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ACCA Bundled Exams Questions and Answers - Updated 2024
ACCA Bundled Exams Questions and Answers - Updated 2024
[Show more]ACCA Bundled Exams Questions and Answers - Updated 2024
[Show more]Financial Reporting F7 ACCA 2024 Exam 
Questions and Answers 
purpose of financial reporting - ANSWERto provide information to the users i.e. creditor, lendor and 
investers. they are the primary users 
IFRS 9 effective interest rate table - ANSWERAC B/F... interest expense... interest paid.... AC C...
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Add to cartFinancial Reporting F7 ACCA 2024 Exam 
Questions and Answers 
purpose of financial reporting - ANSWERto provide information to the users i.e. creditor, lendor and 
investers. they are the primary users 
IFRS 9 effective interest rate table - ANSWERAC B/F... interest expense... interest paid.... AC C...
ACCA AA 2024 Exam Questions and 
Answers 
Who are the Stakeholders in an Audit? - ANSWERShareholders 
Directors 
Employees 
HMRC 
Suppliers 
The Public 
What are the conditions for audit exemption? - ANSWER2 or more: 
Turnover <10.2M 
Assets <5.1M 
Employees <50 
©EMILLECT 2024/2025 ACADEM...
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Add to cartACCA AA 2024 Exam Questions and 
Answers 
Who are the Stakeholders in an Audit? - ANSWERShareholders 
Directors 
Employees 
HMRC 
Suppliers 
The Public 
What are the conditions for audit exemption? - ANSWER2 or more: 
Turnover <10.2M 
Assets <5.1M 
Employees <50 
©EMILLECT 2024/2025 ACADEM...
ACCA Advanced Audit and Assurance 
Exam Practice Questions and Answers 
Define materiality - ANSWERMatters are material if their omission or misstatement could influence 
the economic decisions of users of the financial statements. 
What are the materiality benchmarks? - ANSWER- Above 1⁄2- 1% of r...
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Add to cartACCA Advanced Audit and Assurance 
Exam Practice Questions and Answers 
Define materiality - ANSWERMatters are material if their omission or misstatement could influence 
the economic decisions of users of the financial statements. 
What are the materiality benchmarks? - ANSWER- Above 1⁄2- 1% of r...
ACCA BT Chapter 12 Law and Regulation 
Governing Accounting Exam Study Guide 
Regulatory bodies - Authorities - ANSWERcompanies and houses in the UK 
Other Authorities - Authorities - ANSWERfinancial conduct authority, charities, Commission and 
OFGEM in the UK 
Tax Authorities - Authorities - ANSWE...
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Add to cartACCA BT Chapter 12 Law and Regulation 
Governing Accounting Exam Study Guide 
Regulatory bodies - Authorities - ANSWERcompanies and houses in the UK 
Other Authorities - Authorities - ANSWERfinancial conduct authority, charities, Commission and 
OFGEM in the UK 
Tax Authorities - Authorities - ANSWE...
ACCA F3: Priority Exam Practice 
Questions and Answers 
Main Accounting equation (PROFIT = ?) - ANSWERPROFIT = INCREASE IN NET ASSETS + DRAWINGS - 
CAPITAL INTRODUCED 
Main Accounting equation (increase in net assets = ?) - ANSWERCLOSING NET ASSETS - OPENING 
NET ASSETS 
Gross Profit formula - ANSWE...
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Add to cartACCA F3: Priority Exam Practice 
Questions and Answers 
Main Accounting equation (PROFIT = ?) - ANSWERPROFIT = INCREASE IN NET ASSETS + DRAWINGS - 
CAPITAL INTRODUCED 
Main Accounting equation (increase in net assets = ?) - ANSWERCLOSING NET ASSETS - OPENING 
NET ASSETS 
Gross Profit formula - ANSWE...
ACCA F7 Exam Practice Questions and 
Answers 
How is revenue treated that is receivable 2 years after the goods are delivered? - ANSWERThe 
amount of revenue initially recognised is the amount receivable discounted to present value. 
