Online Access Free CIMA.F1.v2022-03-22.q70 Practice Test (Page 2)

F1 Exam Question 1

Which of the following would be classified as a parent and subsidiary relationship in accordance with IFRS 10 Consolidated Financial Statements?

A.Entity A owns 30% of another entity's equity shares and has the power to appoint or remove the majority of the members of the board of directors and control of the entity is through that board.

B.Entity B owns 20% of another entity's equity shares and has an agreement with other equity shareholders of that entity that gives it power over a further 20% of the equity voting rights.

C.Entity C owns 45% of another entity's equity shares and can exercise significant influence over that entity's financial and operating policy decisions.

D.Entity D owns 25% of another entity's equity shares and associated voting rights and 100% of its preference shares.

F1 Exam Question 2

Which of the following is an effect of using equity accounting to include an entity in the consolidated statement of financial position of a group?

A.The investment in the investee entity is included in non-current assets at cost to the investing entity.

B.The group share of each asset and liability of the investee entity is included with the investing entity's balances.

C.A single figure is included in net assets which is the sum of the initial cost of investment in the investee entity plus the group share of all changes in net assets since acquisition.

D.100% of each asset and liability of the investee entity is included with the investing entity's balances.

F1 Exam Question 3

F1 Exam Question 4

Which of the following would be found under the heading "other comprehensive income" in the statement of total comprehensive income?

A.Increase or decrease in provision for irrecoverable debts

B.Income from investments

C.Dividends paid

D.Gain or loss on revaluation of a non-current asset

F1 Exam Question 5

PP supplies zero-rated and standard-rated goods. During the year ended 30 March 20X3, the standard- rated goods made up 50% of the total supplies. During the year ended 30 March 20X4 this percentage increased to 60%.
What percentage of input tax suffered can PP claim back in the year ended 30 March 20X4?
Give your answer as a whole number.

Other Version: 456CIMA.F1.v2024-04-29.q104; 36CIMA.Prep4sures.F1.v2022-03-17.by.eartha.70q.pdf

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F1 Exam Question 1

F1 Exam Question 2

F1 Exam Question 3

F1 Exam Question 4

F1 Exam Question 5

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