ACCA 2026 FR Financial Reporting Tax Accounting Free Quiz 1

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ACCA 2026 FR Financial Reporting Tax Accounting Free Quiz 1

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ACCA 2026 FR Financial Reporting Tax Accounting Free Quiz 1

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

General10 MCQs

1. What is current tax?

A. Current tax is the same as deferred taxB. Current tax is the tax payable for the current period based on taxable profitC. Current tax is only a provision for future taxD. Current tax is not recognised in the financial statements

2. What is deferred tax?

A. Deferred tax is the tax payable for the current yearB. Deferred tax is the tax on capital gainsC. Deferred tax arises from temporary differences between accounting and tax basesD. Deferred tax is not recognised in financial statements

3. What is a taxable temporary difference?

A. A taxable temporary difference results in future taxable amountsB. A taxable temporary difference results in future deductible amountsC. A taxable temporary difference is the same as a deductible temporary differenceD. A taxable temporary difference is not recognised

4. What is a deductible temporary difference?

A. A deductible temporary difference results in future taxable amountsB. A deductible temporary difference results in a deferred tax liabilityC. A deductible temporary difference is not recognisedD. A deductible temporary difference results in future deductible amounts and a deferred tax asset

5. When are deferred tax assets recognised?

A. Deferred tax assets are always recognisedB. Deferred tax assets are recognised only to the extent of probable future taxable profitC. Deferred tax assets are never recognisedD. Deferred tax assets are recognised only for losses

General10 MCQs

6. When are deferred tax liabilities recognised?

A. Deferred tax liabilities are always recognised without exceptionB. Deferred tax liabilities are never recognisedC. Deferred tax liabilities are recognised for all taxable temporary differences, with limited exceptionsD. Deferred tax liabilities are recognised only for assets

7. What is the tax base of an asset?

A. The tax base of an asset is the amount deductible for tax purposes on recoveryB. The tax base of an asset is its carrying amountC. The tax base of an asset is its fair valueD. The tax base of an asset is its cost

8. How are deferred tax amounts measured?

A. Deferred tax is measured at current tax rates onlyB. Deferred tax is measured at historical ratesC. Deferred tax is measured at the average rateD. Deferred tax is measured at rates expected to apply when the temporary difference reverses, based on enacted rates

9. What are temporary differences?

A. Temporary differences are the same as permanent differencesB. Temporary differences arise from differences between carrying amount and tax baseC. Temporary differences are not recognised in tax accountingD. Temporary differences only arise for assets

10. What are permanent differences in tax accounting?

A. Permanent differences give rise to deferred taxB. Permanent differences are temporary differencesC. Permanent differences do not give rise to deferred taxD. Permanent differences are always taxable

📋 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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