Accounting Question Bank

About this question bank

A comprehensive multiple-choice practice library covering every chapter of the ICAB Certificate-Level Accounting syllabus. Drill the bookkeeping, double-entry, adjustments, depreciation, reconciliation and final-accounts concepts that appear most often in ICAB exam papers. No timer, instant explanations, unlimited retries.

What you'll practise

Chapters

1. Chapter 1: Introduction to accounting

   Purpose of accounting, users of accounts, the IASB Conceptual Framework, qualitative characteristics, and the regulatory environment.
   283 Q
2. Chapter 2: The accounting equation

   Assets = Capital + Liabilities; the business entity concept; effect of transactions on the equation; capital, drawings and profit.
   269 Q
3. Chapter 3: Recording financial transactions

   Source documents, books of prime entry, day books, the cash book, sales tax/VAT and the receivables/payables ledgers.
   267 Q
4. Chapter 4: Ledger accounting and double entry

   Debits and credits, T-accounts, posting and balancing, and the trial balance.
   178 Q
5. Chapter 5: Preparing basic financial statements

   From trial balance to the statement of profit or loss and statement of financial position for a sole trader.
   176 Q
6. Chapter 6: Control accounts, errors and suspense accounts

   Receivables and payables control accounts, types of error, the journal, suspense accounts, bank and control account reconciliations.
   501 Q
7. Chapter 7: Cost of sales, accruals and prepayments

   Cost of sales, opening/closing inventory, the accruals basis, accrued and prepaid expenses, and accrued and deferred income.
   290 Q
8. Chapter 8: Irrecoverable debts and allowances

   Writing off irrecoverable debts, recoveries, the allowance for receivables, and IFRS 9 expected credit losses.
   284 Q
9. Chapter 9: Inventories

   IAS 2 measurement at the lower of cost and net realisable value, FIFO and AVCO cost formulas, and inventory counts.
   173 Q
10. Chapter 10: Non-current assets and depreciation

    Capital vs revenue expenditure, IAS 16 cost, straight-line and reducing-balance depreciation, disposals and the asset register.
    283 Q
11. Chapter 11: Limited company financial statements

    Share capital, share premium, reserves, dividends, taxation and the format of company financial statements under IFRS.
    359 Q
12. Chapter 12: Statement of cash flows

    Operating, investing and financing activities; the indirect method; IAS 7 classification and presentation.
    283 Q
13. Chapter 13: Sole trader and partnership financial statements under GAAP

    Incomplete records, mark-up and margin, partnership appropriation, capital and current accounts.
    282 Q
14. Chapter 14: Scenario Based Questions

    ICAB Section-A style scenario questions — statements of cash flows (IAS 7), final accounts and other full-statement computations graded line-by-line.
    3 Q