Month: March 2025

Accounting Multiple Choice Question – 26 March 2025

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Part A of the ICAEW Code of Ethics establishes the fundamental principles of professional ethics for professional accountants and provides a conceptual framework for applying those principles.

Which ONE of the following are stated as fundamental principles in the ICAEW Code of Ethics?

Select ONE answer:

  1. Independence
  2. Objectivity
  3. Persuasiveness
  4. Reliability

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct == > The fundamental principles established by the ICAEW Code of Ethics are integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.
  3. Not correct
  4. Not correct

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Accounting Multiple Choice Question – 25 March 2025

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Part A of the ICAEW Code of Ethics establishes the fundamental principles of professional ethics for professional accountants and provides a conceptual framework for applying those principles.

Which ONE of the following are stated as fundamental principles in the ICAEW Code of Ethics?

Select ONE answer:

  1. Independence
  2. Persuasiveness
  3. Confidentiality
  4. Reliability

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct == > The fundamental principles established by the ICAEW Code of Ethics are integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Accounting Multiple Choice Question – 24 March 2025

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Photo by Nataliya Vaitkevich on Pexels.com

Part A of the ICAEW Code of Ethics establishes the fundamental principles of professional ethics for professional accountants and provides a conceptual framework for applying those principles.

Which ONE of the following are stated as fundamental principles in the ICAEW Code of Ethics?

Select ONE answer:

  1. Independence
  2. Persuasiveness
  3. Reliability
  4. Integrity

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct == > The fundamental principles established by the ICAEW Code of Ethics are integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Accounting Multiple Choice Question – 23 March 2025

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

apple devices books business coffee
Photo by Serpstat on Pexels.com

Staffie plc employs directors of finance, human resources and legal services, as well as a company secretary.

The company is having operational problems which are delaying its completion of a key industrial project.

If the project misses its deadline Staffie plc may suffer heavy penalties under the terms of its sales contract with the ultimate end customer.

Part of the delay has been caused by strikes due to bad industrial relations with both Staffie’s own employees and the sub-contractors, but Staffie plc is unsure whether the penalties included in the contract will come into effect given this primary reason.

Identifying whether the penalties are likely to come into effect is the role of Staffie plc’s?

Select ONE answer:

  1. Director of finance
  2. Director of human resources
  3. Director of legal services
  4. Company secretary

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct == > Enforcement of contracts is clearly a legal matter requiring the attention of the company’s director of legal services.
  4. Not correct

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Accounting Multiple Choice Question – 22 March 2025

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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In relation to the external audit or statutory audit of a limited company in the UK, a colleague has made three statements below.

Statement 1 To act as statutory auditor, the person appointed must be a member of a recognised supervisory body.

Statement 2 To act as statutory auditor, the person appointed must be either a body corporate or a partnership.

Statement 3 To act as statutory auditor, the person appointed must hold a recognised qualification obtained in the UK.

Identify whether the statements are true or false?

Select ONE answer:

  1. Statement 1. True and Statement 2. False and Statement 3. False
  2. Statement 1. False and Statement 2. True and Statement 3. False
  3. Statement 1. True and Statement 2. False and Statement 3. True
  4. Statement 1. False and Statement 2. True and Statement 3. True

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

  1. Correct == > True False False – Sole practitioners can be appointed as statutory auditors and certain overseas qualifications may be recognised.
  2. Not correct
  3. Not correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.