Question bank · ICAEW ACA Certificate Level

ICAEW AF Accounting Fundamentals MCQs with Answers

130 multiple-choice questions for Accounting Fundamentals, organised chapter by chapter, each with the correct answer and a worked explanation. Double entry through to single-company financial statements — Next Generation ACA Certificate Level practice. Read them here, then switch to a timed mock to test yourself under exam pressure.

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Chapter 1Accounting concepts, the Conceptual Framework and regulation11 MCQs
Chapter 2Ethics and sustainability in financial reporting7 MCQs
Chapter 3Double entry, books of prime entry and the trial balance11 MCQs
Chapter 4Sales tax (VAT)8 MCQs
Chapter 5Bank reconciliations9 MCQs
Chapter 6Control accounts9 MCQs
Chapter 7Errors, suspense accounts and correcting journals12 MCQs
Chapter 8Accruals, prepayments and deferred income9 MCQs
Chapter 9Inventory9 MCQs
Chapter 10Irrecoverable debts and allowances for receivables9 MCQs
Chapter 11Non-current assets: cost, depreciation, revaluation and disposal13 MCQs
Chapter 12Financial statements of sole traders and partnerships11 MCQs
Chapter 13Limited company financial statements12 MCQs

How to use this ICAEW AF question bank

Read a chapter end-to-end once, covering the answer before you reveal it. Then drill the same chapter in topical mode, and finish with a timed exam simulation to build speed. Wrong answers can be flagged and revisited from your subject dashboard.