Free CIMAPRA19-F02-1-ENG Practice Exam Questions Online

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Total 270 Questions | Updated On: Nov 18, 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

When consolidating for group accounts, a number of calculations and adjustments are required to properly combine the entities into a single group. Which of the following processes are involved in this consolidation method?

Select ALL that apply:

A : Add together the assets and liabilities of parent and subsidiary

B : Adjust for investment in subsidiaries

C : Adjustment for equity

D : Adjustment for profits

E : Adjustment for depreciation and amortisation

Answer: A,B,C

Question 3

Ratios have been produced below for EF for the year to 31 March:

Which TWO of the following could explain themovement in both gearing and ROCE?

A : A rights issue on 31 March 20X3.

B : A debt issue on 31 March 20X3.

C : A revaluation upwards on the head office property on 1 April 20X2.

D : A bonus issue of shares on 1 April 20X2.

E : A bank loan to purchase new machinery on 31 March 20X3.

Answer: A,C

Question 4

If you were asked to express the overall performance of an entityas a percentage of its total investment in net assets which of the following ratios would you calculate?

A : Return on capital employed

B : Asset utilisation

C : Dividend yield

D : Non-current asset turnover

Answer: A

Question 5

MNO is listed on its local stock exchange. It has a high level of gearing compared to the industry average as a result of rapid expansion funded by debt. The directors of MNO would like to reduce the level of gearing by raising equity to fund the next expansion project. The directors are considering whether to use a placing of new shares or a rights issue.

Which of the following statementsis true?

A : A rights issue would not need to be underwritten because the risk of the shares not being taken up is small compared to a placing.

B : The administration costs associated with a placing are usually more expensive than a rights issue because less investors are involved.

C : A placing will increase the proportion of the total number of MNO's shares held by large investors.

D : The directors must use a placing before offering the rights issue to existing shareholders.

Answer: C

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Total 270 Questions | Updated On: Nov 18, 2024

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