ACCA 2026 FR Financial Reporting Tax Accounting Free Quiz 2

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ACCA 2026 FR Financial Reporting Tax Accounting Free Quiz 2

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ACCA 2026 FR Financial Reporting Tax Accounting Free Quiz 2

Practice ACCA 2026 FR Financial Reporting MCQs from Tax Accounting. Get instant results with Explanation.

General10 MCQs

1. What tax rate is used to measure deferred tax?

A. Deferred tax is measured at the tax rate expected to apply when the temporary difference reversesB. Deferred tax is measured at the current tax rateC. Deferred tax is measured at the rate in effect at the reporting dateD. Deferred tax is measured at a flat rate of 25%

2. How are tax losses treated in deferred tax accounting?

A. Tax losses always give rise to deferred tax assetsB. Tax losses never give rise to deferred tax assetsC. Tax losses are recognised only when usedD. Deferred tax assets for losses are recognised to the extent of probable future taxable profit

3. When can deferred tax assets and liabilities be offset?

A. Deferred tax assets and liabilities are always offsetB. Deferred tax assets and liabilities are offset if there is a right of set-off and they relate to the same authorityC. Deferred tax assets and liabilities are never offsetD. Deferred tax assets and liabilities are offset only for income tax

4. What is the tax expense in the statement of profit or loss?

A. Tax expense includes only current taxB. Tax expense includes only deferred taxC. Tax expense is the total of current and deferred taxD. Tax expense is not recognised in the financial statements

5. Where is deferred tax on OCI items recognised?

A. Deferred tax on items in OCI is recognised in OCIB. Deferred tax on items in OCI is recognised in profit or lossC. Deferred tax on items in OCI is not recognisedD. Deferred tax on items in OCI is recognised directly in equity

General10 MCQs

6. What is a tax reconciliation?

A. Tax reconciliation is not required under IFRSB. Tax reconciliation reconciles the tax expense to the tax payableC. Tax reconciliation reconciles the current tax to the deferred taxD. Tax reconciliation reconciles the expected tax expense to the actual tax expense

7. How is the tax rate for deferred tax determined?

A. The same tax rate is used for all deferred tax itemsB. The tax rate is determined based on the expected manner of recovery or settlementC. The tax rate is always the enacted rateD. The tax rate is the rate at the reporting date

8. What are the disclosure requirements under IAS 12?

A. IAS 12 requires minimal disclosureB. IAS 12 requires no disclosureC. IAS 12 requires disclosure of current tax, deferred tax, tax reconciliation, and unrecognised deferred tax assetsD. IAS 12 requires disclosure only of the tax expense amount

9. How does revaluation of assets affect deferred tax?

A. Revaluation of assets creates a deferred tax liability for the taxable temporary differenceB. Revaluation of assets does not create any deferred taxC. Revaluation of assets creates a deferred tax assetD. Revaluation of assets is not relevant for tax accounting

10. What is the recognition criterion for deferred tax assets?

A. Deferred tax assets are always recognised in fullB. Deferred tax assets are never recognisedC. Deferred tax assets are recognised for all deductible differencesD. Deferred tax assets are recognised only to the extent of probable future taxable profit

📋 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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