F7 (FR) – Chapter 23 – PART C – CBE MCQs – ACCA

These are ACCA F7 (FR) Financial Reporting MCQs for Part-C of the Syllabus “Analysing and interpreting the financial statements of single entities and groups”.

These multiple-choice questions (MCQs) are designed to help ACCA F7 students to better understand the exam format. We aim to instill in students the habit of practicing online for their CBE exams. By doing so, students can reduce exam stress and prepare more effectively.

Please note:

  • Students should not attempt these MCQs until they have finished the entire chapter.
  • All questions are compulsory, so please do not skip any.

We hope that these MCQs will be a valuable resource for students preparing for the ACCA F7 (FR) exam.

INFORMATION ABOUT THESE CBE MCQs Test/Quiz

Course:ACCA – Association of Chartered Certified Accountants
Fundamental Level:Applied Skills
Subject:Financial Reporting
Paper:F7 – FR
Chapter and Topic23 – Specialised, not-for-profit and public sector entities
Syllabus Area:C – “Analysing and interpreting the financial statements of single entities and groups”
Questions Type:CBE MCQs
Exam Section:Section A

Syllabus Area

These Multiple Choice Questions (MCQs) cover the Syllabus Area Part-C of the Syllabus; “Analysing and interpreting the financial statements of single entities and groups” of ACCA F7 (FR) Financial Reporting Module.

Time

These MCQs are not time-bound. Take your time and solve them without stress. Pay proper attention and focus. Do not rush or hesitate

Result

Students will get their F7 CBE MCQs Test results after they finish the entire test. They will also be able to see the correct and incorrect answers, as well as explanations for the incorrect questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all those answers which seem correct/ or incorrect to you, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)“.
Drop-down: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.

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F7 (FR) - Chapter 23 - Part C - MCQs - Specialised, not-for-profit and public sector entities

Course: ACCA - Association of Chartered Certified Accountants
Subject: F7 (FR) - Financial Reporting
Syllabus Area: C - Analysing and interpreting the financial statements of single entities and groups
Chapter: 23 - Specialised, not-for-profit and public sector entities
Exam Section: Section A
Questions type: MCQs
Time: No Time Limit

INSTRUCTIONS

  1. If you are using mobile, turn on the mobile rotation and solve the MCQs on wide screen for better experience.

REQUEST

  1. Please rate the quiz and give us feedback once you completed the quiz.
  2. Share with ACCA students on social media such as, Facebook Groups, Whatsapp, Telegram, etc.

1 / 8

Which of the following is the main aspect in which public sector bodies differ from charities?

2 / 8

Which of the following is NOT true of entities in the charity sector?

3 / 8

Which of the following are unlikely to be stakeholders in a charity?

4 / 8

Which TWO of the following statements about a not-for-profit entity are valid?

5 / 8

Although the objectives and purposes of not-for-profit entities are different from those of commercial entities, the accounting requirements of not-for-profit entities are moving closer to those entities to which IFRSs apply.

Which of the following IFRS requirements would NOT be relevant to a not-for-profit entity?

6 / 8

Which of the following are unlikely to be stakeholders in a charity?

7 / 8

Public sector entities have performance measures laid down by government, based on Key Performance Indicators.

Which THREE of the following are likely to be financial KPIs for a local council?

8 / 8

The International Public Sector Accounting Standards Board regulates public sector entities and is developing a set of accounting standards which closely mirror IFRS.

Which of these is the main concept which needs to be introduced into public sector accounting?

Your score is

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