Accounting Multiple Choice Question – 11 April 2026

Which ONE of the following is likely to be kept on a PERMANENT audit file?

Select ONE answer:

1. Planning memorandum
2. Review notes
3. The previous year’s signed financial statements
4. Current year’s draft financial statements

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 other options will be kept on the CURRENT year audit file
4. Not correct

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