Free ACCA Mock Test 11 — 20 Questions + Full Answers
Association of Chartered Certified Accountants · Accountancy students · Exams: Mar, Jun, Sep, Dec
Sections: Financial Accounting · Applaa proprietary paper — free to download and print
No sign-up required · 100% free · Applaa proprietary content
Applaa ACCA Mock Test 11
applaa-acca-mock-11.pdf · 20 questions
Applaa proprietary content · Free to download and print · No sign-up required
Save PDFSample Questions — ACCA Mock 11
8 of 20 shownCorrect answers highlighted in green. Full explanations included.
A grocery distributor, Nexus Media plc, recorded net sales of £33,600 for standard-rate products (20% VAT) and £16,800 for zero-rated food products. What is the total output VAT generated on these sales?
- A.£6,720
- B.£10,080
- C.£3,360
- D.£0 (all food products are exempt from output VAT)
✓ Worked Explanation
Core Concept: Zero-Rated vs. Standard-Rated VAT Supplies In UK VAT, there are multiple categories of supply: standard-rated (20%), zero-rated (0%), reduced-rated (5%), and exempt. Both standard-rated and zero-rated are *taxable* supplies, but zero-rated generates £0 output VAT. Step-by-Step Resolution: 1. Standard-Rate Sales (£33,600): Output VAT = £33,600 × 20% = £6,720 2. Zero-Rate Sales (£16,800): Output VAT = £16,800 × 0% = £0 3. Total Output VAT = £6,720 + £0 = £6,720 Common Mistakes to A
The trial balance of Aura Goods Ltd balanced perfectly. However, it was later discovered that a purchase of equipment costing £9,600 was entered into the repairs and maintenance account. What type of error has occurred?
- A.Error of Omission
- B.Error of Commission
- C.Error of Principle
- D.Error of Reversal
✓ Worked Explanation
Core Concept: The Six Types of Accounting Errors There are six classic types of bookkeeping errors. Some cause the trial balance to disagree; others do not. This question tests recognition of errors that *hide* behind a balanced trial balance - meaning both sides are still equal, but the accounting treatment is fundamentally wrong. Step-by-Step Resolution: 1. Analyse the Error: Equipment (a non-current asset / capital expenditure) was posted to Repairs & Maintenance (a revenue expense accou
Before correcting the year-end errors, the draft profit of Solar Energy plc was £120,000. An error was discovered: Closing inventory was overstated by £6,000. What is the revised profit after correcting this error?
- A.£126,000
- B.£114,000
- C.£120,000 (no effect on profit)
- D.£108,000
✓ Worked Explanation
Core Concept: Impact of Inventory Errors on Profit The relationship between inventory and profit is one of the most important concepts in financial accounting. Closing inventory is deducted from Cost of Sales. If closing inventory is overstated, Cost of Sales is *understated*, which means Gross Profit is *overstated*. Correcting the overstatement increases COGS and reduces profit. Step-by-Step Resolution: 1. Recall the COGS Formula: Cost of Sales = Opening Inventory + Purchases Closing Invent
Nexus Media plc disposed of a delivery vehicle for £67,200. The vehicle had originally cost £112,000 and had accumulated depreciation of £56,000 at the date of disposal. What is the gain or loss on disposal to be recorded in profit or loss?
- A.Gain on disposal of £11,200
- B.Loss on disposal of £11,200
- C.Gain on disposal of £-44,800
- D.Loss on disposal of £56,000
✓ Worked Explanation
Core Concept: Profit or Loss on Disposal of a Non-Current Asset When a non-current asset is sold, the gain or loss is measured as Disposal Proceeds minus the Carrying Value (Net Book Value). It is *not* compared to the original cost. Only the written-down value at the disposal date is relevant. Step-by-Step Resolution: 1. Find the Carrying Value (NBV) at disposal date: NBV = Original Cost Accumulated Depreciation = £112,000 £56,000 = £56,000 2. Compare to Disposal Proceeds: £67,200 (rece
For the last quarter, Apex Trading Ltd had net credit sales of £48,000 (excluding VAT). Gross purchases inclusive of 20% VAT were £28,800. What is the net VAT amount payable to (or reclaimable from) the tax authority?
- A.£4,800 Payable
- B.£4,800 Reclaimable
- C.£9,600 Payable
- D.£3,840 Payable
✓ Worked Explanation
Core Concept: VAT Return - Output VAT vs. Input VAT A VAT-registered business acts as a tax collector for HMRC. It charges Output VAT on sales and reclaims Input VAT on purchases. The *net VAT payable* is the difference: Output VAT Input VAT. Step-by-Step Resolution: 1. Calculate Output VAT (tax charged to customers on sales): - Sales are NET (exc. VAT): £48,000 × 20% = £9,600 2. Calculate Input VAT (tax paid to suppliers on purchases): - Purchases are GROSS (inc. VAT): use VAT fraction
A retail store, Solar Energy plc, purchased inventories for a gross total of £4,200 inclusive of standard-rate VAT at 20%. What are the net purchase cost and the input VAT amount recoverable by Solar Energy plc?
