CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 72 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam

Question #: 72
Topic #: 1

[All CIMAPRA17-BA3-1 Questions]

Which of the following is an example of where the historic cost convention should be applied?

AA potential bad debt of 8,000.

BRaw materials purchased for $2.50 per kg now costing $2.60 per kg.

CExpenditure on research and development.

DA change to the method used to value inventory and work in progress.

Show Suggested Answer

Suggested Answer: D, E

by Loreta at Jul 25, 2023, 06:05 AM

Limited Time Offer

25%

Off

Get Premium CIMAPRA17-BA3-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Magda

7 days ago

I think the historic cost convention should be applied to the raw materials purchased for $2.50 per kg. The cost hasn't changed, so we should stick to the original price.

upvoted 0 times

...

Rima

17 days ago

Why do you think that?

upvoted 0 times

...

Vincent

21 days ago

I disagree, I believe it should be applied to option A.

upvoted 0 times

...

Rima

24 days ago

I think the historic cost convention should be applied to option B.

upvoted 0 times

...