The ACCA Applied Knowledge Level Papers is a professional certification assessment in United Kingdom. Thorough preparation is essential to demonstrate your knowledge and competency in this field.
Our comprehensive collection of free ACCA AK practice questions covers all exam domains and topics. Use these detailed study materials to build confidence and improve your test performance.
Important: The ACCA AK examination requires thorough understanding of all core subject areas. Review the official UK exam guidelines and ensure you meet all eligibility requirements before scheduling your test date.
Prepare for the ACCA Applied Knowledge Papers (BT/MA/FA) exam with our free practice test modules. Each quiz covers key topics to help you pass on your first try.
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Try these questions from our free ACCA Applied Knowledge practice tests. The correct answer and an explanation follow each question.
Under IAS 10 Events After the Reporting Period, which of the following is an adjusting event?
Answer: B. The settlement after the reporting date of a court case that confirms an obligation existed at the reporting date
An adjusting event provides evidence of conditions that existed at the reporting date. Settlement of a court case confirms a liability that existed at year end, so the financial statements should be adjusted. The other events are non-adjusting — they relate to conditions arising after the reporting date.
A production overhead absorption rate (OAR) is typically calculated as:
Answer: B. Budgeted overhead ÷ Budgeted activity
The OAR is set at the start of the period using budgeted figures: Budgeted overhead ÷ Budgeted activity level (e.g., machine hours or labour hours).
The fixed overhead expenditure variance compares:
Answer: B. Budgeted fixed overheads with actual fixed overheads
Fixed overhead expenditure variance = Budgeted fixed overheads – Actual fixed overheads, showing whether spending on fixed costs was more or less than planned.
Zero-based budgeting (ZBB) requires managers to:
Answer: B. Justify every item of expenditure from a zero base for each new period
ZBB starts from scratch each budget period. Every activity and its associated costs must be justified as if it were new, rather than simply rolling forward last year's figures. This helps identify and eliminate unnecessary spending.