This FR test simulates Sections A and B of the paper FR exam. Section A consists of 15 multiple choice questions, and Section B consists of 3 scenarios each having 5 multiple choice questions. All questions are worth 2 marks and all questions should be attempted.
(The real exam will also contain a Section C consisting of 2 long-form questions)
Please read the following carefully before attempting the test:
- The time allowed is 108 minutes
- You may skip questions and return to them later; also you may go back and change your answers, provided that it is within the time allowed
- You can attempt the test as many times as you like – the questions are drawn at random from a bank of questions and so each test will be different (although obviously sometimes some questions will be repeated).
- After you have finished the test, you will be given your mark (as a %) and will be given the option to review your answers so that you can see which questions you got right and which wrong. (Please note that you will not be shown the workings for the correct answer. If you are unsure as to how the answer is arrived at then please ask in the “Ask the ACCA Tutor Forum” BUT please copy and paste the question so that we know which question you are referring to. (Simply giving the question number is not sufficient because each test has different questions))
- If you choose to attempt another test, then a window will appear with ‘yes’ and ‘no’ buttons and a question mark! You should click on ‘no’ to start a new test.
The bank from which the questions are selected will be gradually expanded, so do visit the test again regularly ?
Take ACCA FR Mock exam
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the workings for Q19?
Is change in depreciation rate considered a change in accounting estimate or a change in accounting policy?
estimate
Change in accounting policy
Change in Accounting estimate
Hello,
Can somebody help me with Question 19.
Thanks
60-70% of the questions were twisty and required quite a lot of calculation, I attempted this mock after solving Kaplan Ekit twice, which had simpler questions, I passed, but I scored less in this mock. Will the real exam have all the questions at this level?
Thank you. Please advice, as only a week is left for exam, and now I am rethinking my preparation methods, please guide.
was the exam tough as this paper bro
For the Incalculate questions for finding gain through comprehensive income, the answer given is for gain through profit or loss instead.
is there a mistake or is it something i missed.
Can I get answers for the mock exam?
Please assist with the following question; Q 26 of the mock
Flyscreen an entity that is in the final stages of preparing its financial statements for the year ended 30 June 2016.
Flyscreen’s retail department has been asked to give some thought to the likelihood of goods sold being returned. Historically this has not been a problem – over the previous 25 years returns have consistently been around the 7% – 8% mark and a provision in anticipation of 7.5% of retail sales had been made.
This year, following much stricter quality control methods being applied in the production department, it is improbable that returns will exceed 2% of sales and could be as low as 1% of sales and even those returns will more than likely be able to be resold.
Last years’ revenues were $24, 000,000. Probably as a result of the improvement in Flyscreen’s reputation for quality goods, the sales figure this year has risen to $32,000,000 and gross profit margin improved from 20% to 25%.
What figure will appear in the statement of profit or loss for the movement in Flyscreen’s provision for sales returns.
last year’s provision is
24000000*20%*7.5%=360,000
this years provision is
32000000*25%*2%=160,000
so the difference between both is 200000.
and it is an income so it is credited.
Why wasn’t the calculation done for the long term investment to derive the answer instead of the short term investment. Kindly advise
Is question 14th correct? How can Profit on disposal of tangible non-current asset be featured in “Cash flow from Operating activities”? I believe it is an investing activity. Maybe the question meant to say “Which of the following in NOT featured…”
*is NOT
profit on disposal of tangible non current assets is treated as an “adjustment” under operating activities.
Thus,it’s deducted from from profit as it is not a cash item.
The amount received in the disposal, is what is taken to investing activities.
Good day,
Can anyone help on how we got to the answer in the question below.
Promulgate’s trial balance as at 31 December, 2015 showed credit amounts of $500,000,000 and $80,000,000 against the $1 equity shares and the share premium account respectively. On 1 September, 2015 Promulgate had correctly accounted for a fully subscribed 1 for 4 rights issue at an exercise price of $1.20 each
Promulgate had paid two dividends in the year. The first dividend payment of 4 cents per share was in March and the second dividend payment of 2.5 cents per share was paid in November
What was the total dividend payment made by Promulgate during the year ended 31 December,2015
$28, 500, 000
Incorrect
The first divedend payout was before rights issue that is it relates to 400 000 shares at an amount of 16000 (400 000×4 cents)
Second dividend relates to 500 000 after rights issue, 500 000× 2.5cents= 12 500
When you add the two you get 28 500
Hi, how did you come up with 400,000 shares? I am sorry but I am really struggling with this question.
Thank you
anyone help with the question regarding the tax charge to p and L 31/12/2015?
trial balance 31/12/15 deferred tax cr 38.4mil
current tax cr 5.4mill
during the year tax temporary difference increase by $20mil , where $12mil is due to revaluation
Income tax rate 20%
no provision made, estimated tax liability based on this year’s profit excluding valuation is 22.8mil
(+) 22,800 estimated current tax for the year
(-) 5,400 trial balane (cr) which rep over provision(given)
(+)Temp difference (20,000*.20)=4,000
(=)21,400
Thank you very much also had a problem with this question but your response has got me sorted now.
Hello there. Where does the question say that it’s a credit balance of 5,400? I believe it says current liability of current tax of $5.4m. Wouldn’t this mean it’s on the debit side with the $22.8m? Many thanks
The mock is good. but i only got 18 OUT OF 50.
ony one week left
what is your advice to me
when i go through the the review answers
i found out my mistake
while i also learn alot
please i need clearification on question 26,19,20 and 28.
i still don’t understand after going through the review answer.
thanks very much.
sir question 9 for 2nd lease
payment made o1 feb 15 to 28 feb 15 so its 1 month right?
why computed as 2 month?
thx
Can you please provide solution for question no 26 – Flyscreen? Thank you!
Q9 Aristidis –> how to allocate the impairment?
question 10: impairment allocation.
total impairment 565 – 450= 115
we first exclude current assets from impairment
further we deduct first goodwill in full amount – 60 and the brand by 25 and we arrive at 115 – 60 – 25 = 30 left to allocate further between motor and PPE which we apportion by as in below:
motor 30 * 115/(115+240) = 9.72
carrying amount after impairment for motor will be 115 – 9.72 = 105.282 as per solution
Qn 20 on calculation of dividend for Promulgate I do not understand how the 21.4m was arrived at.
Shares at 31 March I calculated 400*8/12*1.2/1.04 @.04c = $12 307 692
Shares at November I calculated 500*4/12 + 400*8/12 *1.2/1.04* .025c
Please advise how 28.5m is arrived at?
we need to find no of shares before rights issue which is:
x + x/4 = 500m thus, x=400m shares before rights issue
dividend for March (before rights issue) = 400m * 0.04 $/share = 16m
dividend for November (after rights issue) = 500 * 0.025 $/share = 12.5 m,
total 28.5 m
Helo sir
i don,t understand the computaion of purchase in question 7. can you help me please?
thank you!
Q7?
yeah.
Q05/30, i didn’t get the answer, pls help me.
20% of $320,000 + 20% of the $50,000 goodwill
Q12/30 on the FR mock doesn’t make sense.
What is it that doesn’t make sense? (It makes sense to me!)
how is the working also ?
Which question?
how is the working for this question done
Which question?
Under q 28, why not 30 employees *10000 has been done , as retraining and relocating cost are not included, only redundancy are accounted for.?