ACCA 2026 AA Audit Assurance Going Concern Free Quiz 1

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ACCA 2026 AA Audit Assurance Going Concern Free Quiz 1

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ACCA 2026 AA Audit Assurance Going Concern Free Quiz 1

Practice ACCA 2026 AA Audit Assurance MCQs from Going Concern. Get instant results with Explanation.

General10 MCQs

1. What is the going concern assumption?

A. Going concern assumes the entity will cease operations next yearB. Going concern assumes the entity will continue to operate for the foreseeable futureC. Going concern is not relevant for financial reportingD. Going concern only applies to public companies

2. Who is responsible for the going concern assessment?

A. Management has no responsibility for going concern assessmentB. The auditor is solely responsible for the going concern assessmentC. Management is responsible for assessing going concern, and the auditor evaluates that assessmentD. Going concern assessment is not required

3. What evidence does the auditor obtain on going concern?

A. The auditor must obtain evidence on management's going concern assessmentB. The auditor does not need to obtain evidence on going concernC. The auditor only reviews the financial statements for going concernD. The auditor relies solely on management's representations for going concern

4. How does a material uncertainty about going concern affect the audit report?

A. A material uncertainty about going concern is always a basis for a qualified opinionB. A material uncertainty is not disclosed in the audit reportC. A material uncertainty is always disclosed in the management reportD. If there is a material uncertainty, the auditor considers the adequacy of disclosure and may include an emphasis of matter or modify the opinion

5. What is the auditor's role in evaluating management's plans for going concern?

A. The auditor does not consider management's plans for going concernB. The auditor evaluates management's plans to address going concern risksC. Management's plans are irrelevant to the going concern assessmentD. The auditor only considers past performance, not future plans

General10 MCQs

6. Which ISA covers going concern?

A. ISA 570 covers audit planningB. ISA 570 covers audit evidenceC. ISA 570 covers going concernD. ISA 570 covers audit sampling

7. What are some indicators of going concern problems?

A. Indicators of going concern problems include losses, defaults, legal proceedings, and loss of key customersB. Going concern indicators are only financialC. Going concern indicators are only legalD. Going concern indicators are not relevant to the audit

8. What is the auditor's responsibility regarding going concern disclosures?

A. Disclosures about going concern are optionalB. The auditor does not review going concern disclosuresC. Going concern disclosures are only required if the entity is in financial difficultyD. The auditor must assess the adequacy of going concern disclosures and modify the opinion if inadequate

9. What factors does the auditor consider in assessing going concern?

A. The auditor only considers financial factors for going concernB. The auditor considers financial, operational, and other factors that may affect going concernC. The auditor does not consider operational factorsD. The auditor only considers factors that are material

10. What is the audit opinion if the going concern assumption is inappropriate?

A. If going concern is inappropriate, the auditor issues an unmodified opinionB. If going concern is inappropriate, the auditor issues a disclaimerC. If going concern is inappropriate, the auditor modifies the opinion (adverse or qualified)D. If going concern is inappropriate, the auditor does not issue an opinion

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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