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. What is the correct treatment of a contingent asset where the inflow of economic benefits is not probable?

 
 
 

Question 1 of 20

2. An auditor gives weekly advice to a client on a wide range of matters (financial and non-financial). What sort of threat can this give rise to?

 
 
 
 
 

Question 2 of 20

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

 
 
 
 

Question 3 of 20

4. 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 4 of 20

5. As more items are examined in the sample, sampling risk…..

 
 

Question 5 of 20

6. What quality the auditor should NOT look for in third parties who are carrying out some audit work?

 
 
 
 

Question 6 of 20

7. The title of the paragraph that can be inserted in an audit report to draw users’ attention to a note in the financial statements is:  an emphasis of  ***** paragraph

Question 7 of 20

8. 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 8 of 20

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

 
 
 
 

Question 9 of 20

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

Question 10 of 20

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

 
 

Question 11 of 20

12. In what type of document would the following sentence be typically found?

“We have no plans or intentions that might materially affect the carrying value or classification of assets and liabilities reflected in the financial statements”

 
 
 
 

Question 12 of 20

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

What word should be in place of * * *?

Question 13 of 20

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

 
 
 
 

Question 14 of 20

15. * * * 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 15 of 20

16. An audit is the **** examination of, and expression of opinion on, the financial statements of an entity.

Question 16 of 20

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

 
 
 
 
 
 

Question 17 of 20

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

 
 
 
 
 

Question 18 of 20

19. Audit reports can be qualified for two reasons. On reason is inability to collect sufficient appropriate audit evidence.

The other reason is:

 
 
 
 

Question 19 of 20

20. If an auditor advises clients to buy shares in another client, what sort of ethical threat arises?

 
 
 
 
 

Question 20 of 20

 

Comments

  1. avatar says

    Excellent test especially for revision purposes and cover most examinable topics. Well done Open Tuition!
    I scored 85% and I hope this will augur well for the exam day.
    Thank you for your support – these are extremely useful tests.

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