Free CIMA F2 Exam Dumps Questions & Answers

On 30 November 20X9 OPQ acquires a financial asset that is classified as Available for Sale.
Which of the following describes the value of the financial asset on the date of acquisition?

• A.Present value excluding transaction costs.
• B.Fair value excluding transaction costs.
• C.Present value including transaction costs.
• D.Fair value including transaction costs.

XY purchased $100,000 of quoted 8% bonds in the current year which it intends to hold until redemption.
Which of the following identifies the correct classification and subsequent measurement basis for this financial instrument?

• A.A loans and receivables financial asset subsequently measured at amortised cost.
• B.A held to maturity financial asset subsequently measured at amortised cost.
• C.A loans and receivables financial asset subsequently measured at fair value with gains and losses in reserves.
• D.A held to maturity financial asset subsequently measured at fair value with gains and losses in reserves.

GH's financial statements show the following:
What is the value of the dividend received from the associate to be included in GH's consolidated statement of cash flows for the year?
Give your answer to the nearest $000.
$ ? 000

Which of the following statements are incorrect regarding identifiable assets? Select ALL that apply.

• A.To be identifiable assets must be separable from the subsidiary
• B.Net assets must be identifiable at acquisition
• C.Deferred tax assets and liabilities are not classed as identifiable assets
• D.Contingent assets and liabilities are examples of exceptions to the rules governing identifiable assets
• E.Assets can also be identifiable if they arise from contractual or legal rights

An investor owns 75 shares values at $1.50 each. If the shares increase in value to $1.75, how much money will the investor have made through this capital gain?

• A.$26.25
• B.$131.25
• C.$18.75
• D.$187.50
• E.$112.50
• F.$15