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CIMA BA3 Exam Questions
Fundamentals of Financial Accounting (Page 3 )

Updated On: 21-Feb-2026
Page 3 of 80
PDF with 393 Questions

A business has expanded rapidly during the current year. As a result the accounting records have been building up and the management accountant is having problems producing reports for each department head.

Which of the following would be the best solution if introduced?

  1. Extra working hours
  2. Accounting codes
  3. Prepare fewer reports
  4. Department head produce their own reports

Answer(s): B



Which of the following is not a book of prime entry?

  1. Purchases daybook
  2. Cash book
  3. Sales ledger
  4. Journal

Answer(s): C



At the end of the year, the non-current asset register showed assets with a net book value of $170,300. The non-current asset accounts in the nominal ledger showed a net book value of $150,300.

The difference could be due to a disposed asset not having been removed from the non- current asset register, which had.

  1. Disposal proceeds of $25,000 and a profit on disposal of $5,000
  2. Disposal proceeds of $25,000 and a net book value of $5,000
  3. Disposal proceeds of $25,000 and a loss on disposal of $5,000
  4. Disposal proceeds of $10,000 and a net book value of $10,000

Answer(s): A



Which of the following represent items of income for a business?

  1. Discount received, revenue & carriage outwards
  2. Revenue, bank interest & bad debts
  3. Discount allowed, bank interest & revenue
  4. Revenue, discount received & bank interest

Answer(s): D



CORRECT TEXT

The balances of the trial balance of CDE for the year ended 31 May 20X4 is as follows



What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $'000

  1. See Explanation section for answer.

Answer(s): A

Explanation:

CORRECT TEXT IS: $26280






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