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Pass the CIMA Certificate BA3 Questions and answers with ExamsMirror

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Questions # 21:

One of the main responsibilities of internal auditors is to check the operational systems within their organization to establish whether the system's internal controls are sufficient and in full operation.

Which THREE of the following are examples of internal controls?

Options:

A.

Segregation of duties

B.

Physical

C.

Accounting codes

D.

Authorization and approval

E.

Filing

F.

Documentation

Questions # 22:

Office equipment store Officework Ltd has made the following purchase from supplier GX:

50 printers costing £3,500 £6,400

worth ofA4 paper £101,500

worth of general stationary

This purchase has been made on credit. Which TWO of the following show how the transaction should be recorded in Officework Ltd's documents?

Options:

A.

£111,400 debit to payables

B.

£111,400 debit to purchases

C.

£111,400 credit to purchases

D.

£111,400 credit to payables

E.

£111,400 credit to stock

F.

£111,400 debit to stock

G.

£111,400 credit to receivables

Questions # 23:

Which one of the following would not contribute to the prevention and detection of fraud?

Options:

A.

Appointing a single well-qualified person to maintain the ledger accounts

B.

Conducting an audit

C.

Insisting that staff take holidays

D.

Segregating the duties of staff

Questions # 24:

Which TWO of the following statements are correct?

Options:

A.

Ordinary shares carry compulsory dividends

B.

Ordinary shares carry voting rights

C.

Preference shares carry voting rights

D.

Preference shares are the lowest priority when winding up

E.

Preference shares usually carry a fixed dividend

Questions # 25:

Refer to the Exhibit.

Question # 25

An extract of information from K's book of accounts revealed that:

Cash received during the year is

Options:

Questions # 26:

Which of the following financial documents contains the manufacturing account?

Options:

A.

Income statement

B.

Statement of profit and loss

C.

Statement of financial position

D.

Statement of changes in equity

Questions # 27:

Which of the following is not an external user of financial statements?

Options:

A.

auditor

B.

shareholder

C.

creditor

D.

director

Questions # 28:

An accountant is taking on financial accounting responsibilities for company PQ. Which TWO of the following are NOT true of financial accounting?

Options:

A.

It's purpose is to provide financial information to an external source

B.

It's purpose is to provide information for internal use

C.

Performed without adherence to standard accounting rules

D.

Performed in accordance with legal requirements

Questions # 29:

Which of the following are relevant to the total working capital days ratio calculation?

Options:

A.

Inventories days

B.

Receivables days

C.

Payables days

D.

Current assets

E.

Current liabilities

F.

Operating profit

Questions # 30:

Which TWO of the following are responsibilities of the IFRS interpretations committee?

Options:

A.

Issuing draft interpretations of the standards for public comment

B.

Communicating the views of the wider public on the ongoing projects to the IASB

C.

Taking decisions on finalising an interpretation of the standards

D.

Preparing and publishing the international financial reporting standards

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