Interst is then applied to the receivable as interest income over ...
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Add to cartACCA F7 Exam Practice Questions and 
Answers 
How is revenue treated that is receivable 2 years after the goods are delivered? - ANSWERThe 
amount of revenue initially recognised is the amount receivable discounted to present value. 
Interst is then applied to the receivable as interest income over ...
ACCA F7 - 15. Taxation Exam Questions 
and Answers 
Definition of current tax? - ANSWERIncome taxes payable/recoverable relating to a periods taxable 
profit or lossIr. 
Current tax unpaid for current and prior periods is recognised as what? - ANSWERA liability 
Current Tax paid in excess of amounts...
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Add to cartACCA F7 - 15. Taxation Exam Questions 
and Answers 
Definition of current tax? - ANSWERIncome taxes payable/recoverable relating to a periods taxable 
profit or lossIr. 
Current tax unpaid for current and prior periods is recognised as what? - ANSWERA liability 
Current Tax paid in excess of amounts...
ACCA F3 (Chapter 2 Study Guide Solutions 
financial reporting - ANSWERis a way of recording, analysing and summarising financial data 
financial data - ANSWERsales of goods, purchases of goods, payment of goods 
Sole trader - ANSWERbusiness owned and operated by one person, perhaps employing one or ...
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Add to cartACCA F3 (Chapter 2 Study Guide Solutions 
financial reporting - ANSWERis a way of recording, analysing and summarising financial data 
financial data - ANSWERsales of goods, purchases of goods, payment of goods 
Sole trader - ANSWERbusiness owned and operated by one person, perhaps employing one or ...
ACCA F7 - The Conceptual Framework 
Exam Practice Questions and Answers 
Advantages of the conceptual framework? - ANSWER• Standardised consistent accounting practices, 
• Standards are less subject to political pressure 
• Consistent methodology used 
• Avoids reactionary approach to settin...
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Add to cartACCA F7 - The Conceptual Framework 
Exam Practice Questions and Answers 
Advantages of the conceptual framework? - ANSWER• Standardised consistent accounting practices, 
• Standards are less subject to political pressure 
• Consistent methodology used 
• Avoids reactionary approach to settin...
ACCA FA Practice & Revision Kit Study 
Questions and Answers 
1.1 Who issues International Financial Reporting Standards? 
A The IFRS Advisory Committee 
B The stock exchange 
C The International Accounting Standards Board 
D The government - ANSWERC The role of the IASB is to develop and publish In...
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Add to cartACCA FA Practice & Revision Kit Study 
Questions and Answers 
1.1 Who issues International Financial Reporting Standards? 
A The IFRS Advisory Committee 
B The stock exchange 
C The International Accounting Standards Board 
D The government - ANSWERC The role of the IASB is to develop and publish In...
ACCA FA-Interpretation of financial 
statements, Ratios Study Guide Solutions 
Gross Profit Margin - ANSWERGross profit/sales revenue x 100 
Operating Profit Margin - ANSWEROperating profit / sales revenue x 100 
Current Ratio - ANSWERcurrent assets/current liabilities 
Quick/Acid Ratio - ANSWER(Cur...
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Add to cartACCA FA-Interpretation of financial 
statements, Ratios Study Guide Solutions 
Gross Profit Margin - ANSWERGross profit/sales revenue x 100 
Operating Profit Margin - ANSWEROperating profit / sales revenue x 100 
Current Ratio - ANSWERcurrent assets/current liabilities 
Quick/Acid Ratio - ANSWER(Cur...
ACCA FBT/BT/FAB/AB/F1 Syllabus Section 
C Practice Questions and Answers 
Purpose of accounting information - ANSWERAccounting is a way of recording, analysing and 
summarising transactions of a business. 
Accounts are produced to aid management in planning, control and decision-making, and to compl...
