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Only need to practice for 20 to 30 hours
You will get to know the valuable exam tips and the latest question types in our F1 certification training files, and there are special explanations for some difficult questions, which can help you to have a better understanding of the difficult questions. All of the questions we listed in our F1 practice exam materials are the key points for the IT exam, and there is no doubt that you can practice all of F1 best questions within 20 to 30 hours, even though the time you spend on it is very short, however the contents you have practiced are the quintessence for the IT exam. And of course, if you still have any misgivings, you can practice our F1 certification training files again and again, which may help you to get the highest score in the IT exam.
Simulate the real exam
We provide different versions of F1 practice exam materials for our customers, among which the software version can stimulate the real exam for you but it only can be used in the windows operation system. It tries to simulate the F1 best questions for our customers to learn and test at the same time and it has been proved to be good environment for IT workers to find deficiencies of their knowledge in the course of stimulation.
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Fast delivery in 5 to 10 minutes after payment
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CIMA Financial Reporting Sample Questions:
1. On 1 July 20X7, VWX enters into a 12-month lease for personal computers paying a non-refundable deposit of $600. Lease payments of $500 are paid monthly in arrears. VWX chooses to recognise the assets in the lease as short life and low value Which of the following gives the correct value for the expense in the statement of profit or loss and corresponding prepayment and accrual in VWX's statement of financial position for the year ended 31 December 20X7?
A)
B)
C)
D)
2. When calculating the gam chargeable to tax on the disposal of a building, which of the following would NOT be an allowable deduction?
A) Interest on a loan that was used to assist with its original purchase.
B) Costs of constructing an extension to the building.
C) Estate agent's fee payable on its sale.
D) Legal fees arising on the original purchase of the building.
3. The following information is extracted from OO's statement of financial position at 31 March:
Included in other payables is interest payable of $80,000 at 31 March 20X2 and $73,000 at 31 March 20X1.
The following information if included within OO's statement of profit or loss for the year ended 31 March
20X2:
Included within finance cost is $124,000 which relates to interest paid on a finance lease. 00 includes finance lease interest within financing activities on its statement of cash flows.________________ Within OO's statement of cash flow for the year ended 31 March 20X2 which figures should be included to reflect the changes in working capital within the net cash flow from operating activities?
A) Option B
B) Option D
C) Option C
D) Option A
4. An entity bought a capital item for $110,000 on 1 March 20X4 incurring legal fees at the date of purchase of
$2,500.
On 1 May 20X4 additional costs classified as capital expenditure by the tax rules of the country of $25,000 were incurred in respect of the asset. On 1 June 20X4 repairs not classified as capital expenditure were incurred at a cost of $15,000.
The asset was sold for $250,000 on 30 November 20X8 and costs to sell were incurred of $4,300.
Calculate the chargeable gain on the disposal.
Give your answer to the nearest $.
5. The IV Group is formed of I Ltd and its subsidiary company V Ltd. I Ltd purchased 67% of V Ltd's ordinary share capital on 31 March 20X3.
The purchase cost I Ltd £129,000. At the date of purchase V Ltd's net assets were £155,000 while its share capital was £37,000. NCI fair value on the date of acquisition was £31,000.
What was the amount of goodwill I Ltd paid as part of the acquisition. Calculate this figure using both the proportion of net assets method and the full good will method for valuing the non-controlling interest.
A) Full goodwill method = £57,000
B) Full goodwill method = £25,150
C) Proportion of net assets method = £5,000
D) Full goodwill method = £5,000
E) Proportion of net assets method = £25,150
F) Proportion of net assets method = £77,150
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: Only visible for members | Question # 5 Answer: D,E |
