CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 105 Discussion

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

Question #: 105
Topic #: 1

Entity HJ is a small business. In the period. Entity Hj earned revenue of 24,300, had opening inventories of 1,500 and closing inventories of 8,000. Purchases came to 13,200.

What was Entity Hj's gross profit or loss for this period?

A17,600 profit

B6,700 loss

C17,600 loss

D6,700 profit

E31,000 profit

Show Suggested Answer

Suggested Answer: B

by Olive at Jan 11, 2025, 12:59 PM

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Yolando

5 days ago

But Entity HJ had revenue of 24,300 and purchases of 13,200, so the gross profit should be higher than 6,700 loss.

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Jolene

7 days ago

I disagree, I believe it's B) 6,700 loss.

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Yolando

8 days ago

I think the answer is A) 17,600 profit.

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