ACCA F3 Specimen Exam Section A MCQs Lecture 1
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Dear Sir, isn’t the video available anymore?
Hi, I don’t understand Q5. For number 2 why is it not debited to receivables, because you are receiving cash credited from the cash account and debited in receivables because you are receiving cash.
Sorry in advance as I dont understand this topic even after watching your lecture.
I don’t know which lecture you have watched – this question is testing basic double entry – but I suggest you watch all of the Paper FA lectures. They are a complete free course for Paper FA.
When cash is received, we should debit cash and credit receivables. Choice (2) says that they have credited cash and credited receivables (because it says it has been correctly done in receivables). Making two credits automatically means that the trial balance will not balance.
thank you now I understand. I’m new to ACCA so still learning 馃檪
You are welcome 馃檪
This was really informative,Thank you so much.
Thank you for your comment 馃檪
How are you!!!
Do we transfer both normal and abnormal loss to the Income Statement ?I am stuck there,please.
Why are you asking this here? Normal and abnormal losses are part of process costing which is examined in Paper F2 – not in Paper F3! They are explained in detail in my free F2 lectures on process costing.
(By the way, ‘Income Statement’ is not a term we use any more – it is Statement of Profit or Loss).
Sir the type of question given in specimen exam i.e Q4 were included in your regular lectures??? I have taken many of your lectures but didn’t find this type of question containing missing figure??
But it doesn’t require any extra knowledge – just practice. That is why I have uploaded lectures working through the specimen questions.
thanks for taking your time to explain in depth. God bless you
You are welcome 馃檪
Thank you!
You are welcome 馃檪
Hi Sir, I dun understand Question no. 3 . Why company exposure to debts and liability is limited are false?
Because the companys exposure is not limited! If the company cannot pay its liabilities then it goes bankrupt (goes into liquidation).
It is the exposure of the shareholders that is limited to the money that they have invested in the company – that is why it is called a limited company.
I do suggest that you watch our free lectures – this is explained in one of the first chapters.
I get it… thank you… ?
You are welcome 馃檪
Are there notes for these revision qs? 馃檪
These are not revision question and therefore do not need notes!!!
These lectures are working through the ACCA specimen exam – you can download it from the ACCA’s website.
What is the format for computer base exam please ?
is there any 15 marks question ? ( structure?)
The format is the same as the paper-based exam (including 15 mark questions).
You can find a sample computer based exam on the ACCA website.
We also have our own mock exam on this website linked from the main F3 page.
a bit too slow but understandable
Better too slow than too fast! 馃檪
I really understood the concepts, thanks.
You are welcome 馃檪