Day: April 13, 2026

Accounting Multiple Choice Question – 13 April 2026

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

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Which ONE of the following statements is correct?

Select ONE answer:

  1. Working papers belong to the assurance provider
  2. Working papers should be kept for the current and previous year only
  3. Working papers can be made available to any third party without needing any client permission
  4. Working papers should be made available to any third party at the slightest request of the client

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 – Option 2 is incorrect as ICAEW requires all firms should keep all audit working papers for at least six years from the end of the accounting period to which they relate, so more than the current and previous year will be kept. Option 4 is incorrect as working papers belong to the assurance provider, so this decision does not belong to the client.
  2. Not correct
  3. Not correct
  4. Not correct

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