CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 85 Discussion

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

Question #: 85
Topic #: 1

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 Julian at Apr 22, 2024, 08:59 PM

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Martina

6 months ago

Exactly. So based on that rationale, I still think the answer is B.

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Carisa

6 months ago

That's a good point, But the question specifically asks about maintaining the float amount.

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Pa

7 months ago

I'm not so sure. Shouldn't we consider the total spend as well?

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Martina

7 months ago

I agree with The imprest system is maintained by keeping the float amount constant.

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Carisa

7 months ago

I think the answer is B) The float total of $250.

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Cheryll

8 months ago

We need to transfer the float total of $250.

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Leota

8 months ago

What do we need to transfer from the bank account?

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