Free CIMAPRA19-P02-1-ENG Practice Exam Questions Online

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Total 205 Questions | Updated On: Nov 18, 2024

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Question 1

Which of the following statements is TRUE about the activity based costing system when compared to absorption costing method?

A : ABC is easier to administer than an absorption costing system

B : ABC will be less detailed than an absorption costing system

C : ABC will provide more accurate overhead allocation than absorption costing

D : ABC will cost less to administer than an absorption costing system

Answer: C

Question 2

A large company that sells a single product has many customers. The contribution per unit of the product is $40. Data for the company as a whole are given below.

Using customer profitability analysis, what is the total annual profit for this customer?

A : $1,660,000

B : $1,780,000

C : $1,460,000

D : $2,340,000

Answer: A

Question 3

How does beyond budgeting NOT help to resolve the weaknesses of traditional budgeting? Select ALL that apply.

A : Managers are set goals and targets to achieve rather than abiding by strict budgets and variances.

B : Managers have a much larger scope of business goals that when achieved, will increase shareholder value.

C : Managers are given more freedom and control over their business units under Beyond budgeting.

D : Managers focus on keeping costs low in the short term to ensure maximised profits.

E : Managers are given incentives to meet or undercut budgets.

F : Managers are encouraged to designate responsibility to others to lessen their workload so they may concentrate on important tasks.

Answer: A,D

Question 4

When considering a capital investment, relevant costs for decision making have which THREE of the following features?

A : They are future costs.

B : They are committed costs.

C : They are incremental costs.

D : They are unavoidable costs.

E : They are cash flows.

Answer: A,C

Question 5

A company is investing $150,000 in a project which will yield an annual cash inflow of $40,000 for eight years. The company's cost of capital is 10%.
To the nearest $100, what is the project's equivalent annual net present value?

A : $11,900

B : $7,900

C : $63,400

D : $21,300

Answer: A

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Total 205 Questions | Updated On: Nov 18, 2024

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