Free ACCA Mock Test 3 — 20 Questions + Full Answers
Association of Chartered Certified Accountants · Accountancy students · Exams: Mar, Jun, Sep, Dec
Sections: K1 Financial Accounting · Financial Accounting · Applaa proprietary paper — free to download and print
No sign-up required · 100% free · Applaa proprietary content
Applaa ACCA Mock Test 3
applaa-acca-mock-3.pdf · 20 questions
Applaa proprietary content · Free to download and print · No sign-up required
Save PDFSample Questions — ACCA Mock 3
8 of 20 shownCorrect answers highlighted in green. Full explanations included.
© ACCA 2027 -2028 All rights reserved. Question 6 Abstract Co's general ledger accounts are to be finalised at the period end. Which TWO of the following statements illustrate how to finalise Abstract Co's general ledger accounts at the period end?
- A.Operating profit margin
- B.Return on capital employed
- C.Current ratio
- D.Interest cover FINAL - March 2026 Financial Accounting (K1)
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 10 Zinc Co depreciates its non -current assets monthly, using the straight -line method. Its non-current assets have a 20 -year useful life and their carrying amount at 1 January 20X3 was $35m (cost of $50m and accumulated depreciation of $15m). All non-current assets are in use and none are fully depreciated. There were no disposals during the year ended 31 December 20X3. A new non -current asset was purchased for $5m on 1 July 20X3. What is the depreciation charge for the year ended 31 December 20X3?
- A.A decrease in the allowance for irrecoverable debts
- B.An increase in the allowance for irrecoverable debts
- C.The subsequent receipt of cash on a debt previously written off
- D.The write off of an irrecoverable debt FINAL - March 2026 Financial Accounting (K1)
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 13 Walnut Co recorded a cash payment to a credit supplier by crediting cash and cash equivalents by the correct amount of $3,600 but by debiting trade payables by the incorrect amount of $6,300. A suspense account was automatically created. Which of the following is the correcting journal entry required to eliminate the suspense account from the trial balance?
- A.Dr Bank $300,000 Cr Share capital $100,000 Cr Share premium $200,000
- B.Dr Bank $300,000 Cr Share capital $200,000 Cr Share premium $100,000
- C.Dr Retained earnings $300,000 Cr Share capital $300,000
- D.Dr Bank $200,000 Dr Share premium $100,000 Cr Share capital $300,000 FINAL - March 2026 Financial Accounting (K1)
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 15 Which of the following parties is ultimately responsible for the preparation of a reporting entity's financial statements?
- A.1 and 2 only
- B.1 only
- C.2 and 3 only
- D.1,2 and 3 Question 17 The International Accounting Standards Board's Conceptual Framework for Financial Reporting (Conceptual Framework) includes both fundamental and enhancing qualitative characteristics of useful financial information. Select whether each of the following are fundamental or enhancing qualitative characteristics of useful financial information, in accordance with the Conceptual Framework. Fundamental Enhancing
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 18 Notus Co's bank reconciliation statement as at 31 January 20X8 has been drafted but not finalised. The following information is available: (1) The bank statement shows a debit balance of $30m at 31 January 20X8 (2) $20m of deposits on 28 January 20X8 have not yet cleared the bank (3) Interest expenses of $2m were omitted from the general ledger (4) The bank deducted a $3m payment in error and has not yet corrected for this What is the reconciled bank balance to be presented on Notus Co's statement of financial position as at 31 January 20X8?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2 FINAL - March 2026 Financial Accounting (K1)
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 23 Apricot Co has incomplete records regarding inventories, measured using weighted average cost, at 31 January 20X3. The following information is available: (1) Inventories at 1 February 20X2 had a carrying amount of $2m (2) Purchases of inventories for the year ended 31 January 20X3 were $7m (3) Sales of inventories for the year ended 31 January 20X3 were $4m (4) The average gross profit margin for the year ended 31 January 20X3 was 25% Calculate the carrying amount of Apricot Co's inventories at 31 January 20X3 (to the nearest $m). $ m Question 24 Spruce Co made a cash purchase of furniture and fittings from Argon Co for $50,000. Which of the following is the journal entry that Spruce Co must process to recognise t
- A.An issue of bonus shares
- B.An issue of loan notes
- C.Cash repayment of borrowings
- D.Cash settlement of trade payables FINAL - March 2026 Financial Accounting (K1)
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 26 Aloe Co is conducting an internal review of its non -current asset register and some capitalised costs have been queried by management. Which TWO of the following are costs which are required to be capitalised as part of a non-current asset's carrying amount?
- A.Advertising costs for the opening of a new facility
- B.Installation of a new boiler in an entity's head office property
- C.Annual service of motor vehicles fleet
- D.Safety guards on machinery Question 27 Drum Co issued an invoice for a total price of $8m on 1 December 20X1, covering services it will provide for the four months ended 31 March 20X2. Which of the following is the appropriate journal entry to record the necessary adjustment to Drum Co's financial statements for the year ended 31 December
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
© ACCA 2027 -2028 All rights reserved. Question 28 Pixie Co has sent statements to each of its customers to confirm their balances at 31 August 20X5. Which of the following statements will NOT create a difference between the trade receivables general ledger account and the customer's own financial records?
- A.Dr Trade receivables $1,200,000 Cr Revenue $1,000,000 Cr Sales tax account $200,000
- B.Dr Trade receivables $1,440,000 Cr Revenue $1,200,000 Cr Sales tax account $240,000
- C.Dr Purchases $1,000,000 Dr Sales tax account $200,000 Cr Trade payables $1,200,000
- D.Dr Purchases $1,200,000 Dr Sales tax account $240,000 Cr Trade payables $1,440,000 FINAL - March 2026 Financial Accounting (K1)
✓ Worked Explanation
Official ACCA specimen exam question. Refer to ACCA Study Hub for full answers.
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
- 3 of 250
- Questions
- 20
- Format
- Multiple Choice (MCQ)
- Sections
- 2
- Audience
- Accountancy students
- Timing
- Exams: Mar, Jun, Sep, Dec
- Copyright
- Applaa Proprietary
Sections Covered
- K1 Financial Accounting
- 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