CIMA Exam CIMAPRA19-F02-1 Topic 1 Question 54 Discussion

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

Question #: 54
Topic #: 1

Which of the following examples of contracts will use cost of sales as the balancing figure when calculating profit or loss?

Select ALL that apply.

AContract A has a total value of50m, costs to date of42m and expected costs to completion of15m. The project's % stage of completion is 74% using the cost method.

BContract A has a total value of55m, costs to date of33m and expected costs to completion of18m.

CContract A has a total value of75m, costs to date of61m and expected costs to completion of20m. The contracts % stage of completion was calculated by dividing its value to date of45m by75m.

DContract A has a total value of60m, costs to date of42m and expected costs to completion of15m. The project's % stage of completion is 80% using the value method.

EContract A has a total value of85m, costs to date of69m and expected costs to completion of22m. The contracts % stage of completion was calculated by dividing its costs incurred to date of69m by 75m.

Show Suggested Answer

Suggested Answer: C, D

by Valentine at Jun 27, 2022, 07:29 AM

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