How many papers are in the ACCA qualification?

The current ACCA qualification has 13 papers: 3 Applied Knowledge (BT, MA, FA), 6 Applied Skills (LW, PM, TX, FR, AA, FM), and 4 Strategic Professional papers — 2 compulsory (SBL, SBR) plus 2 of 4 options (AFM, APM, ATX, AAA). A redesigned qualification with approximately 11 papers takes effect from September 2027.

What is the pass mark for ACCA exams?

The pass mark is 50% for all ACCA papers across all three levels — Applied Knowledge, Applied Skills, and Strategic Professional.

How often are ACCA exams held?

Applied Knowledge papers are available on-demand as computer-based exams (CBE) at approved centres. Applied Skills and Strategic Professional papers are held in four sessions per year: March, June, September, and December.

Which ACCA papers have the lowest pass rates?

The Strategic Professional optional papers are the hardest: APM (40%), AAA (42%), and AFM (44%) had the lowest pass rates in March 2026. Among Applied Skills, PM (45%) and AA (43%) are the most challenging.

How long does it take to complete the ACCA qualification?

On average, candidates take 3–4 years to complete ACCA while working. The minimum is around 2 years if studying intensively. There is no time limit on completing the qualification, but exemptions and exam attempts are subject to ACCA's regulations.

ACCA FA — Financial Accounting Practice Exam 2 — Free 65-Question ACCA Practice Test

Q01BioGenix Ltd, a biotech startup, is deciding whether to disclose a highly uncertain contingent liability regarding a ...Easy

Q02Which of the following bodies is primarily responsible for issuing International Financial Reporting Standards (IFRS)?Easy

Q03Which of the following are the primary responsibilities of the directors of a limited liability company? (Select all ...Medium

Q04Titanium Forge Co, a heavy manufacturing firm, recently incurred the following costs: 1. $50,000 for a major overhaul...Medium

Q05A company makes a 1 for 4 bonus issue of shares. The nominal value of the shares is $1. The company wishes to utilize...Medium

Q06A business sells goods for $1,740, which is inclusive of sales tax at 20%. What is the net sales revenue amount that ...Medium

Q07Global Wholesale Distributors offers a 10% trade discount for bulk orders and a 5% settlement discount if payment is ...Hard

Q08A company operates a petty cash imprest system with a float of $300. At the end of the month, the petty cash box cont...Medium

Q09According to IAS 2 Inventories, how should inventory be valued?Easy

Q10During a period of consistently rising prices (inflation), which inventory valuation method will result in the highes...Medium

Q11A company purchases a machine on 1 April 20X1 for $60,000. It has an estimated useful life of 5 years and a residual ...Medium

Q12A property was purchased for $200,000 and has accumulated depreciation of $40,000. The company decides to revalue the...Hard

Q13Under IAS 38 Intangible Assets, which of the following criteria MUST be met for development costs to be capitalized? ...Medium

Q14A company pays its annual rent of $24,000 in arrears on 31 March each year. The company's financial year end is 31 De...Medium

Q15A company pays an annual insurance premium of $12,000 on 1 September 20X2 for the year ending 31 August 20X3. The com...Easy

Q16At the start of the year, the allowance for receivables was $5,000. During the year, an irrecoverable debt of $2,000 ...Hard

Q17Under IAS 37 Provisions, Contingent Liabilities and Contingent Assets, which of the following conditions is NOT requi...Easy

Q18A company is being sued for $500,000. The company's lawyers advise that it is possible (a 30% chance) that the compan...Medium

Q19A company's cash book shows a debit balance of $4,500. The bank statement shows a credit balance of $5,200. The diffe...Medium

Q20A supplier sends a statement showing a balance due of $3,400. Your payables ledger account for this supplier shows a ...Medium

Q21A trial balance fails to agree. The debit column totals $150,000 and the credit column totals $152,000. A suspense ac...Hard

Q22Which of the following describes an 'error of principle'?Easy

Q23A company's draft profit is $50,000. It is discovered that closing inventory was overstated by $5,000, and a deprecia...Medium

Q24A business has incomplete records. Sales for the year were $120,000. The business operates with a uniform gross profi...Hard

Q25A shopkeeper suspects cash has been stolen from the till. Opening cash balance was $200. Cash sales banked during the...Medium

Q26When preparing a statement of cash flows using the indirect method, how should an increase in trade receivables and a...Medium

Q27A company's Property, Plant and Equipment (PPE) had a carrying amount of $500,000 at the start of the year and $620,0...Hard

Q28Which of the following can the Share Premium account legally be used for?Easy

Q29A company declares a final dividend of 5 cents per share on 15 January 20X6. The company's year-end was 31 December 2...Medium

Q30A sole trader takes goods from inventory for personal use. The goods cost $400 and have a selling price of $600. What...Medium

Q31Which of the following are considered 'adjusting events' under IAS 10 Events after the Reporting Period? (Select all ...Medium

Q32Under IFRS 10 Consolidated Financial Statements, which of the following is the primary criterion for determining whet...Easy

Q33How is an investment in an associate accounted for in the consolidated financial statements?Easy

Q34A company has an Operating Profit (Profit before interest and tax) of $150,000. Its Total Assets are $1,200,000 and C...Medium

Q35Which of the following would cause a company's gearing ratio (Debt / Equity) to increase?Medium

Q36Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q37Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q38Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q39Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q40Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q41Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q42Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q43Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q44Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q45Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q46Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Hard

Q47Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q48Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Medium

Q49Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q50Scenario: TechNova PLC acquired 80% of CyberNetix Ltd on 1 Jan 20X5 for $500,000 cash. At acquisition, CyberNetix's r...Easy

Q51Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q52Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Easy

Q53Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Easy

Q54Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q55Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Easy

Q56Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Easy

Q57Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Easy

Q58Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q59Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q60Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q61Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q62Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Easy

Q63Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q64Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

Q65Scenario: AgriGrow Co trial balance at 30 Sept 20X6: Revenue $2,500,000; Purchases $1,400,000; Opening Inventory $300...Medium

ACCA FA — Financial Accounting Practice Exam 2

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