Pass the CIMA Certificate BA3 Questions and answers with ExamsMirror

An organization's trial balance at the end of the month was out of agreement, with the debit side totaling £500 less than the credit side. A suspense account was opened for this amount.

During the next month, the following errors were discovered:

(a) The purchase returns day book had been under cast by £50

(b) Rent payable of £400 had been credited to the rent receivable account

(c) A non-current asset, with a net book value of £700 had been disposed of at a loss of £80; all entries had been correctly recorded except that the sale proceeds had been omitted from the disposals account.

Following the correction of these errors, the balance on the suspense account would be.

Refer to the Exhibit.

A business writes a cheque using its overdraft balance to purchase new display shelving for its showroom

Which of the following is the dual effect?

Which THREE of the following would be shown in the statement of changes in equity?

A business needs to reconcile its cash book with the current bank statement on a regular basis

Which THREE of the following items could require an adjusting entry in the cash book?

A contra entry is best described as:

Refer to the Exhibit.

The following information is given at a manufacturer's year end:

Using some or all of the above figures, the correct figure for factory cost of goods completed is:

Fraud can be conducted by employees or management. Management fraud can be hard to detect and may not seem like fraud at all as often company performance improves.

Which ONE of the following would be an example of management fraud?

The accounting concept to be considered when the owner of a business uses business funds to pay for his private household expenses, is the:

Goodwill is calculated as being:

DEF has the following equity balances at 1 June 20X7.

On 30 June 20X7 DEF issued 200.000 new shares at their full market price of $1 75.

What are the equity balances of DEF after issuing these shares?

A)

B)

C)

D)