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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 81 Discussion

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

Question #: 81
Topic #: 1

[All CIMAPRA17-BA3-1 Questions]

GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

AThe total spend of $185

BThe float total of $250.

CThe total of the float and total spend of $435

DThe difference between the float and total spend of $65

Show Suggested Answer

Suggested Answer: A

by Ciara at Feb 11, 2024, 07:30 AM

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Pura

7 months ago

I beliPura the correct answer is B as well, to ensure the continuous flow of petty cash.

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Shakira

7 months ago

That's a good point, but the float total is what needs to be maintained for the imprest system.

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Thaddeus

7 months ago

But wouldn't it make sense to transfer the total spend instead, which is $185?

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Charlene

7 months ago

I agree with Shakira, the float total needs to be maintained.

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Shakira

7 months ago

I think the answer is B.

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