Free CIMA CIMAPRA19-F02-1-ENG Exam Questions
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CIMA CIMAPRA19-F02-1-ENG Exam Questions
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Provided By: CIMA
- Exam: F2 Advanced Financial Reporting (Online)
- Certification: CIMA Professional Qualification
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Total Questions: 270
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Updated On: Mar 12, 2025
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Rated: 4.9 |
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Online Users: 540
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Question 1
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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?
Answer: A
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Question 2
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On 1 January 20X7 GH purchased plant and equipment at a cost of $400,000. The temporary differences in respect of this plant and equipment at 31 December 20X7 and 20X8 have been calculated as follows:Assume that there are no other temporary differences in the periods and that the corporate income tax rate is 25%. GH is expected to have significant taxable profits in the future.Which of the following is the correct impact in GH's statement of financial position at 31 December 20X8 in respect of deferred tax?
Answer: A
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Question 3
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LM has made the following share purchases during the year:* Purchased 55% of the equity share capital of OP.* Purchased 45% of the equity share capital of QR.LM have the power to appoint the majority of board members on the QR board.* Purchased 30% of the equity share capital of ST. LM is represented by one director on the main board of ST which has five members in total. The other 70% of ST's equity share capital is owned by a single company, UV.The Managing Director has told you that OP has performed well, but both QR and ST have not performed as expected. He is therefore pleased thatOP will be included as a subsidiaryand that QR and ST will only be included as investments in the group financial statements.In accordance with the ethical principle of professional competence and due care how should the investments in OP, QR and ST be treated in the group financial statements?
Answer: A
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Question 4
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When accounting for a finance lease under IAS 17 Leases, which TWO of the following are recognised in the statement of profitor loss?
Answer: A,B
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When accounting for a finance lease under IAS 17 Leases, which TWO of the following are recognised in the statement of profitor loss?
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Question 5
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JKL measure gearingas debt:equity, based on book values.At 31 December 20X5the ratio is 2:3 and JKL would like this to be 2:5.Which of the following transactions individually would achieve this?
Answer: B
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