Free CIMA F1 Practice Exam with Questions & Answers | Set: 8

XYZ has the following data relating to the forecast sale of goods for the quarter to 31 December 20X2:

XYZ expects trade receivables to be settled as follows:

• 20% in the month of sale, by offering a settlement discount of 5%;

• 30% in the month following sale, and

• the remainder, after allowing for irrecoverable debts, in the subsequent month

$10,000 of the sales made in October 20X2 are expected to be irrecoverable

What is the forecast amount to be received by XYZ from trade receivables in December 20X2?

Which THREE of the following statements are NOT true of the IFRS Foundation trustees?

Which of the following is NOT a reason why financial reporting information needs to be regulated?

OP is considering investing in government bonds. The current price of a $100 bond with 8 years to maturity is $88.

The bonds have a coupon rate of 6% and repay face value of $100 at the end of the 8 years.

Calculate the yield to maturity.

Give your answer to one decimal place.