CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 40 Discussion

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

Question #: 40
Topic #: 1

DEF prepares its financial statements to 30 September each year On 1 March 20X5 DEF acquires an office and immediately rents it to a tenant charging $2,400 a quarter payable in advance.

The tenant pays $2,400 on each of the following days 1 March 20X5, 6 June 20X5, 4 September 20X5 and 1 December 20X5.

What is the liability reported in the statement of financial position relating to the rent at 30 September 20X5?

A$7,200

B$1,600

C$4,000

D$5,600

Show Suggested Answer

Suggested Answer: D

by Chanel at May 05, 2022, 12:22 AM

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