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ACCA Financial Accounting (FA) Practice Exam

This exam is for students at the Applied Knowledge level of the ACCA qualification, developing skills in preparing and interpreting financial statements. Passing is a mandatory step towards becoming a qualified chartered certified accountant.

Pass mark 50/72 120 minutes Real test fee approx Association of Chartered Certified Accountants (ACCA) How many can I get wrong?
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Try 3 real ACCA Financial Accounting (FA) Practice Exam questions
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Q1. Which of the following user groups is primarily interested in a company's profitability and ability to pay dividends as a return on their investment?
  • A.  Lenders
  • B.  Suppliers and trade creditors
  • C.  Government agencies
  • D.  Investors
Show answer & explanation
✓ Answer: D. Investors
Investors provide risk capital and are primarily concerned with the return on their investment, which includes potential dividends and capital growth, both driven by profitability.
Q2. For financial information to be a perfectly faithful representation, it must be complete, neutral, and free from error. Which of these attributes is most compromised if management deliberately chooses an accounting policy to overstate profits?
  • A.  Completeness
  • B.  Neutrality
  • C.  Freedom from error
  • D.  Relevance
Show answer & explanation
✓ Answer: B. Neutrality
Neutrality requires that financial information is presented without bias. Deliberately choosing a policy to overstate profits introduces management bias, thus violating neutrality.
Q3. Which of the following errors would NOT be revealed by the extraction of a trial balance?
  • A.  A cash receipt of $100 was debited to the bank as $10 and credited to receivables as $100.
  • B.  A purchase of $500 was completely omitted from the accounting records.
  • C.  The closing balance on the rent account of $2,000 was listed on the credit side of the trial balance.
  • D.  A sales invoice was credited to the sales account but no debit entry was made.
Show answer & explanation
✓ Answer: B. A purchase of $500 was completely omitted from the accounting records.
An error of omission, where a transaction is completely missed, means both the debit and credit are omitted, so the trial balance will still balance.
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The Context and Purpose of Financial Reporting · 40
Qualitative Characteristics of Financial Information · 40
The Use of Double-Entry and Accounting Systems · 30
Recording Transactions and Events · 20
Preparing a Trial Balance · 16
Preparing Basic Financial Statements · 20
Preparing Simple Consolidated Financial Statements · 16
Interpretation of Financial Statements · 20
ACCA Financial Accounting (FA) Practice Exam — common questions
Frequently asked
How many questions are in the ACCA Financial Accounting (FA) Practice Exam?
The exam has 72 questions. Every Revision Robin mock uses the same 72-question format so your practice matches the real thing.
What is the pass mark for the ACCA Financial Accounting (FA) Practice Exam?
You need 50 out of 72 correct to pass, which is about 69%. Our mocks mark you against this exact threshold.
How long do you get?
The test is timed at 120 minutes. Our full mock runs on the same clock so you can practise your pacing.
Are these the real exam questions?
No. Our questions are original and written to match the current syllabus, so they give realistic practice without copying the official paper. Every answer comes with a plain-English explanation. Always confirm current rules and content with Association of Chartered Certified Accountants (ACCA).
How much does the official test cost?
The official Association of Chartered Certified Accountants (ACCA) fee is approx. Revision Robin practice is separate and helps you pass first time so you only pay that fee once.