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Free CIMA BA3 Practice Exam with Questions & Answers | Set: 12

Questions 111

Refer to the Exhibit.

BA3 Question 111

A company has the following chart of accounts:

The sales director of the northern region wants to know what the total sales of widgets are for the first quarter of the year.

Which code would he request for his report?

Options:
A.

100

B.

800

C.

100800

D.

800100

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Questions 112

Which of the following statements about revenue is CORRECT?

Options:
A.

Revenue is claimed when received, not earned

B.

Revenue cannot be claimed until the end of the period

C.

Revenue is claimed when earned, not received

D.

Revenue is never earned

Questions 113

Refer to the exhibit.

BA3 Question 113

Jordan has the following assets and liabilities at 1 January:

What is the capital balance at 1 January?

Options:
A.

$38,000

B.

$14,000

C.

$22,000

D.

$18,000

Questions 114

Refer to the exhibit.

BA3 Question 114

The trial balance of Monchu Partnership, as at 30 June 2006, has a suspense account. Subsequent investigations revealed that:

(1) A payment of £352 to Mr. Tan was posted as £325.

(2) A remittance of £450 received from Arumugam was credited to Armits accounts.

(3) Salaries of £12000 have not been posted from the cash book.

Monchu suggested the following adjustments:

The appropriate journal entries are:

Options:
A.

(a), (c) and (e) only

B.

(b), (d) and (f) only

C.

(b) and (f) only

D.

(b), (e) and (f) only

Questions 115

The reducing balance method of depreciating fixed assets is more appropriate than the straight line method when:

Options:
A.

The asset is expected to decrease in value less in later years than in the early years of its life

B.

The asset is expected to decrease in value more in later years than in the early years of its life

C.

The expected life of the asset is short

D.

The asset is expected to decrease in value by a fixed percentage of cost each year

Questions 116

Cost of goods sold for a manufacturing company is the total of

Options:
A.

prime costs + production overheads + opening work in progress - closing work in progress + opening inventories of finished goods - closing inventories of finished goods

B.

prime costs + production overheads + opening inventories of raw materials - closing inventories of raw materials + opening work in progress - closing work in progress

C.

prime costs + production overheads - opening work in progress + closing work in progress - opening inventories of finished goods + closing inventories of finished goods

D.

prime costs + production overheads + opening inventories of raw materials - closing inventories of raw materials + opening work in progress - closing work in progress + opening inventories of finished goods - closing inventories of finished goods

Questions 117

Refer to the Exhibit.

BA3 Question 117

A company had previously written off one of their receivables that had been declared bankrupt. The administrators of the bankruptcy have now sent a cheque to the company for the full amount originally outstanding. The company now needs to record this receipt.

Which of the following is the correct double entry?

Options:
A.

A

B.

B

C.

C

D.

D

Exam Code: BA3
Certification Provider: CIMA
Exam Name: Fundamentals of financial accounting
Last Update: Jul 15, 2025
Questions: 393

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