- A.Net Cost: £3,500, VAT Recoverable: £700
- B.Net Cost: £4,200, VAT Recoverable: £840
- C.Net Cost: £3,360, VAT Recoverable: £840
- D.Net Cost: £3,500, VAT Recoverable: £0 (VAT is non-recoverable on inventories)
✓ Worked Explanation
Core Concept: Extracting VAT from a VAT-Inclusive (Gross) Price When a price is VAT-inclusive, you must use the VAT fraction to extract the tax element. You cannot simply multiply the gross price by 20% - that would over-calculate the VAT because you would be applying the rate to an amount that already contains VAT. Step-by-Step Resolution: 1. Identify the Problem: The gross (VAT-inclusive) price is £4,200. Standard rate VAT = 20%. 2. Apply the VAT Fraction: Net = Gross ÷ (1 + VAT rate) = £4,20
A retail store, Omega Foodstuffs plc, purchased inventories for a gross total of £1,800 inclusive of standard-rate VAT at 20%. What are the net purchase cost and the input VAT amount recoverable by Omega Foodstuffs plc?
- A.Net Cost: £1,500, VAT Recoverable: £300
- B.Net Cost: £1,800, VAT Recoverable: £360
- C.Net Cost: £1,440, VAT Recoverable: £360
- D.Net Cost: £1,500, VAT Recoverable: £0 (VAT is non-recoverable on inventories)
✓ Worked Explanation
Core Concept: Extracting VAT from a VAT-Inclusive (Gross) Price When a price is VAT-inclusive, you must use the VAT fraction to extract the tax element. You cannot simply multiply the gross price by 20% - that would over-calculate the VAT because you would be applying the rate to an amount that already contains VAT. Step-by-Step Resolution: 1. Identify the Problem: The gross (VAT-inclusive) price is £1,800. Standard rate VAT = 20%. 2. Apply the VAT Fraction: Net = Gross ÷ (1 + VAT rate) = £1,80
An entity purchased a machine on 1 January Year 1 for £75,000. The residual value of the machine is estimated to be £7,500 with an estimated useful life of 8 years. The entity uses the straight-line method of depreciation. What is the carrying value (net book value) of the machine on 31 December Year 2?
- A.£66,563
- B.£58,126
- C.£50,626
- D.£59,063
✓ Worked Explanation
Core Concept: Straight-Line Depreciation The straight-line method spreads the depreciable amount (Cost Residual Value) equally over the asset's useful life. The same charge is recognised in *every* period. After 2 complete years, two annual depreciation charges are deducted from the original cost. Step-by-Step Resolution: 1. Calculate Annual Depreciation: (Cost Residual Value) ÷ Useful Life = (£75,000 £7,500) ÷ 8 years = £8,437 per year 2. Calculate Accumulated Depreciation at 31 Dec Y
Download the PDF for all 20 questions + full mark scheme
Download PDFFrequently Asked Questions
Is this ACCA mock test free?+
Yes. All 250 Applaa ACCA mock tests are completely free — no sign-up, no payment required. Download PDF or view in browser.
Which ACCA papers do these mocks cover?+
Applaa ACCA mock tests cover F1 (Accounts Preparation) and F2 (Management Accounting) — the Applied Knowledge level papers, formerly known as BT and MA.
Do the ACCA mock papers include worked explanations?+
Yes. Every ACCA practice question on this page includes the correct answer and a worked explanation explaining why each option is right or wrong.
How many questions are in each ACCA mock test?+
Each Applaa ACCA mock test contains 20 multiple-choice questions across the F1 and F2 syllabus areas, with full worked explanations.
Download This Mock
Free PDF — 20 questions with worked answers. Print it or attempt offline.
Download PDF FreeNo sign-up · No paywall · Applaa proprietary
Paper Info
- Exam
- ACCA
- Mock number
- 11 of 250
- Questions
- 20
- Format
- Multiple Choice (MCQ)
- Sections
- 1
- Audience
- Accountancy students
- Timing
- Exams: Mar, Jun, Sep, Dec
- Copyright
- Applaa Proprietary
Sections Covered
- Financial Accounting
AI step-by-step guidance
Appy Buddy in the Applaa desktop app guides you through every question with Socratic AI tutoring — explains why each answer is right or wrong.
Download Applaa Free