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ACCA FR Chapter 1 IASB Conceptual Framework Questions

VIVA

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Comments

  1. EyobAA says

    February 22, 2025 at 6:58 pm

    it’s a great help to refresh

    Log in to Reply
  2. EmilyEze says

    December 23, 2021 at 10:52 am

    Hi There,

    I see that some people have already metioned this but I’ll just go ahead and mention it just to let you know that it still han’t been updated.

    the answer to question 6 is Understandability and the question will mark correctly but the answer box is showing ‘relevance’ as the answer.

    Best regards

    Log in to Reply
  3. KirstyRoseL says

    December 10, 2021 at 2:35 pm

    Hi, on the answer to Question 6; the green tick is next to “Understandability”, however, the text box says the answer is “Relevance”.
    Which is the actual correct answer?
    Thank you in advance!

    Log in to Reply
  4. james says

    November 15, 2021 at 4:33 pm

    This is the correct answer for question 5 as per my selection. However, this was marked wrong.

    • Income
    Income is increases in assets (or decreases of liabilities) that result in increases in equity, other
    than contributions from equity participants.

    Log in to Reply
    • barbjohn says

      November 16, 2021 at 7:45 am

      I’ve just answered the same and it’s marked as correct. There are two very similar options – are you sure that you read them both and selected the appropriate one?

      Log in to Reply
      • mohammedmustapha200@yahoo.com says

        August 3, 2022 at 6:03 pm

        Thanks

  5. cp15009 says

    June 9, 2021 at 4:04 am

    Helpful to evaluate self

    Log in to Reply
  6. WarsameDj says

    November 19, 2020 at 12:14 pm

    Scored My First Practice Test 100%, this has motivated me a lot and i am eager to continue learning

    Log in to Reply
  7. Ayowale says

    August 27, 2020 at 2:36 am

    Question 4: PV is not and can never be a basis for measurement in the financial statement but can form basis for estimates. According to the conceptual framework, 1. Historical cost, 2. Fair Value(as in Net realizable value), 3. Value in use, 4. Current Cost (Carrying Amount or book value) are recognized.

    Current Value (NOT PRESENT VALUE) includes fair value, Value in use and Current cost.

    Therefore, the answer to question 4 in ‘Present value’ as its the odd of them all.

    Cheers!

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  8. NOKULUNGAK says

    May 2, 2020 at 6:53 pm

    I don’t understand why the quiz said the realisable value is one of the measurement bases instead of the value in use because the conceptual framework says its the value in use

    Log in to Reply
  9. MercyBrifa42 says

    February 12, 2020 at 10:47 pm

    Hi Harry,
    Please I think the answer for question 4 should be “Realisiable value” fir the measurement basis as per the updated conceptual framework. If not,can you explain why it’s rather “Value in use”.
    Thank you

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    • elleskrack says

      May 10, 2020 at 4:23 pm

      The question was very clear when it said in accordance with the “conceptual framework.”
      Thanks

      Log in to Reply
  10. bwaks says

    August 28, 2019 at 4:35 pm

    Value in use is a basis according to the latest technical update. Please revisit

    Log in to Reply
  11. syamkamath says

    July 18, 2019 at 3:59 pm

    Is not realizable value the correct answer for Question 4 as per updated conceptual framework?

    Log in to Reply
  12. rashidsiddiq says

    December 15, 2018 at 9:44 am

    plz guide how to download f7 lectures videos

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    • MikeLittle says

      December 15, 2018 at 12:12 pm

      Lectures are not downloadable – but you can watch them as many times as you want

      It’s the only way that we can keep the site free

      Log in to Reply
  13. susujulietoefl says

    November 19, 2018 at 5:18 am

    Dear professor, can you take an example of Q5 “increase in equity from equity participants”?
    I am a litttle bit confuse.
    Does it mean that if I am an investor, then I buy a company stock, when the stock price higher than the amount I invest, then I sell out the stock and gain.
    This gain is “increase in equity from equity participant” so it can not be calculated as company income right?

    I am not sure about who are equity participants, and when their equity increase.

    Thanks

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    • Ayowale says

      June 15, 2020 at 2:17 am

      “increase in equity from equity participants” means that inflows from the sales of shares for instance “right issues” cannot be termed an “Income”. The proceed from such will increase equity via O/S and S/P but never “Retained Earnings”. Revaluation surplus is also an income which is recognized in OCI.

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  14. kaira26299 says

    August 2, 2018 at 12:09 am

    Question 6 is asking for an enhancing characteristic but the answer is a fundamental characteristic.
    I believe it should be understandability and not relevance.
    May you please kindly check it and give us feedback back.

    Log in to Reply
    • kasiek61 says

      August 17, 2018 at 2:00 pm

      I agree with you, in my opinion also should be understandability

      Log in to Reply
      • P2-D2 says

        August 17, 2018 at 2:30 pm

        Thanks for spotting the above, I’ll get it updated.

        Thanks

      • keyroh says

        January 14, 2020 at 9:26 am

        Hello,
        Just to nit-pick in case it causes confusion. Q6 is now recognized as understandability being the right answer, but when reviewing the question it still says “The answer is relevance”

  15. alikhakar says

    August 1, 2018 at 5:54 am

    I suggest tutor should review answer to question no. 6, It should be “understandibility” and not “Relevane” because the question is asking about enhancing qualitative characteristics and not fundamental characteristics.

    Log in to Reply
    • anyabansal says

      March 29, 2019 at 1:48 pm

      Answer is both Relevance and Understandibily

      Log in to Reply
  16. windofchange says

    July 23, 2018 at 12:32 pm

    Hi!

    There is some kind of error. I can not open any questions.

    Log in to Reply

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