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F7 Revision Mock Exam

21 Comments

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This F7 test simulates Sections A and B of the paper F7 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:

  1. The time allowed is 108 minutes
  2. 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
  3. 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).
  4. 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))
  5. 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 F7 Mock exam

To benefit the most from this Mock Exam, please turn off all distractions and sit it under real exam conditions.
When you complete your exam, your result will be displayed instantly on the screen and you can review your answers.



Comments

  1. avumile says

    December 4, 2019 at 1:11 pm

    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

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  2. brookefurber says

    November 28, 2019 at 2:17 pm

    This is a rather difficult exam, but I think you can do it, I already wrote this exam and can help you. The most important thing is a thorough preparation for the exam, from here you can take an essay on any topic, I think it will be useful for you.

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  3. for8verlik says

    November 27, 2019 at 1:46 am

    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

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    • mkwalters says

      December 3, 2019 at 5:17 pm

      (+) 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

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  4. avishco says

    November 22, 2019 at 6:33 pm

    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

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  5. fiori says

    November 19, 2019 at 12:54 pm

    Can you please provide solution for question no 26 – Flyscreen? Thank you!

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  6. Martin says

    November 15, 2019 at 10:46 am

    Q9 Aristidis –> how to allocate the impairment?

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    • fiori says

      November 19, 2019 at 12:15 pm

      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

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  7. emawonedzo says

    November 1, 2019 at 4:01 am

    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?

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    • fiori says

      November 19, 2019 at 12:07 pm

      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

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  8. truthprice6 says

    October 19, 2019 at 1:05 pm

    Helo sir

    i don,t understand the computaion of purchase in question 7. can you help me please?

    thank you!

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    • aomsmith says

      October 19, 2019 at 6:41 pm

      Q7?

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      • truthprice6 says

        October 25, 2019 at 3:58 pm

        yeah.

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  9. maha1984 says

    September 16, 2019 at 10:28 am

    Q05/30, i didn’t get the answer, pls help me.

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    • MikeLittle says

      September 16, 2019 at 11:36 am

      20% of $320,000 + 20% of the $50,000 goodwill

      Log in to Reply
  10. welder90 says

    September 4, 2019 at 5:11 pm

    Q12/30 on the FR mock doesn’t make sense.

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    • MikeLittle says

      September 16, 2019 at 11:34 am

      What is it that doesn’t make sense? (It makes sense to me!)

      Log in to Reply
  11. kavan says

    September 3, 2019 at 9:53 am

    how is the working also ?

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    • MikeLittle says

      September 16, 2019 at 11:34 am

      Which question?

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  12. akhilaprakash1048 says

    August 14, 2019 at 6:53 am

    how is the working for this question done

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    • MikeLittle says

      September 16, 2019 at 11:35 am

      Which question?

      Log in to Reply

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