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CIMA Updated F1 Exam Questions and Answers by lois

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CIMA F1 Exam Overview :

Exam Name: Financial Reporting
Exam Code: F1 Dumps
Vendor: CIMA Certification: CIMA Operational
Questions: 248 Q&A's Shared By: lois
Question 24

AB has been asked to analyze the receivables days of an entity with a view to improving the working capital cycle.

The following results have been produced for receivable days:

Questions 24

Which of the following is NOT an explanation of why the days have increased?

Options:

A.

The entity has increased turnover for year ended 31 December 20X2 by offering extended credit terms.

B.

The entity has made substantial sales to overseas entities in the last few months of the year ended 31 December 20X2.

C.

The entity has transferred all receivables collections to a factoring agency during 20X2.

D.

An inexperienced credit controller was employed in the last few months of year ended 31 December and requires substantial training.

Discussion
Question 25

CDE has been offering its customers a 50-day credit period, but now wants to improve its cash flow.

CDE is proposing to offer a 2% discount for payment in 20 days. "

Assume a 365-day year and an invoice value of $100

Which of the following is the effective annual interest rate CDE will incur for this action?

Options:

A.

27.9%

B.

44.6%

C.

15.9%

D.

49.8%

Discussion
Question 26

Which of the following is a feature of a direct tax?

Options:

A.

The formal incidence and effective incidence are usually the same.

B.

It is levied on one part of the economy with the intention that it will be passed on to another.

C.

It is not levied on the eventual payer of the tax.

D.

It cannot be related to the individual circumstances of the tax payer.

Discussion
Question 27

Below are extracts from LLL's financial statements for the year ended 31 December 20X2.

Questions 27

Questions 27

Depreciation of $25,000 was charged on properly, plant and equipment in the year and there were no disposals

What is the cash generated from operations for inclusion in LLL's statement of cash flows for the year ended 31 December 20X2?

Options:

A.

$355 000

B.

$390,000

C.

$415,000

D.

$435,000

Discussion
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