EXAM CODE : F1 UPDATION DATE : 2023-03-28 TOTAL QUESTIONS : 177 UPDATES : UPTO 3 MONTHS GUARANTEE : 100% PASSING GUARANTEE
F1 exam has grabbed the interest of IT students with its rising need and importance in the field. In spite of being a hard core IT exam, it can easily be passed with the help of F1 dumps material.This highly demanded and results-producing authentic dumps material can be obtained from Exam4help.com. When you will prepare under the guidance of veterans by using additional facilitating services, your certification is stamped with success.
As a favor to our students, we have availed free of cost demo version for quick quality check before going forward. You get here trust, find satisfaction and meet your success with expertly verified F1 questions answer. You can download PDF study guide right now at very cheap and attractive price and pursue your career with fast pace. Further, it is the place where you get money back guarantee in case of, though not expected, unfortunate happening and you fail to get your desired result in your final exam. In short, you are promised for definite success with student-friendly preparatory solutions. Just join our hands and leap for your successful career.
On 1 January 20X2 an entity began work on constructing a factory. It purchased the land for $14 million, built the factory buildings for $11 million and installed plant and equipment for $7 million. The project was completed on 31 December 20X3 when the factory was deemed ready to use, however, the factory did not start operations until 1 June 20X4.
A. To fund the project the entity borrowed $25 million on 1 January 20X2, with interest at 10% per year.
B. The loan was repaid in full on 31 December 20X4.
C. Calculate the total amount to be added to the cost of property, plant and equipment in respect of the above development.
D. Give your answer to the nearest $ million.
ANSWER : $37 million
DEF is considering introducing a Pay-As-You-Earn (PAYE) system but unsure of the advantages of using it.
Which of the following statements are advantages from the employees perspective of an entity using a PAYE system for collecting taxes from employees.
Select ALL that apply.
A. The employee will be able to deal with tax authority directly to make payments.
B. The employee will avoid being charged penalties for paying late.
C. The employee will calculate their own tax payment.
D. The employee does not have to complete a self assessment tax return.
E. The employee does not have to budget for their tax payments because the tax is deducted at source.
ANSWER : B, D, E
RS purchased an asset on 1 May 20X1 for $200,000, exclusive of import duties of $25,000.
The asset was sold on 1 December 20X3 for $450,000, incurring costs to sell of $15,000.
RS is resident in Country Y where indexation is allowable from the date of purchase to the date of sale.
RS is resident in Country Y where indexation is allowable from the date of purchase to the date of sale.
Capital gains are taxed at 25%.
What is the capital tax due from RS on disposal of the asset?
A. $120,000
B. $38,750
C. $30,000
D. $28,500
ANSWER : C
Which of the following is a characteristic of a defined contribution post-employment benefit scheme?
A. The amount of the post-employment benefits paid to former employees depends on how well the scheme's investments have performed.
B. The employer would make additional contributions into the scheme if the actuary predicted a shortfall in the funds available to pay post-employment benefits.
C. The amount of the post-employment benefits paid to former employees is determined at the date of their retirement using a predefined formula.
D. The employer may take a contributions holiday and stop paying contributions for a period, if the scheme's assets appear to be more than are required to meet the scheme's obligations.
ANSWER : A
LM is preparing its cash forecast for the next three months.
Which of the following items should be left out of its calculations?
A. Tax payment due, that relates to last year's profits.
B. Receipt of a new bank loan raised for the purpose of purchasing new machinery.
C. Expected loss on the disposal of a piece of land.
D. Rental payment on a leased vehicle.
ANSWER : C
