customer has gone into liquidation and will be unable to pay its suppliers.

Which of the following is the impact of adjusting for this event?

Options:

A.

Profits increase and allowance increases.

B.

Receivables decrease and allowance increases

C.

Receivables unchanged and profits decrease

D.

Receivables decrease and profits decrease

Page: 9 / 14
Exam Code: BA3
Exam Name: Fundamentals of Financial Accounting
Last Update: May 2, 2024
Questions: 393
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