BA3 Practice Questions
Fundamentals of financial accounting
Last Update 1 day ago
Total Questions : 393
Dive into our fully updated and stable BA3 practice test platform, featuring all the latest CIMA Certificate exam questions added this week. Our preparation tool is more than just a CIMA study aid; it's a strategic advantage.
Our free CIMA Certificate practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about BA3. Use this test to pinpoint which areas you need to focus your study on.
Refer to the Exhibit.
Which of the following would be shown in the trial balance for the bank ledger account?
The draft accounts of KenDoo Ltd for the year ended 31 August 2006 showed a net profit of $10000.
During the audit, the following errors and omissions were discovered.
(a) Items valued at $3100 had been completely omitted from the closing stock figure.
(b) Accrual of electricity bill for $200 and insurance prepayment of $500 had been omitted.
(c) Equipment costing $12000, acquired on 1 September 2005, had been debited to the purchases acccount. (KenDoo Ltd depreciates equipment at 15% on the straight line basis).
Due to materiality, the directors of KenDoo Ltd agreed to adjust the accounts accordingly.
Incorporating the above adjustments, the revised net profit is
Internal controls can be split between detect controls and prevent controls.
Which THREE of the following are prevent controls?
At 31 December year 1, the electricity expenses account had a closing accrual of $300 as a result a credit balance was brought down at 1 January year 2
During year 2, electricity invoices totaling $4,000 were paid, including an invoice for $600 for the three months ended 31 March year 3
The charge of electricity in the income statement for year 2 is $
A trial balance is extracted from the ledger accounts at the end of each accounting period.
Which of the following will a trial balance do?
Which of the following are relevant to the total working capital days ratio calculation?
Which one of the following would not contribute to the prevention and detection of fraud?
