Shaikh Emad Gohar
Quiz by , created more than 1 year ago

Professional Chartered Qualifications ACCA F7 Quiz on ACCA Paper F7, created by Shaikh Emad Gohar on 13/03/2014.

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Shaikh Emad Gohar
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ACCA Paper F7

ACCA Paper F7

Question 1 of 10

1

Which of the following standards relate to Tangible Assets?

Select one of the following:

  • IAS 16

  • IAS 38

Explanation

Question 2 of 10

1

Which of the following Standards relate to Government Grants?

Select one of the following:

  • IAS 10

  • IAS 20

Explanation

Question 3 of 10

1

Research Expenditure is:

Select one of the following:

  • Expensed to Statement of Profit or Loss

  • Capitalized in Statement of Financial Position

Explanation

Question 4 of 10

1

Provisions are recorded as a:

Select one of the following:

  • Current Liability

  • Non Current Liability

Explanation

Question 5 of 10

1

Accounting Policies are changed:

Select one of the following:

  • Retrospectively

  • Prospectively

Explanation

Question 6 of 10

1

Finance and Operating Leases are same in accounting treatment.

Select one of the following:

  • True
  • False

Explanation

Question 7 of 10

1

Sale or return basis involves the recognition of Revenue.

Select one of the following:

  • True
  • False

Explanation

Question 8 of 10

1

Contingent Asset is no longer a Contingent Asset when it is:

Select one of the following:

  • Virtually Certain

  • Probable

  • Possible

  • Remote

Explanation

Question 9 of 10

1

Contingent Liabilities and Contingent Assets are disclosed not adjusted.

Select one of the following:

  • True
  • False

Explanation

Question 10 of 10

1

Which paper is the father of F7?

Select one of the following:

  • P2

  • P4

Explanation

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