ACCA Quizzes & Trivia

Similar to the AAIA, the Association of Chartered Certified Accountants (ACCA) is a global professional accounting body. It is actually one of the quickest growing accounting bodies in the world. Have you always desired to be a part of the ACCA? What do you know about the association and what it takes to get in? There’s only one way to find out! You need to take these quizzes now.

When was the ACCA founded? How many members does the ACCA have? How many students does the ACCA have? What does the term “chartered” refer to? True or false: Chartered Certified Accountant is a legally protected term. Where does the ACCA claim to work? How many qualifications does the ACCA offer? How do affiliates gain admission to full membership within the ACCA? Doing your homework before you begin your transition into the ACCA will make your membership process much easier.
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Here we bring you an ACCA F5 Certification exam practice test. One of the basic skills needed, regardless of the type of business opened, is to do proper accounting for either reporting or record-keeping purposes. ACCA is a...

Questions: 45  |  Attempts: 1169   |  Last updated: Sep 28, 2020
  • Sample Question
    The following costs have arisen in relation to the production of a product:   (i) Planning and concept design costs (ii) Testing costs (iii) Production costs (iv) Distribution and customer service costs   In calculating the life cycle costs of a product, which of the above items would be included? 

ACCA F4 - Agency Law Exam Practice Test Most relationships in the business environment are made through the use of agents. It is for this reason why there are some laws governing the agent and client relationship. Take...

Questions: 25  |  Attempts: 951   |  Last updated: Sep 14, 2020
  • Sample Question
    Contracts are made between the principal and the third party or directly with the agent. 

Enter your name and email address to take the Free MCQ Test on ACCA F2 / FIA FMA. Number of Questions: 15 questions Time Available: 36 mins Your score will be available instantly along with the correct answers to all...

Questions: 15  |  Attempts: 1718   |  Last updated: Jun 17, 2019
  • Sample Question
    Which of the following statements are true?  The main users of financial accouting information are external to the organisation. Cost accounting is that part of financial accounting which records the cash received and payments made by an organisation.

Enter your name and email address to take the Free MCQ Test on Accounting for Materials (ACCA F2 / FIA FMA). Number of Questions: 10 questions Time Available: 24 minutes  Your score will be available instantly on an...

Questions: 10  |  Attempts: 1312   |  Last updated: Jun 14, 2019
  • Sample Question
    The purchase price of an inventory item is $25 per unit. In each three month period the usage of the item is 20,000 units. The annual holding costs associated with one unit equate to 6% of its purchase price. The cost of placing an order for the item is $20. What is the economic order quanity for the inventory item to the nearest whole unit?

Enter your name and email address to take the Free MCQ Test on Accounting for Labour (ACCA F2 / FIA FMA). Number of Questions: 7 questions Time Available: 16 minutes  Your score will be available instantly on an...

Questions: 7  |  Attempts: 1493   |  Last updated: May 16, 2019
  • Sample Question
    An employee is paid on a piecework basis as follows:                 1 to 500 units             -   $0.50 per unit               501 to 1000 units       -   $0.75 per unit               1001 to 1500 units     -   $1.00 per unit   Only the additional units qualify for the higher rates, and rejected units do not qualify for payment.   During one day an employee produced 1200 units of which 32 were rejected.   How much did the employee earn for the day?

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ACCA Questions & Answers

What is the economic order quantity for the inventory item to the nearest whole unit?
1,461. (2x20 x (4x20,00)/Co.06x25^0.5=1,461 Units. In marketing, carrying the cost of inventory or holding cost refers to the total cost of holding inventory, which includes cost such as rent expressed as a percentage of the cost of inventory. The ec
What is the total cost at an activity of 2,000 units?
$160,000Variable Cost/Unit: [(170,000-5,000) - 135,000] / (22,000 - 16,000) = $5 Total Fixed Cost (below 17,000 units): [135,000 - (16,000 x 5)] = $ 55,000 Total Cost for 20,000 units: 55,000 + 5,000 + (20,000 x 5) = $160,000
What is the taxable trading profit for the tax year 2012/13?
1. 48,333-explanation: the business commences in 2011/12 is the first tax year. 2012/13 is the 2nd tax year. 2013/14 is the third and 2014/15 is the fourth tax year. the accounts are prepared for 31.07.12 (profit 40,000), 31.07.13 (profit 50,00
What will the taxable income for 2010/11 be?
1. nil-explanation: the total income in the tax year 2010/11 is 15,500. the trading loss can be set-off against the general income of the current year and/or preceding year. it can be done for current year first or the preceding year first. if there
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