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Add to cartACCA FBT/BT/FAB/AB/F1 Syllabus Section 
C Practice Questions and Answers 
Purpose of accounting information - ANSWERAccounting is a way of recording, analysing and 
summarising transactions of a business. 
Accounts are produced to aid management in planning, control and decision-making, and to compl...
ACCA Financial Accounting - chapter 1: 
Introduction to financial reporting 
Complete Exam Questions and Answers 
What does the financial account include ? ( 5 main documents ) - ANSWER-Statement of cash flows 
-Statement of changes in equity 
-Statement of financial position 
-Notes 
-Statement of ...
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Add to cartACCA Financial Accounting - chapter 1: 
Introduction to financial reporting 
Complete Exam Questions and Answers 
What does the financial account include ? ( 5 main documents ) - ANSWER-Statement of cash flows 
-Statement of changes in equity 
-Statement of financial position 
-Notes 
-Statement of ...
ACCA Financial Reporting 2019 (F7) Exam 
Study Guide Solutions 
Income - ANSWERIncome is increases in economic benefits during the accounting period in the form 
of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other 
than those relating to contrib...
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Add to cartACCA Financial Reporting 2019 (F7) Exam 
Study Guide Solutions 
Income - ANSWERIncome is increases in economic benefits during the accounting period in the form 
of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other 
than those relating to contrib...
ACCA Financial Reporting Exam Study 
Guide 
IAS 1 Presentation of Financial Statements - ANSWERStates that a complete set of financial 
statements comprises: 
- A statement of financial position 
- A statement of profit or loss 
and other comprehensive income 
- A statement of changes in equity 
- A...
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Add to cartACCA Financial Reporting Exam Study 
Guide 
IAS 1 Presentation of Financial Statements - ANSWERStates that a complete set of financial 
statements comprises: 
- A statement of financial position 
- A statement of profit or loss 
and other comprehensive income 
- A statement of changes in equity 
- A...
ACCA P2 IFRS/ IAS STUDY TERMS WITH 
DEFINITIONS 
IAS 1 - ANSWERPresentation of Financial Statements 
IAS 2 - ANSWERInventories 
IAS 7 - ANSWERStatement of Cash Flows 
IAS 8 - ANSWERAccounting Policies, changes in accounting estimates and errors 
IAS 10 - ANSWEREvents after the reporting period 
IAS ...
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Add to cartACCA P2 IFRS/ IAS STUDY TERMS WITH 
DEFINITIONS 
IAS 1 - ANSWERPresentation of Financial Statements 
IAS 2 - ANSWERInventories 
IAS 7 - ANSWERStatement of Cash Flows 
IAS 8 - ANSWERAccounting Policies, changes in accounting estimates and errors 
IAS 10 - ANSWEREvents after the reporting period 
IAS ...
ACCA SBR: IFRS Standards Exam 
Questions and Answers 
What is the standard relating to adopting IFRS standard for the first time and from when does it apply? - 
ANSWERIFRS 1 
From the date of transition 
What must an entity do/produce when adopting IFRS standards for the first time (IFRS1)? - 
ANSWE...
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Add to cartACCA SBR: IFRS Standards Exam 
Questions and Answers 
What is the standard relating to adopting IFRS standard for the first time and from when does it apply? - 
ANSWERIFRS 1 
From the date of transition 
What must an entity do/produce when adopting IFRS standards for the first time (IFRS1)? - 
ANSWE...
ACCA Strategic Business Reporting (UK) 
Exam Study Guide 
The code of ethics and conduct - ANSWER• Integrity 
• Objectivity 
• Professional Competence and Due Care 
• Confidentiality 
• Professional behaviour 
Consequences of unethical behaviour - ANSWERThe consequences for individuals inc...
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Add to cartACCA Strategic Business Reporting (UK) 
Exam Study Guide 
The code of ethics and conduct - ANSWER• Integrity 
• Objectivity 
• Professional Competence and Due Care 
• Confidentiality 
• Professional behaviour 
Consequences of unethical behaviour - ANSWERThe consequences for individuals inc...
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