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CIMA Updated F2 Exam Questions and Answers by allegra

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CIMA F2 Exam Overview :

Exam Name: F2 Advanced Financial Reporting
Exam Code: F2 Dumps
Vendor: CIMA Certification: CIMA Management
Questions: 268 Q&A's Shared By: allegra
Question 36

AB acquired 90% of the equity of YZ on 31 December 20X2. On the same date YZ acquired 60% of the equity shares of VW for $750,000.  AB has no other subsidiaries.

The following information regarding YZ and VW was available:

  Questions 36

What amount will AB include in its consolidated statement of financial position in respect of non controlling interest at 31 May 20X6?

Options:

A.

$816,400

B.

$741,400

C.

$840,600

D.

$811,000

Discussion
Question 37

Information extracted from JK's statement of financial position for the year ended 31 May 20X5 is as follows:

Questions 37

Calculate the gearing ratio (Debt/Equity measured as a percentage) at 31 May 20X5. 

Give your answer to one decimal place.

? %

Options:

Discussion
Question 38

GG's gearing is currently 50% compared to the industry average of 40% (both measured as debt/equity). GG's debt is all in the form of a single bank loan that is repayable in five years' time. The directors of GG are seeking to raise finance for a new project and they are considering an additional bank loan from the same bank.

Which of the following would prevent the bank from lending the finance for the project in the form of a new bank loan?

Options:

A.

A covenant on the existing bank loan that restricts the level of dividend that can be paid.

B.

A projected decrease in interest cover that would breach a covenant on the existing loan.

C.

The revaluation of GG's property that shows an increase in its value since the existing bank loan was taken out.

D.

A projected lack of profits to be able to claim tax relief on the additional interest arising from the new loan.

Discussion
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Question 39

AB and FG incorporated on 1 January 20X1 in the same country and had similar investment in net assets. Both entities are financed entirely by equity.   In the year to 31 December 20X1 both entities generated the same volume of sales. 

Which of the following, taken individually, would explain why AB's return on capital employed ratio was lower than that of FG?

Options:

A.

AB revalued its non current assets upwards on 31 December 20X1; FG's non current assets were stated at historic cost.

B.

FG issued bonds on 31 December 20X1; AB remains ungeared.

C.

AB paid a lower dividend to its shareholders than FG in the year.

D.

AB's deferred tax provision at the year end is higher than that of FG.

Discussion
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