Pass CIMA P1 Exam Final Test - Cimadumps.us

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Cima P1 Exam Dumps
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Cima P1 Exam Dumps Sample Questions Answers
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Question 1
Which ONE of the following is NOT considered to
be a cost of holding inventory? A. Loss of
goodwill as a result of being unable to complete
customer orders due to lack of inventory B.
Insurance cost of inventory C. Storage cost of
inventory D. Interest on cash invested in
inventory
Answer A
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Question 2
Which of the following is not a symptom of
overtrading? A. Increasing levels of
inventory B. Increasing levels of trade
receivables C. Increasing levels of current
liabilities D. Increasing levels of long term
borrowings
Answer D
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Question 3
Which ONE of the following is NOT considered to
be a cost of holding inventory? A. Loss of
goodwill as a result of being unable to complete
customer orders due to lack of inventory B.
Insurance cost of inventory C. Storage cost of
inventory D. Interest on cash invested in
inventory
Answer A
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Question 4
A company is considering offering its customers
an early settlement discount. The company
currently receives payments from customers on
average 65 days after the invoice date. The
company is considering offering a 2 early
settlement discount for payment within 30 days of
the invoice date. The effective annual interest
rate of the early settlement discount using
compound interest methodology and assuming a 365
day year is A. 22.94 B. 20.86 C. 23.45 D.
27.85
Answer C
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Question 5
A certificate of deposit is best described
as A. A debt instrument which offers a fixed
rate of interest over a fixed period of time and
with a fixed redemption value. B. A negotiable
instrument which provides evidence of a fixed
term deposit with a bank. C. A document which
sets out a commitment to deposit a sum of money
at a specified point in time. D. A certificate
which shows ownership of part of the share
capital of a company.
Answer A
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Question 6
AB is preparing its cash budget for the next
quarter. Which of the following items should NOT
be included in the cash budget? A. Payment of
tax due on last years profits B. Gain on the
disposal of a piece of machinery C. Repayment of
the capital amount of a loan D. Receipt of
interest from short term investments
Answer B
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Question 7
A company has a money cost of capital of 9. The
rate of inflation is 3. The companys real cost
of capital is nearest to? A. 6.0 B. 12.0 C.
12.3 D. 5.8
Answer D
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Question 8
The correct definition of a bill of exchange
is? A. A negotiable instrument which provides
evidence of a fixed-term deposit with a bank B. A
document setting out a commitment to pay a sum of
money at a specified point in time C. A debt
obligation with a long term maturity usually
issued by companies and governments D. A legal
document showing the right to receive interest
and capital repayment
Answer B
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Question 9
FP has decided not to use the EOQ and has decided
to order 2,600 calculators each time an order is
placed. The total ordering and holding costs per
annum will be A. 5,240 B. 19,800 C.
208,014 D. 3,420
Answer D
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Question 10
The economic order quantity (EOQ) for this model
of calculator will be? A. 2,438 units B. 771
units C. 67 units D. 2,060 units
Answer A
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