ACCA F8 Revision Quiz

Please take ACCA F8 Revision Quiz

To complete the quiz you must answer all 20 questions, then you will be shown the results and the correct answers.

(This quiz selects 20 questions at random from the bank, so do try the test again)


1. For how long after the date of the statement of financial position should going concern be assessed?

 
 
 
 

Question 1 of 20

2. Audit risk is the risk that an **** audit opinion is given.

Question 2 of 20

3. * * * risk is the susceptability of an assertion to a misstatement that could be material individually or when aggregated with misstatements, assuming there were no related internal controls.

What word should appear for * * *?

Question 3 of 20

4. Which one of the following is not one of the financial statement assertions?

 
 
 
 
 
 

Question 4 of 20

5. What word should appear for * * *?

* * * risk is the risk that a material misstatement in an assertion will not be prevented or detected and corrected on a timely basis by the entity’s internal control.

Question 5 of 20

6. What type of audit report is given if the FS contain a pervasive material misstatement?

 
 
 
 

Question 6 of 20

7. * * * of duties implies that a number of people are involved in an accounting process or transaction.

What word should be in place of * * *?

Question 7 of 20

8. ACCA suggest that lead audit partners should be rotated no less frequently than how many years?

 
 
 
 

Question 8 of 20

9. What sort of ethical threat arises from the auditor being a close friend of the financial director of the company being audited?

 
 
 
 
 

Question 9 of 20

10. Which one of the following pairs of evidence is better?

 
 

Question 10 of 20

11. Which one of the following pair of evidence is better?

 
 

Question 11 of 20

12. When the audit firm changes, the proposed new auditor should contact the retiring auditor. If the client refuses permission for communication to take place, what should the proposed new auditor do?

 
 
 
 
 

Question 12 of 20

13. Which one of the following is NOT a component of the three components of audit risk?

 
 
 
 

Question 13 of 20

14. Which one of the following is NOT part of the five main principles of the UK Corporate Governance Code?

 
 
 
 
 
 

Question 14 of 20

15. Do auditors have a duty to detect fraud?

 
 

Question 15 of 20

16. Data held on a computer file and which is relatively permanent and which is referred to many times by programs is known as:

 
 
 
 

Question 16 of 20

17. A **** liability is a possible liability arising from past event whose existence confirmed by future events

Question 17 of 20

18. If an item is included in year-end inventory but no invoice had been received by year-end, to get cut-off correct, the cost of the item should be:

 
 
 
 
 

Question 18 of 20

19. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 19 of 20

20. What is the proper treatment of a contingent liability where there is a possible obligation or a present obligation that may, but will probably not lead to an outflow of assets?

 
 
 

Question 20 of 20

 

Comments

  1. Avatar of Hammad says

    I lost marks because of spelling mistakes. I know this is not going to happen in the exam that is why I’m not going to complain about it on the comments. Damn it, I already did. Oh well :)

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