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 range of percentage of profit is often taken as guidance for materiality?

 
 
 

Question 1 of 20

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

 
 
 

Question 2 of 20

3. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 3 of 20

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

 
 
 
 

Question 4 of 20

5. Is the following statement true or false?

“An emphasis of matter paragraph included in an audit report means that the audit opinion is modified”

 
 

Question 5 of 20

6. Which one of the following is not one of the fundamental principles of professional ethics?

 
 
 
 
 
 

Question 6 of 20

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

 
 
 
 

Question 7 of 20

8. 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 8 of 20

9. What is a NED?

 
 
 
 

Question 9 of 20

10. A common element of analytical procedures is ***** analysis

Question 10 of 20

11. Is the following question typical of an internal control questionnaire (ICQ) or an internal control evaluation questionnaire (ICEQ)? “Can employees be paid for hours that have not been worked?”

 
 

Question 11 of 20

12. Do auditors have a duty to detect fraud?

 
 

Question 12 of 20

13. 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 13 of 20

14. There are two types of audit file, one is current audit file, the other is ****** audit file

Question 14 of 20

15. What is another name for a reasonable assurance engagement?

 
 
 
 

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. 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 17 of 20

18. What sort of ethical threat can arise from overdue fees?

 
 
 
 
 

Question 18 of 20

19. * * * 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 19 of 20

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

 
 
 
 
 
 

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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