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The Association of Chartered Certified Accountants (ACCA) tests might be difficult to prepare for, but with the correct resources and techniques, you can succeed. A tried-and-true method of increasing confidence, improving comprehension, and reinforcing important ideas across ACCA units is through practice tests. These tests help you discover your strengths and shortcomings and enhance your time management abilities by mimicking actual exam situations. Practice quizzes are a crucial component of an efficient study regimen that can help you succeed on your ACCA exams, regardless of whether you’re reviewing fundamental concepts or taking on new material. In this article we are providing some ACCA practice quizzes to prepare for the exam.
How Can Practice Quizzes Help With Your Exams
Practice quizzes are an excellent way to review material. They are created with the same level of quality as in-person tests and will give you:
- A fair assessment of your performance
- A customized feedback flowchart to assist you in organizing and concentrating on your last update task
- Knowing what to anticipate before a live exam by having experience with the exam atmosphere.
After you’ve read the entire curriculum, you should use the instantaneous online practice tests that are accessible from anywhere at any time.
Practice Quiz Topics For ACCA Exams
1: Accounting provides information on
Accountant in Business (AB):
- Business organization structure
- Corporate governance
- Accounting systems and controls
- Environmental factors affecting business
2. Management Accounting (MA):
- Budgeting and variance analysis
- Cost classification
- Marginal and absorption costing
- Performance measurement
3. Financial Accounting (FA):
- Double-entry bookkeeping
- Trial balance
- Financial statements (Balance sheet, Income statement, Cash flow)
- IFRS standards
4. Performance Management (PM):
- Decision-making techniques (Cost-volume-profit analysis, limiting factors)
- Risk and uncertainty in decision-making
- Standard costing and variance analysis
- Performance evaluation
5. Taxation (TX):
- Tax computation for individuals and corporations
- VAT principles
- Income tax and corporation tax
- Tax planning
6. Audit and Assurance (AA):
- Audit planning and risk assessment
- Internal controls
- Substantive procedures for audit
- Reporting and ethics
7. Financial Management (FM):
- Investment appraisal techniques
- Working capital management
- Business valuations
- Risk management
Resources For Practicing ACCA Quizzes
- ACCA’s Official Website:
ACCA provides past exam papers and specimen exams for each subject. Visit their resources section:
ACCA Student Resources - Online Quiz Platforms:
Websites like Kaplan, BPP Learning Media, and OpenTuition offer mock exams and practice questions tailored for ACCA students. - Quiz Apps for ACCA:
- Pocket ACCA: Features short quizzes on key topics.
- ACCA-X: Offers interactive and gamified quizzes for foundational exams.
- Books with Practice Questions:
Purchase revision kits from publishers like Kaplan and BPP, which include practice questions and solutions for each paper. - Forums and Study Groups:
Platforms like Reddit’s ACCA community, Student Room, and Facebook study groups often share resources and quizzes. - YouTube Channels:
Follow ACCA educators like:- OpenTuition
- Chartered Education
- AccaTutor
CLICK HERE FOR ACCA PRACTICE QUIZ
Sample Practice Quizzes For ACCA Exams
1. Which of the following is an external stakeholder of a company?
a) Shareholders
b) Employees
c) Suppliers
d) Managers
2. What is the primary purpose of corporate governance?
a) To increase employee engagement
b) To ensure efficient management of resources
c) To protect the interests of stakeholders
d) To enhance marketing strategies
ACCA-QUIZ-BASIC-LEVEL.pdf3. If the fixed costs are $10,000, the selling price per unit is $50, and the variable cost per unit is $30, what is the breakeven point in units?
a) 200 units
b) 300 units
c) 500 units
d) 1,000 units
4. Which of the following is an example of an indirect cost in a manufacturing company?
a) Raw materials
b) Wages of machine operators
c) Factory rent
5. Which of the following techniques is used for limiting factors in decision-making?
a) Payback period
b) Linear programming
c) Discounted cash flow
d) Internal rate of return
6. A company has actual sales of $500,000 and a breakeven sales level of $300,000. What is the margin of safety as a percentage?
a) 40%
b) 50%
c) 60%
d) 70%
7. Which of the following is an intangible asset?
a) Machinery
b) Inventory
c) Patents
d) Cash
8. If a company purchases goods for $10,000 on credit, what is the correct double-entry?
a) Debit Purchases, Credit Cash
b) Debit Purchases, Credit Accounts Payable
c) Debit Accounts Receivable, Credit Sales
d) Debit Cash, Credit Purchases
9. Which of the following income sources is exempt from income tax?
a) Salaries
b) Rental income
c) Lottery winnings
d) Dividend income
10. If a company has taxable profits of $100,000 and the corporate tax rate is 20%, how much tax is payable?
a) $15,000
b) $20,000
c) $25,000
d) $30,000
11. What is the main objective of an external audit?
a) To identify fraud
b) To provide assurance on the financial statements
c) To improve operational efficiency
d) To prepare financial statements
12. Which of the following is NOT a component of the audit risk model?
a) Inherent risk
b) Control risk
c) Business risk
d) Detection risk
13. What is the primary goal of financial management?
a) Maximizing revenue
b) Minimizing cost
c) Maximizing shareholder wealth
d) Increasing market share
14. Which of the following is a method for valuing a business?
a) Weighted average cost of capital (WACC)
b) Payback period
c) Net asset value
d) Internal rate of return (IRR)
15. Which of the following would render a contract void?
a) Misrepresentation
b) Breach of contract
c) Illegal purpose
d) Delay in performance
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