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. In a listed company, to whom should internal audit report?

 
 
 
 
 

Question 2 of 20

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

Question 3 of 20

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

 
 
 
 
 

Question 4 of 20

5. 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 5 of 20

6. What aspects of a client’s undertaking do computer audit programs examine?

 
 
 
 

Question 6 of 20

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

Question 7 of 20

8. 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 8 of 20

9. What sort of ethical threat arises from the auditor auditing financial statements that the auditor also prepared?

 
 
 
 
 

Question 9 of 20

10. 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 10 of 20

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

 
 
 
 
 
 

Question 11 of 20

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

 
 
 
 

Question 12 of 20

13. 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 13 of 20

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

Question 14 of 20

15. 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 15 of 20

16. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 16 of 20

17. There are two types of CAAT (computer assisted audit techniques). One is audit software.

What is the other?

 
 
 
 

Question 17 of 20

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

 
 
 
 
 
 

Question 18 of 20

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

 
 

Question 19 of 20

20. Which one of the following pairs of evidence is better? Indirect evidence v auditor-direct

 
 

Question 20 of 20

 

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