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. 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 1 of 20

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

Question 2 of 20

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


Question 3 of 20

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

Question 4 of 20

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

Question 5 of 20

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


Question 6 of 20

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


Question 7 of 20

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


Question 8 of 20

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

Question 9 of 20

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


Question 10 of 20

11. Which one of the following pairs 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. 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 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. Who sets the International Standards on Auditing?


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


Question 17 of 20

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

Question 18 of 20

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


Question 19 of 20

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


Question 20 of 20



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