ACCA SBR Practice Questions - ACCA Strategic Business Reporting Exam - ACCA SBR Practice Questions

Question 1

Under the IESBA / ACCA Code of Ethics, which threat to compliance with the fundamental principles arises when an accountant prepares financial statements and then is asked to audit those same statements?

Self-review threat Intimidation threat Advocacy threat Familiarity threat

Correct Answer:

Self-review threat

Question 2

A finance director pressures the reporting accountant to recognise revenue early to meet a profit forecast tied to a bonus. Which TWO fundamental principles of the ACCA Code are most directly threatened?

Integrity and professional behaviour only Integrity and objectivity Confidentiality and professional competence Professional competence and confidentiality

Correct Answer:

Integrity and objectivity

Question 3

In SBR Section A, ethics questions typically award marks for both technical analysis and professional skills. What is the most appropriate first step when responding to an ethical scenario?

Immediately resign from the engagement Report the entity to the financial reporting regulator without further analysis Identify the specific threats and the fundamental principles affected, then evaluate their significance Restate the prior-year financial statements

Correct Answer:

Identify the specific threats and the fundamental principles affected, then evaluate their significance

Question 4

An accountant accepts an unusually large, contingent fee structured to increase if reported profit exceeds a target. Which threat is created and why is it problematic?

No threat arises because contingent fees are always permitted Familiarity threat, because the relationship is long-standing Advocacy threat, because the accountant defends the entity in court Self-interest threat, because the fee creates a financial incentive to bias the figures

Correct Answer:

Self-interest threat, because the fee creates a financial incentive to bias the figures

Question 5

The IASB's Conceptual Framework for Financial Reporting identifies two fundamental qualitative characteristics of useful financial information. They are:

Relevance and faithful representation Comparability and verifiability Timeliness and understandability Prudence and materiality

Correct Answer:

Relevance and faithful representation

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About this Exam

Prepare with the ACCA SBR Practice Questions - ACCA Strategic Business Reporting Exam practice quiz. This question bank includes 100 questions covering ifrs, financial, assets, fair, and value. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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ACCA SBR Practice Questions - ACCA Strategic Business Reporting Exam

This practice set contains 100 questions from the matching question bank and focuses on ifrs, financial, assets, fair, and value. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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ACCA SBR Practice Questions - ACCA Strategic Business Reporting Exam

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