1. What is the purpose of a budget?

To keep track of time.
To manage income and expenses.
To measure physical fitness.
To plan for vacations.
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2. As of 2023, which international standard is replacing lease accounting under IFRS?

IAS 17
IFRS 9
IFRS 15
IFRS 16
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3. What does ROI stand for?

Rate of Interest
Return on Investment
Return of Investment
Rate of Income
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4. According to the ACCA and IMA 2023 Global Economic Conditions Survey, what percentage of accountants believe digital transformation is a top priority for finance functions?

22%
41%
61%
79%
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5. Which of the following is most likely to trigger a red flag in financial audits ?

Frequent Software Update.
Significant Variations in Revenue Recognition.
Increasing Depreciation Schedules.
High Inventory Turnover
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