Day: April 6, 2025

Accounting Multiple Choice Question – 6 April 2025

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

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Bob runs his own engineering company.

He is currently experiencing financial difficulties and some of his credit suppliers are threatening to take him to court.

Bob needs some advice and has seen an advertisement in his local paper for an accountancy service that is much cheaper than he expected.

Bob calls the accountant Kevin to check that it is not a misprint and is surprised at some of the answers he is given to his questions by Kevin.

Kevin made the following statements to Bob:

  • Statement 1 Anyone is free to advertise as an ‘accountant’ and offer the full range of accountancy services, with no exceptions.
  • Statement 2 ICAEW members are open to competition from anyone, whether professionally qualified or not, who chooses to enter the market.
  • Statement 3 There is no legal requirement for an accountant to be a paid-up member of one of the CCAB bodies.

Which of the statements are TRUE?

Select ONE answer:

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1,2 and 3

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 == > No Yes Yes
  3. Not correct
  4. Not correct

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