ICPAU ATD Practice Questions - ICPAU Accounting Technicians Diploma ATD Exam - ICPAU ATD Practice Questions - ICPAU Accounting Technicians Diploma ATD Exam

Question 1

Which of the following accounting concepts requires that business transactions are recorded separately from the personal transactions of the business owners?

The business entity concept The going concern concept The money measurement concept The duality concept

Correct Answer:

The business entity concept

Question 2

A business purchased a computer for UGX 2,500,000 on credit. What is the correct double entry for this transaction?

Debit Office Equipment UGX 2,500,000, Credit Accounts Payable UGX 2,500,000 Debit Purchases UGX 2,500,000, Credit Accounts Payable UGX 2,500,000 Debit Cash UGX 2,500,000, Credit Office Equipment UGX 2,500,000 Debit Accounts Payable UGX 2,500,000, Credit Office Equipment UGX 2,500,000

Correct Answer:

Debit Office Equipment UGX 2,500,000, Credit Accounts Payable UGX 2,500,000

Question 3

A business receives a bank statement showing a balance of UGX 1,800,000. However, the cash book shows a different balance. Upon investigation, it is found that unpresented checks total UGX 450,000 and uncredited deposits total UGX 300,000. What is the corrected balance to be shown on the bank reconciliation statement starting from the bank statement balance?

UGX 1,650,000 UGX 1,950,000 UGX 2,550,000 UGX 1,050,000

Correct Answer:

UGX 1,650,000

Question 4

Which of the following errors is an error of commission?

A payment of UGX 120,000 to supplier A. Mukasa is debited to supplier J. Mukasa's account. A purchase of a machine for UGX 5,000,000 is debited to the Repairs and Maintenance account. A transaction for UGX 400,000 is completely omitted from the books of accounts. A cash sale of UGX 150,000 is recorded as a debit of UGX 15,000 in Cash and credit of UGX 15,000 in Sales.

Correct Answer:

A payment of UGX 120,000 to supplier A. Mukasa is debited to supplier J. Mukasa's account.

Question 5

A business purchased a delivery van for UGX 40,000,000. It is estimated to have a useful life of 5 years and a residual value of UGX 5,000,000. The business uses the reducing balance method of depreciation at a rate of 25% per annum. What is the depreciation charge for the second year?

UGX 7,500,000 UGX 10,000,000 UGX 7,000,000 UGX 5,625,000

Correct Answer:

UGX 7,500,000

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About this Exam

Prepare with the ICPAU ATD Practice Questions - ICPAU Accounting Technicians Diploma ATD Exam practice quiz. This question bank includes 100 questions covering year, business, cost, balance, and company. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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ICPAU ATD Practice Questions - ICPAU Accounting Technicians Diploma ATD Exam

This practice set contains 100 questions from the matching question bank and focuses on year, business, cost, balance, and company. 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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ICPAU ATD Practice Questions - ICPAU Accounting Technicians Diploma ATD Exam

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