CIMA BA3 Q&A - in .pdf

  • Exam Code: BA3
  • Exam Name: Fundamentals of Financial Accounting
  • Q & A: 395 Questions and Answers
  • Printable CIMA BA3 PDF Format. It is an electronic file format regardless of the operating system platform.
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CIMA BA3 Q&A - Testing Engine

  • Exam Code: BA3
  • Exam Name: Fundamentals of Financial Accounting
  • Q & A: 395 Questions and Answers
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CIMA BA3 Exam Syllabus Topics:

SectionWeightObjectives
Analysis of Financial Statements10%- Calculate basic financial ratios
- Interpret accounting ratios and performance
Accounting Principles, Concepts and Regulations10%- Principles and concepts of financial accounting
- Regulatory and conceptual framework
Preparation of Accounts for Single Entities30%- Adjustments and inventory/cost of sales entries
- Prepare financial statements from trial balance
Recording Accounting Transactions50%- Prepare accounting records
- Reconciliations and control accounts
- Record transactions using double-entry bookkeeping

CIMA Fundamentals of Financial Accounting Sample Questions:

Question #1

Non-current assets can be divided between intangible and tangible assets.
Which THREE of the following are intangible assets?

  • A. Goodwill
  • B. Research and development
  • C. Buildings
  • D. Land
  • E. Patent
  • F. Plant
Reveal Solution  Discussion  0

Correct Answer: A,B,E  🗳️

Question #2

Which one of the following attributes is the most important for any code to possess, in order to be of use in an accounting system?

  • A. Understandable
  • B. Secret
  • C. Concise
  • D. Unique
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #3

The format of the financial statements and the disclosure notes are prescribed by accounting standards and Company Law.
Which THREE of the following are headings within the statement of financial position?

  • A. Profit from operations
  • B. Non-current assets
  • C. Equity & liabilities
  • D. Profit before tax
  • E. Current assets
  • F. Cost of sales
Reveal Solution  Discussion  0

Correct Answer: B,C,E  🗳️

Question #4

Which of the following best explains what is meant by "capital expenditure"?

  • A. Expenditure on the improvement and maintenance of non-current assets
  • B. Depreciation charges on non-current assets
  • C. Expenditure on the acquisition of non-current assets
  • D. Expenditure incurred in the raising of capital
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #5

Refer to the Exhibit.

A company operates a FIFO system of inventory valuation. Opening inventory at the beginning of the period was 200 units @ £2.80 each. During the period the following movements of inventory were recorded.
The value of the closing inventory at the end of the period and amount charged to the income statement were:

  • A. Closing inventory £357.50 Income statement £1897.50
  • B. Closing inventory £360.00 Income statement £2255.00
  • C. Closing inventory £360.00 Income statement £1695.00
  • D. Closing inventory £360.00 Income statement £1895.00
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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