Escolar Documentos
Profissional Documentos
Cultura Documentos
T1
FREE ONLINE CBE BASED MOCK EXAM
20 Questions
Updated for
Exams in 2010
MINI MOCK EDITION
This publication contains only 20 questions provided free of cost. Students are invited to take part in this free
online CBE based test. This is a question paper of test to open up the answer sheet where students can
answers CLICK HERE
If you find this useful than you can buy more practice questions from www.acca-live.com or join ACCA LIVE’s
online classes where such material is provided free of cost and much more benefits. To know more about
online classes CLICK HERE
The result of the candidate will be mailed to him/her at the specified email address. We strongly recommend
that you ensure that email address you are providing is correct.
If you have any question regarding ACCA then you can contact our support department by clicking HERE and
also you can get help from E – Teacher by clicking HERE
www.acca-live.com
-3-
1
Remittance advice is sent by:
A. Customer to supplier
B. Customer to the banker of supplier
C. Customer to his own banker
D. Customer to his own accounting department
2
Remittance advice must:
3
Summer, a customer of Autumn, has returned goods purchased earlier costing 50 to Autumn. Which
document do you think Summer should issue in respect of this return?
A. Debit note
B. Credit note
C. Dispatch note
D. Invoice
Alloy is confused about recording this transaction in his books and has approached you.
Assuming the sales tax is 17.5% tell him the amount of:
www.acca-live.com
-4-
8
Which of the following statement shows the correct flow documents?
9
The account of ICE Ltd is finalizing receivables accounts. During the process he forgot to post the
discount allowed to Mr. Sushi in Sushi’s account. Because of this mistake the closing balance of Mr.
Sushi’s account is overcastted by $50. What will be the amount that will be recorded in the suspense
account to balance the trial balance?
A. 50 debit
B. 50 credit
C. 100 credit
D. 100 debit
10
Which of the following statement(s) is/are TRUE?
A. iii only
B. i and ii only
C. i only
D. ii and iii only
11
Internal auditor of Sangsung Co is analyzing the correctness of payables for month ended
November. He thinks that one of the best ways of confirming the accuracy of payables is by asking our
creditors regarding such information. Which of the following document will auditor ask the creditors to
send?
www.acca-live.com
-6-
12
What is the journal entry to record dishonored cheque?
13
Sales account is maintained in:
A. General Journal
B. Receivables Ledger
C. General Ledger
D. Sales ledger
14
Which of the following is NOT a book of prime entry?
A. Cash book
B. Sales day book
C. Pass book
D. General Journal
15
Hallmark plc is in a business of renting cars. In order to park their cars they have acquired a land on
rental basis from Landmark Co. Hallmark pays rent every month. Accountant of Hallmark has suggested
that we should allow Landmark to collect the rental money every month directly from our bank.
Which of the following facility will allow the Landmark Co to collect money directly from the bank?
16
Mr. Salahuddin Ayyubi has received a trade discount from one of his suppliers. How he should record it?
www.acca-live.com
-7-
17
A. Deposit slip
B. Pay-in slip
C. Counterfoil
D. Cheque
18
Drawee and payee of cheque can be two different persons.
True
False
19
Errors are corrected via:
A. General Journal
B. General ledger
C. Trial Balance
D. Suspense account
20
One of the benefits of keeping petty cash book is:
A. Petty expenses will be kept separate and will not be added in total expenses
B. No accounting entries regarding petty cash payment will be recorded in general ledger
C. Lesser number of entries in general ledger
D. All of the above
www.acca-live.com