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F1 Financial Reporting CIMAPRA19-F01-1-ENG Exam Dumps

Passcert provides the latest F1 Financial Reporting CIMAPRA19-F01-1-ENG Exam Dumps to make you able to pass the exam in your first try.

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F1 Financial Reporting CIMAPRA19-F01-1-ENG Exam Dumps

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  1. CIMAPRA19-F01-1-ENG CIMAPRA19-F01-1-ENG Sample Test Sample Test F1 Financial Reporting (Online) F1 Financial Reporting (Online) https://www.passcert.com/CIMAPRA19-F01-1-ENG.html https://www.passcert.com/CIMAPRA19-F01-1-ENG.html

  2. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 1 Country X levies corporate income tax at a rate of 25% and charges income tax on all profits irrespective of whether they are distributed by way of dividend. Country Y levies corporate income tax at a rate of 20%. A, who is resident in Country X, pays a divided to B, who is resident in Country Y. B is required to pay corporate income tax on the dividend received from A, but a deduction can be made for the tax suffered on this dividend restricted to a rate of 20%. Which method of relief for foreign tax does this describe? A. Exemption B. Deduction C. Tax credit D. Restricted Answer: C 02 03 04

  3. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 2 Which of the following is a feature of a direct tax? A. The formal incidence and effective incidence are usually the same. B. It is levied on one part of the economy with the intention that it will be passed on to another. C. It is not levied on the eventual payer of the tax. D. It cannot be related to the individual circumstances of the tax payer. Answer: A 01 02 03 04

  4. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 3 PQ uses the fair value method for non-controlling interest at acquisition. Calculate the amount that will be shown as the share of profit of associate in PQ's consolidated statement of profit or loss for the year ended 31 December 20X0. A. $10,000 B. $2,000 C. $4,000 D. $3,200 Answer: B 01 02 03 04

  5. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 4 The International Accounting Standards Board's "The Conceptual Framework for Financial Reporting" identifies fundamental and enhancing qualitative characteristics of financial statements. Which of the following is included within the fundamental characteristics? A. Comparability B. Verifiability C. Understandability D. Materiality Answer: D 01 02 03 04

  6. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 5 Which of the following is not a possible tax rate structure? A. Progressive B. Proportional C. Direct D. Regressive Answer: C 01 02 03 04

  7. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 6 Which of the following is an example of a progressive tax? A. Personal income tax of 10% on earnings up to $10,000, then at 15% over $10,001 B. Corporate income tax of 20% on earnings up to $100,000, then at 10% over $100,000 C. Corporate income tax of 20% on all earnings D. Personal income tax of 10% and corporate income tax of 20% Answer: A 01 02 03 04

  8. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 7 01 Country X levies a duty on alcoholic drinks. Where the alcohol content is above 40% by volume the duty levied is $5 per 1 litre bottle. What type of tax is this duty? A. Specific unit tax B. Ad valorem tax C. Direct tax D. Single-stage sales tax Answer: A 02 03 04

  9. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 8 01 According to IAS 21 The Effects of Changes in Foreign Exchange Rates, an entity should determine its functional currency. Which of the following is NOT a factor that should be considered by an entity when determining its functional currency? A. The currency that mainly influences selling prices of the entity's goods and services. B. The currency that mainly influences labour, material and other costs. C. The currency used for published financial reports. D. The currency of the country whose competitive forces determine prices of goods and services. Answer: C 02 03 04

  10. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 9 To apply the fundamental principles of the Code of Ethics, existing and potential threats to the entity first need to be identified and evaluated. Which THREE of the following are identified in the Code as threats? A. Confidentiality threat B. Self-interest threats C. Self-review threats D. Familiarity threats E. Integrity threats F. Objectivity threats Answer: B,C,D 01 02 03 04

  11. Download Passcert latest CIMAPRA19-F01-1-ENG Sample Test to help you pass successfully Question 10 Which of the following is NOT a type of supply for value added tax (VAT)? A. Fixed B. Standard-rated C. Exempt D. Zero-rated Answer: A 01 02 03 04

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