CIMA Exam CIMAPRA19-F02-1 Topic 1 Question 66 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam

Question #: 66
Topic #: 1

[All CIMAPRA19-F02-1 Questions]

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

ADeferred tax assets and liabilities are not classed as identifiable assets

BContingent assets and liabilities are examples of exceptions to the rules governing identifiable assets

CTo be identifiable assets must be separable from the subsidiary

DAssets can also be identifiable if they arise from contractual or legal rights

ENet assets must be identifiable at acquisition

Show Suggested Answer

Suggested Answer: B

by Van at Feb 25, 2023, 09:52 AM

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Karon

1 months ago

Wait, are we supposed to be identifying the incorrect statements? This is like a double negative puzzle. I need some coffee before I tackle this one.

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Lindsey

1 months ago

Ha! I bet the exam writers were trying to trip us up with that one. Of course, assets can be identifiable if they arise from contractual or legal rights. Option D is the clear winner here.

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Audry

2 days ago

Yeah, the exam writers like to throw in tricky statements. Good thing we caught that one.

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Beth

11 days ago

Definitely, it's important to pay attention to the details when it comes to identifying assets.

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Cherilyn

15 days ago

I agree, option D is definitely correct. Assets can be identifiable if they arise from contractual or legal rights.

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Wilbert

17 days ago

Yeah, the exam writers always try to trick us with tricky statements. Good thing we caught that one.

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Kate

20 days ago

I agree, option D is definitely correct. Assets can be identifiable if they arise from contractual or legal rights.

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Lai

2 months ago

I'm a bit confused about option E. Isn't it true that net assets, not just individual assets, must be identifiable at acquisition? This seems like a tricky question.

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Sharen

6 days ago

C) To be identifiable assets must be separable from the subsidiary

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Geraldine

7 days ago

B) Contingent assets and liabilities are examples of exceptions to the rules governing identifiable assets

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Cassandra

14 days ago

A) Deferred tax assets and liabilities are not classed as identifiable assets

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Carmen

2 months ago

Options B and C seem to be the correct answers. Contingent assets and liabilities are exceptions, and assets must be separable to be considered identifiable.

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