Free CIMA CIMAPRO19-F02-1-ENG Exam Questions
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CIMA CIMAPRO19-F02-1-ENG Exam Questions
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Provided By: CIMA
- Exam: F2 Advanced Financial Reporting
- Certification: CIMA Professional Qualification
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Total Questions: 270
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Updated On: Nov 14, 2024
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Rated: 4.9 |
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Online Users: 540
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Question 1
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ST acquired 75% of the 2 million $1 equity shares of CD on 1 January 20X3, when the retained earnings of CD were S3,550,000. CD has no other reserves.ST paid $5,600,000 for the shares in CD and the non controlling interest was measured at its fair value of S1,400,000 at acquisition.At 1 January 20X3, the fair value of CD's net assets were equal to their carrying amount, with the exception of a building. This building had a fair value of $1,000,000 in excess of its carrying amount and a remaining useful life of 25 years on 1 January 20X3.At 31 December 20X5, the retained earnings of ST and CD were $8,500,000 and $5,250,000 respectively.What is thefigure fornon-controlling interestto be shown in the consolidated statement of financial position of STas at 31 December 20X5?
Answer: A
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Question 2
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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:
Answer: A
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Question 3
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Which TWO of the following are true in relation to IAS21 The Effects of Changes in Foreign Exchange Rates when consolidating an overseas subsidiary?
Answer: A,B
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Which TWO of the following are true in relation to IAS21 The Effects of Changes in Foreign Exchange Rates when consolidating an overseas subsidiary?
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Question 4
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STacquired 70% of the equitysharesofDE for $87,500 on 30 September 20X5. Atthe date of acquisition the net assets of DE were $54,700 and the fair value of the non controlling interest wasmeasured at $19,700. There has been no impairment of goodwill.On 30 September 20X9 ST disposedofits entire investmentinDE for $262,500 whenthe net assets of DEwere $96,250.What is the gain or loss on disposal of DEthat will be included in ST'sconsolidated profit or lossfor the year ended30 September 20X9?
Answer: D
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Question 5
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GH owned 70% of the equity share capital of XY at 1 January 20X6. GH acquired a further 20% of XY's equity share capital on 31 December 20X6 for $430,000. Non controlling interest was measured at $600,000 immediately prior to the 20?quisition.Which of the following amounts will GH debit to non controlling interest when the 20?quisition is adjusted for in its consolidated financial statements at 31 December 20X6?
Answer: A
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