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

 
 
 
 

Question 1 of 20

2. A receivables circulation in which a reply is expected from each customer written to, stating whether or not they agree with the balance.

This is a …

 
 
 
 

Question 2 of 20

3. 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 3 of 20

4. What sort of ethical threat arises from the auditor owning shares in the company audited?

 
 
 
 
 

Question 4 of 20

5. ISA500 states that auditors must obtain ***** ***** audit evidence to be able to draw reasonable conclusions on which to base an audit opinion.

What words are represented by ***** ***** ?

Question 5 of 20

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

 
 
 

Question 6 of 20

7. What word should be in place of * * *? A matter is material if its omission or misstatement would reasonably affect the * * * of an addressee of the auditors’ report.

Question 7 of 20

8. Do auditors have a duty to detect fraud?

 
 

Question 8 of 20

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

 
 
 
 

Question 9 of 20

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

 
 
 
 

Question 10 of 20

11. The public may perceive that a member’s objectivity is likely to be in jeopardy where fees….. exceed X%… Where the entity is listed or a public interest company, this figure should be Y%.

 
 
 
 
 
 

Question 11 of 20

12. What type of sampling is being used if, say, every 200th invoice is examined?

 
 
 
 
 

Question 12 of 20

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

 
 
 
 
 

Question 13 of 20

14. Here is an excerpt from an audit report, what word should replace * * *?

“We planned and conducted our audit to obtain * * * assurance that the financial statements are free from material misstatement”

Question 14 of 20

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

The other reason is:

 
 
 
 

Question 15 of 20

16. 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 16 of 20

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

 
 
 
 
 
 

Question 17 of 20

18. 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 18 of 20

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

 
 

Question 19 of 20

20. * * * 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 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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