VIP Exclusive
IFA Professional Diploma Practice Examination
IFA — The Institute of Financial Accountants (IFA), based in the UK, offers the IFA Professional Diploma — a practitioner-level accounting qualification examined across papers covering Financial Accounting, Management Accounting, UK Taxation, Business Law, and Ethics; the pass mark is 50–60% per paper and the IFA is recognised by HMRC as a supervisory body under the Money Laundering Regulations.
56
Questions
120m
Time Limit
60.00%
To Pass
Question 1 of 56👑 VIP
A sole trader purchases equipment for £24,000 on 1 April 2024. The business policy is to depreciate equipment at 25% per annum using the reducing balance method. The financial year ends 31 March. What is the carrying amount of the equipment in the Statement of Financial Position at 31 March 2026?
Questions 2–56 and full explanations are VIP-exclusive.