CIMA P2 問題集

質問 1：
A group consists of two divisions, Alpha and Beta, both of which are profit centers. Alpha sells a product to the external market and also sells it as an intermediate product to Beta.
Beta then processes further before selling the final product to the external market. The current group transfer pricing policy requires Alpha to charge Beta with the variable cost of production.
Which of the following statements is valid?
A. A dual pricing approach to transfer pricing would increase Beta's total profit and reduce Alpha's.
B. Transfer prices only affect the assessment of performance of investment centres, not of profit centres.
C. A two-part tariff would provide a more effective basis for assessing divisional performance.
D. If Alpha has unfulfilled external demand then the transfer price should always be set at variable cost.
正解：C

質問 2：
A company must decide today whether to proceed with a proposed project. If the project proceeds, the initial investment of $150,000 would be made in one year's time. The benefit of the project would be a perpetuity of $22,000 per year commencing one year after the investment is made. The company's cost of capital is 14% per year.
To the nearest $100, what is the net present value of the project?
A. $6,300
B. -$12,200
C. $7,100
D. $25,600
正解：A

質問 3：
The management of a leisure company, who are risk averse, have just approved an investment in a new amusement park. The country in which the amusement park will be located has a warm and mostly dry climate throughout the year.
A number of specific risks related to this investment have been identified as follows.
(1) Losses of very small amounts of revenue due to poor weather.
(2) A significant financial liability may arise due to the injury of a member of the public.
(3) Loss of several days of revenue due to rides being unavailable because of poor maintenance routines.
(4) Income fraud as a consequence of the high levels of cash handled by employees.
Using the TARA framework, which is the most appropriate way of managing each of these risks?
A. Reduce risk 1; transfer risk 2; avoid risk 3; accept risk 4
B. Transfer risk 1; accept risk 2; avoid risk 3; reduce risk 4
C. Accept risk 1; avoid risk 2; transfer risk 3; reduce risk 4
D. Accept risk 1; transfer risk 2; avoid risk 3; reduce risk 4
正解：D

質問 4：
Which of the following statements is correct in respect of the key feature of dual pricing?
A. The selling price recorded by the selling division is higher than the cost recorded by the receiving division.
B. Internal customers are charged a lower price than external customers to reflect savings in distribution costs.
C. Internal customers are offered trade discounts depending on the number of units they purchase.
D. Internal transfers are priced at marginal cost and a lump sum payment is made subsequently to contribute to fixed costs.
正解：A

質問 5：
A public sector service organization is considering whether to use a balanced scorecard or a value for money approach based on the three Es to assess its performance.
Which of the following are correct comparisons of the balanced scorecard and value for money based on the three Es as performance measurement frameworks?
Select ALL that apply.
A. If the organization wishes to consider both financial and non-financial performance then the balanced scorecard should be used rather than the three Es.
B. The three Es approach was designed for public sector service organizations, but the balanced scorecard approach can also be used in the public sector.
C. The public's satisfaction with the organization's services can be measured by both the three Es and the balanced scorecard.
D. Efficiency is measured as one of the three Es but the balanced scorecard does not measure efficiency.
E. The balanced scorecard is concerned with meeting the organization's objectives whereas the three Es approach is concerned only with reducing costs.
正解：B,C

質問 6：
A cost centre manager's performance is monitored based on a comparison of actual and budgeted cost.
A summary performance report for the latest period is shown below.

The actual costs include:
*$28,000 for allocated head office costs.
*$18,000 payment for a rental agreement entered into by the cost centre manager two years ago.
*$34,000 for depreciation.
What is the cost centre manager's controllable actual cost for the period?
Give your answer to the nearest $000.
正解：
$308000

質問 7：
A company is investing $200,000 in a project which will generate a cash flow of $60,000 each year for five years starting immediately. The company's cost of capital is 7%.
The net present value of the investment to the nearest $100 is $
正解：
63200

質問 8：
A company expects to sell 3,600 units of Product A at a selling price of $750 per unit during the forthcoming year. The currently expected variable cost per unit is $860 per unit. The company requires a return of 15% during the forthcoming year on its investment of $2.4 million in Product A. Absorbed general overheads are expected to amount to $40 per unit.
What is the target cost for each unit of product A in the forthcoming year?
A. $650
B. $850
C. $250
D. $900
正解：A