ACCA Applied Skills Practice Questions Practice Test
Frequently asked questions
How many ACCA Applied Skills Practice Questions practice questions are here?+
A full bank of original ACCA Applied Skills Practice Questions practice questions across the official content areas, weighted like the real exam, with explanations. Free, no signup.
What is the ACCA Applied Skills Practice Questions exam like?+
A multiple-choice exam. Practice by topic here, then take the full timed mock exam to gauge readiness.
Are these the real exam questions?+
No. Every question is 100% original, written from public primary sources with explanations. We never copy real exam questions or paid prep material.
Can I study in Chinese or Spanish?+
PrepPass practice is in English, 中文 and Español. The official exam is in English — switch the question language to English any time to rehearse the exact terminology you'll see on test day.
Sample practice questions
A few real questions from this free bank, with full explanations. Use the practice tool above for the whole set.
- 1. Financial Accounting
Under double-entry bookkeeping, every debit must have an equal:
- a.Asset
- b.Credit
- c.Expense
- d.Liability
Answer: b
Explanation: Each transaction records equal debits and credits.
- 2. Financial Accounting
The accounting equation is:
- a.Assets = Liabilities + Equity
- b.Assets = Revenue - Expenses
- c.Equity = Assets + Liabilities
- d.Cash = Assets - Revenue
Answer: a
Explanation: Assets equal liabilities plus equity.
- 3. Financial Accounting
Depreciation spreads the cost of a non-current asset over its:
- a.Purchase month
- b.First year only
- c.Sale date
- d.Useful economic life
Answer: d
Explanation: Depreciation allocates an asset's cost over its useful life.
- 4. Management Accounting
Contribution is calculated as sales less:
- a.Variable costs
- b.All costs
- c.Fixed costs
- d.Tax
Answer: a
Explanation: Contribution = sales - variable costs.
- 5. Management Accounting
The value of the next-best alternative forgone is the:
- a.Fixed cost
- b.Sunk cost
- c.Standard cost
- d.Opportunity cost
Answer: d
Explanation: Opportunity cost is the benefit given up by choosing one option over another.
- 6. Financial Reporting (IFRS)
Under the accruals concept, revenue and costs are recognized when:
- a.Earned or incurred, not when cash is received or paid
- b.Cash changes hands
- c.The year ends
- d.Tax is due
Answer: a
Explanation: Accruals recognize items when earned/incurred regardless of cash timing.
- 7. Financial Reporting (IFRS)
Prudence in accounting means:
- a.Overstating profits
- b.Ignoring losses
- c.Recognizing gains early
- d.Not overstating assets or income, and not understating liabilities
Answer: d
Explanation: Prudence exercises caution so assets/income are not overstated.
- 8. Audit & Assurance
Auditor independence is important because it:
- a.Supports objectivity and credibility of the audit opinion
- b.Increases audit fees
- c.Speeds up the audit
- d.Guarantees a clean opinion
Answer: a
Explanation: Independence underpins objectivity and the value of the opinion.
- 9. Audit & Assurance
A modified (qualified) audit opinion is issued when:
- a.Everything is perfect
- b.No evidence exists at all
- c.The auditor is paid late
- d.There is a material but not pervasive misstatement or scope limitation
Answer: d
Explanation: A qualified opinion reflects a material-but-not-pervasive issue.
- 10. Financial Management
Under the NPV investment rule, a project is accepted if its NPV is:
- a.Positive
- b.Negative
- c.Zero always rejected
- d.Equal to the payback
Answer: a
Explanation: Positive-NPV projects increase shareholder value.