ACCA Practice Test Questions with Correct Answers

ACCA Practice Test Questions with Correct Answers Accountability of Internal audit - ANSWER CC 1 access all parts of th organization 2auditor can freely comment the performance of managent 3should be actioned at th highest level to ensure its effectice implementation Absolution - ANSWER FC one set of ethic rules should fits in all cultures without exception Accounting - ANSWER CC 1the transactions: book of primary entry 2analysed and posted to ledger 3summarised in financial statement ACCA code of ethics and conduct - ANSWER FC ICOPP 1integrity 2confidentiality 3objectivity 4professional behavior 5professional competence and due care Acvomodation strategy - ANSWER BC companies taje social responsibilities when 1 interest groups wncourage them or if they dont do it, government will interve others: proactive S prepare to do reactive S public ask them to do defensive S avoid to do Accountability of management - ANSWER DC is rendered upwards is obliged to report to their boss is accountable to their superiors for their actions accountability of ethic (frame of rules) - ANSWER FCwhether companies are anserable in sone way for conaequences of their actions Accountability of individuals(ethic principle of public life) - ANSWER FC Individuals should be accountable to others and subject themselves to whatever scrunity to their office Accounting Packages(incomouterised system) - ANSWER CC nearly the same with day books, ledger accounts, trial balance etc but invisible now. ASB (International accounting standards board) - ANSWER CC ( the regulatory system) Financial reporting global accounting standards rigours application convergence of national accounting standards