F7 (FR) – Chapter 21 – PART D – CBE MCQs – ACCA

These are ACCA F7 (FR) Financial Reporting MCQs for Part-D of the Syllabus “Preparation of financial statements”.

These multiple-choice questions (MCQs) are designed to help ACCA F7 students to better understand the exam format. We aim to instill in students the habit of practicing online for their CBE exams. By doing so, students can reduce exam stress and prepare more effectively.

Please note:

  • Students should not attempt these MCQs until they have finished the entire chapter.
  • All questions are compulsory, so please do not skip any.

We hope that these MCQs will be a valuable resource for students preparing for the ACCA F7 (FR) exam.

INFORMATION ABOUT THESE CBE MCQs Test/Quiz

Course:ACCA – Association of Chartered Certified Accountants
Fundamental Level:Applied Skills
Subject:Financial Reporting
Paper:F7 – FR
Chapter and Topic21 – Statements of cash flow
Syllabus Area:D – “Preparation of financial statements”
Questions Type:CBE MCQs
Exam Section:Section A

Syllabus Area

These Multiple Choice Questions (MCQs) cover the Syllabus Area Part-D of the Syllabus; “Preparation of financial statements” of ACCA F7 (FR) Financial Reporting Module.

Time

These MCQs are not time-bound. Take your time and solve them without stress. Pay proper attention and focus. Do not rush or hesitate

Result

Students will get their F7 CBE MCQs Test results after they finish the entire test. They will also be able to see the correct and incorrect answers, as well as explanations for the incorrect questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all those answers which seem correct/ or incorrect to you, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)“.
Drop-down: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.

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F7 (FR) - Chapter 21 - Part D - MCQs - Statements of cash flows

Course: ACCA - Association of Chartered Certified Accountants
Subject:
F7 (FR) - Financial Reporting
Syllabus Area: D - Preparation of financial statements
Chapter: 21 - Statements of cash flows
Exam Section: Section A
Questions type: MCQs
Time: No Time Limit

INSTRUCTIONS

  1. If you are using mobile, turn on the mobile rotation and solve the MCQs on wide screen for better experience.

REQUEST

  1. Please rate the quiz and give us feedback once you completed the quiz.
  2. Share with ACCA students on social media such as, Facebook Groups, Whatsapp, Telegram, etc.

1 / 5

Extracts from Deltoid Co's statements of financial position are as follows:

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH

20X1 20X0
$'000 $'000
Non-current assets
   Property, plant and equipment
   Right-of-use asset 6,500 2,500
Non-current liabilities
   Lease obligations 4,800 2,000
Current liabilities
   Lease obligations 1,700 800

During the year to 31 March 20X1 depreciation charged on leased plant was $1,800,000.

What amount will be shown in the statement of cash flows of Deltoid Co for the year ended 31 March 20X1 in respect of payments made under leases?

2 / 5

The following information is available for the property, plant and equipment of Fry Co as at 30 September:

20X4 20X3
$'000 $'000
Carrying amounts 23,400 14,400

The following items were recorded during the year ended 30 September 20X4:

  1. Depreciation charge of $2.5 million
  2. An item of plant with a carrying amount of $3 million was sold for $1.8 million
  3. A property was revalued upwards by $2 million
  4. Environmental provisions of $4 million relating to property, plant and equipment were capitalised during the year

What amount would be shown in Fry Co's statement of cash flows for purchase of property, plant and equipment for the year ended 30 September 20X4?

3 / 5

The carrying amount of property, plant and equipment was $410 million at 31 March 20X1 and $680 million at 31 March 20X2. During the year, property with a carrying amount of $210 million was revalued to $290 million. The depreciation charge for the year was $115 million. There were no disposals.

What amount will appear on the statement of cash flows for the year ended 31 March 20X2 in respect of purchases of property, plant and equipment?

4 / 5

Extracts from the statements of financial position of Nedburg Co are as follows:

Statements of financial position as at 30 September:

20X2 20X1
$m $m
Ordinary shares of $1 each 750 500
Share premium 350 100

On 1 October 20X1 a bonus issue of one new share for every ten held was made, financed from share premium. This was followed by a further issue for cash.

Using the drop down options available, what amount will appear under 'cash flows from financing activities' in the statement of cash flows of Nedburg Co for the year ended 30 September 20X2 in respect of share issues?

5 / 5

The statement of financial position of Pinto Co at 31 March 20X7 showed property, plant and equipment with a carrying amount of $1,860,000. At 31 March 20X8 it had increased to $2,880,000.

During the year to 31 March 20X8 plant with a carrying amount of $240,000 was sold at a loss of $90,000, depreciation of $280,000 was charged and $100,000 was added to the revaluation surplus in respect of property, plant and equipment.

What amount should appear under 'investing activities' in the statement of cash flows of Pinto Co for the year ended 31 March 20X8 as cash paid to acquire property, plant and equipment?

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