ITAA Toelatingsexamen Practice Questions - ITAA Admission Exam (Toelatingsexamen Examen d'admission) - certified accountant or certified tax advisor stage, Belgium Exam - ITAA Toelatingsexamen Practice Questions - ITAA Admission Exam (Toelatingsexamen Examen d'admission) - certified accountant or certified tax advisor stage, Belgium Exam

Question 1

Under Belgian double-entry bookkeeping (dubbel boekhouden), which statement is always true of a balanced journal entry?

VAT payable is recorded only on the debit side Equity accounts may be credited only at year-end The sum of debit amounts equals the sum of credit amounts Every debit must be posted to a class 6 cost account

Correct Answer:

The sum of debit amounts equals the sum of credit amounts

Question 2

In the Belgian Minimum Chart of Accounts (MAR / minimumindeling van het algemeen rekeningenstelsel), trade receivables from customers are recorded in which class?

Class 2 — financial fixed assets only Class 6 — operating expenses Class 4 — receivables and payables of at most one year (account 400 Clients) Class 7 — operating income

Correct Answer:

Class 4 — receivables and payables of at most one year (account 400 Clients)

Question 3

A Belgian VAT-registered trader issues a domestic invoice with 21% output VAT. Which MAR pairing is the standard posting of that output VAT?

Credit 550 bank for the VAT amount only Debit 411 VAT recoverable; credit 700 turnover Credit 451 VAT payable; the net sale is credited to a class 7 income account Debit 451 VAT payable; credit 411 VAT recoverable

Correct Answer:

Credit 451 VAT payable; the net sale is credited to a class 7 income account

Question 4

On 1 January a Belgian company buys a machine for EUR 50,000. Residual value is EUR 5,000 and the useful life is 5 years. Straight-line depreciation (lineaire afschrijving) is used. What is the annual depreciation charge?

EUR 45,000 EUR 10,000 EUR 9,000 EUR 5,000

Correct Answer:

EUR 9,000

Question 5

Closing inventory of goods for resale is understated. What is the effect on the current year's Belgian statutory result?

Assets are overstated and equity is unchanged Only the cash-flow statement is affected Profit is understated because cost of sales is overstated Profit is overstated because turnover is overstated

Correct Answer:

Profit is understated because cost of sales is overstated

Question 1

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Prepare with the ITAA Toelatingsexamen Practice Questions - ITAA Admission Exam (Toelatingsexamen Examen d'admission) - certified accountant or certified tax advisor stage, Belgium Exam practice quiz. This question bank includes 100 questions covering belgian, statutory, accounts, company, and profit. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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ITAA Toelatingsexamen Practice Questions - ITAA Admission Exam (Toelatingsexamen Examen d'admission) - certified accountant or certified tax advisor stage, Belgium Exam

This practice set contains 100 questions from the matching question bank and focuses on belgian, statutory, accounts, company, and profit. 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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ITAA Toelatingsexamen Practice Questions - ITAA Admission Exam (Toelatingsexamen Examen d'admission) - certified accountant or certified tax advisor stage, Belgium Exam

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