Question bank · ICAP PRC

PRC-1 Fundamentals of Accounting MCQs with Answers

1000 multiple-choice questions for Fundamentals of Accounting, organised chapter by chapter, each with the correct answer and a worked explanation. Essential accounting principles, theory, and practice questions. Read them here, then switch to a timed mock to test yourself under exam pressure.

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Chapter 1Accounting Basics100 MCQs
Chapter 2Books of Prime Entry100 MCQs
Chapter 3Ledgers and Trial Balance100 MCQs
Chapter 4Accruals and Prepayments100 MCQs
Chapter 5Bad and Doubtful Debts100 MCQs
Chapter 6Property, Plant and Equipment100 MCQs
Chapter 7IAS 2: Inventories100 MCQs
Chapter 8Correction of Errors100 MCQs
Chapter 9Bank Reconciliations100 MCQs
Chapter 10Preparation of Financial Statements100 MCQs

How to use this PRC-1 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.