Question No 18:
The material yield variance for August is:
A. $200 Adverse
B. $1,740 Adverse
C. $200 Favorable
D. $1,740 Favorable
Answer: B
Thursday 27 August 2015
Thursday 20 August 2015
Cima P1 Exam Question No 17
Question No 17:
BC had trade receivables of $242,000 at the start of the year. BC forecasts that the sales revenue for the year will be $1,500,000. All sales are on credit.
Trade receivable days at the end of the year are expected to be 60 days based on a 365 day year.
The expected receipts from customers during the year are closest to:
A. $1,495,425
B. $1,742,000
C. $1,253,425
D. $1,504,575
Answer: A
BC had trade receivables of $242,000 at the start of the year. BC forecasts that the sales revenue for the year will be $1,500,000. All sales are on credit.
Trade receivable days at the end of the year are expected to be 60 days based on a 365 day year.
The expected receipts from customers during the year are closest to:
A. $1,495,425
B. $1,742,000
C. $1,253,425
D. $1,504,575
Answer: A
Wednesday 12 August 2015
Cima P1 Exam Question No 16
Question No 16:
A company is considering offering its customers an early settlement discount. The company currently receives payments from customers on average 65 days after the invoice date. The company is considering offering a 2% early settlement discount for payment within 30 days of the invoice date.
The effective annual interest rate of the early settlement discount using compound interest methodology and assuming a 365 day year is:
A. 22.94%
B. 20.86%
C. 23.45%
D. 27.85%
Answer: C
A company is considering offering its customers an early settlement discount. The company currently receives payments from customers on average 65 days after the invoice date. The company is considering offering a 2% early settlement discount for payment within 30 days of the invoice date.
The effective annual interest rate of the early settlement discount using compound interest methodology and assuming a 365 day year is:
A. 22.94%
B. 20.86%
C. 23.45%
D. 27.85%
Answer: C
Thursday 6 August 2015
Cima P1 Exam Question No 15
Question No 15:
AB is preparing its cash budget for the next quarter.
Which of the following items should NOT be included in the cash budget?
A. Payment of tax due on last year’s profits
B. Gain on the disposal of a piece of machinery
C. Repayment of the capital amount of a loan
D. Receipt of interest from short term investments
Answer: B
AB is preparing its cash budget for the next quarter.
Which of the following items should NOT be included in the cash budget?
A. Payment of tax due on last year’s profits
B. Gain on the disposal of a piece of machinery
C. Repayment of the capital amount of a loan
D. Receipt of interest from short term investments
Answer: B
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