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630416
ACCA Paper F7
Description
Professional Chartered Qualifications ACCA F7 Quiz on ACCA Paper F7, created by Shaikh Emad Gohar on 13/03/2014.
No tags specified
skills module
acca f7
professional chartered qualifications
Quiz by
Shaikh Emad Gohar
, updated more than 1 year ago
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Created by
Shaikh Emad Gohar
about 10 years ago
227
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Resource summary
Question 1
Question
Which of the following standards relate to Tangible Assets?
Answer
IAS 16
IAS 38
Question 2
Question
Which of the following Standards relate to Government Grants?
Answer
IAS 10
IAS 20
Question 3
Question
Research Expenditure is:
Answer
Expensed to Statement of Profit or Loss
Capitalized in Statement of Financial Position
Question 4
Question
Provisions are recorded as a:
Answer
Current Liability
Non Current Liability
Question 5
Question
Accounting Policies are changed:
Answer
Retrospectively
Prospectively
Question 6
Question
Finance and Operating Leases are same in accounting treatment.
Answer
True
False
Question 7
Question
Sale or return basis involves the recognition of Revenue.
Answer
True
False
Question 8
Question
Contingent Asset is no longer a Contingent Asset when it is:
Answer
Virtually Certain
Probable
Possible
Remote
Question 9
Question
Contingent Liabilities and Contingent Assets are disclosed not adjusted.
Answer
True
False
Question 10
Question
Which paper is the father of F7?
Answer
P2
P4
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