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2026 Statistics
Key Facts: QCAA Accounting Exam
100 Questions
Total Practice Questions
OpenExamPrep Question Bank
Units 3 & 4
Syllabus Scope
QCAA Accounting Senior Syllabus 2026
5 Main Topics
Core Content Domains
QCAA Curriculum Framework
Prepare for Queensland Senior Accounting Units 3 & 4 with 100 high-yield exam-style questions covering asset disposals, cash flow statements, budgeting variances, accounting ratios, and corporate equity transactions.
Sample QCAA Accounting Practice Questions
Try these sample questions to test your QCAA Accounting exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which of the following expenditures incurred by a business should be classified as capital expenditure rather than revenue expenditure?
A.Cost of purchasing and installing a new industrial assembly line machine
B.Annual insurance premium paid for delivery trucks
C.Routine oil change and engine service for delivery vehicles
D.Quarterly electricity bill for the manufacturing workshop
Explanation: Capital expenditure includes costs incurred to acquire, deliver, and install non-current assets to prepare them for their intended operational use. The purchase and installation of machinery creates long-term future economic benefits.
2Apex Ltd purchased a manufacturing machine for $120,000 cash. Additional costs incurred were: freight charges $4,000, installation costs $6,000, initial testing costs $2,000, annual maintenance contract $3,000, and fire insurance for the first year $1,500. What is the initial cost of the machine recorded in the non-current asset ledger?
A.$120,000
B.$130,000
C.$133,000
D.$136,500
Explanation: Initial asset cost includes purchase price plus all directly attributable costs necessary to bring the asset to the location and condition for its intended operation ($120,000 + $4,000 freight + $6,000 installation + $2,000 testing = $130,000). The maintenance contract ($3,000) and insurance ($1,500) are operating revenue expenditures.
3Brisbane Enterprises purchased equipment for $50,000 on 1 July 2024. The equipment has an estimated useful life of 5 years and an estimated residual value of $5,000. Using the straight-line method, what is the annual depreciation expense?
A.$10,000
B.$11,000
C.$9,000
D.$45,000
Explanation: Straight-line annual depreciation = (Cost - Residual Value) / Useful Life = ($50,000 - $5,000) / 5 years = $45,000 / 5 = $9,000 per annum.
4Coastal Logistics acquired a delivery van for $40,000 on 1 July 2024. The business uses the diminishing balance method of depreciation at a rate of 20% per annum. What is the depreciation expense for the second year ending 30 June 2026?
A.$8,000
B.$14,400
C.$32,000
D.$6,400
Explanation: Year 1 (ending 30 June 2025) depreciation = $40,000 x 20% = $8,000. Carrying amount at start of Year 2 = $40,000 - $8,000 = $32,000. Year 2 (ending 30 June 2026) depreciation = $32,000 x 20% = $6,400.
5Darling Downs Printing bought a commercial printing press for $180,000 with a residual value of $20,000. The press is expected to print 800,000 pages during its operational life. If the machine prints 120,000 pages during the financial year, what is the depreciation charge using the units of use method?
A.$24,000
B.$20,000
C.$27,000
D.$160,000
Explanation: Depreciation rate per page = (Cost - Residual Value) / Total Estimated Pages = ($180,000 - $20,000) / 800,000 = $160,000 / 800,000 = $0.20 per page. Depreciation for the year = 120,000 pages x $0.20 = $24,000.
6Gold Coast Services purchased a computer server for $24,000 on 1 January 2025. The business financial year ends on 30 June. Straight-line depreciation is applied at 25% per annum. What is the depreciation expense recorded for the financial year ended 30 June 2025?
A.$6,000
B.$3,000
C.$12,000
D.$18,000
Explanation: Full annual depreciation = $24,000 x 25% = $6,000 per annum. For the period 1 January 2025 to 30 June 2025 (6 months): $6,000 x (6/12) = $3,000.
7Mackay Earthmoving bought heavy machinery for $200,000 on 1 July 2022. It depreciates the machinery at 25% per annum using the diminishing balance method. What is the carrying amount of the machinery on 30 June 2025 (after 3 years of depreciation)?
A.$50,000
B.$112,500
C.$84,375
D.$115,625
Explanation: Year 1 dep = $200,000 x 25% = $50,000; CA end Y1 = $150,000. Year 2 dep = $150,000 x 25% = $37,500; CA end Y2 = $112,500. Year 3 dep = $112,500 x 25% = $28,125; CA end Y3 = $112,500 - $28,125 = $84,375.
8Sunshine Ltd sold an office vehicle on 31 December 2025 for $18,000 cash. The vehicle original cost was $45,000 and its accumulated depreciation up to the date of sale was $32,000. What is the profit or loss on disposal of the vehicle?
A.Loss on disposal of $5,000
B.Profit on disposal of $18,000
C.Loss on disposal of $27,000
D.Profit on disposal of $5,000
Explanation: Carrying amount = Cost - Accumulated Depreciation = $45,000 - $32,000 = $13,000. Disposal Proceeds = $18,000. Profit on disposal = Proceeds - Carrying Amount = $18,000 - $13,000 = $5,000 profit.
9Townsville Trades traded in an old ute for a new ute costing $55,000. The dealer allowed a trade-in value of $15,000 for the old ute. The old ute had an original cost of $38,000 and accumulated depreciation of $26,000. How much cash must Townsville Trades pay, and what is the gain or loss on trade-in?
A.Cash paid: $40,000; Profit on trade-in: $3,000
B.Cash paid: $40,000; Loss on trade-in: $3,000
C.Cash paid: $55,000; Profit on trade-in: $15,000
D.Cash paid: $40,000; Loss on trade-in: $23,000
Explanation: Cash paid = New Asset Cost - Trade-in Allowance = $55,000 - $15,000 = $40,000. Carrying Amount of old ute = $38,000 - $26,000 = $12,000. Profit on Trade-in = Trade-in Allowance - Carrying Amount = $15,000 - $12,000 = $3,000 profit.
10What is the primary operational purpose of maintaining an Asset Register alongside the General Ledger Equipment Control account?
A.To calculate the total monthly cash receipts from sales
B.To record individual details of each non-current asset for internal control, identification, and location tracking
C.To replace the requirement for annual depreciation entries in the journal
D.To report external market revaluations directly to the Australian Taxation Office
Explanation: An Asset Register is a subsidiary ledger that maintains detailed individual records (serial numbers, acquisition date, cost, depreciation rate, location, carrying amount) for each non-current asset, providing internal control and reconciling with the General Ledger Control account.
About the QCAA Accounting Practice Questions
Verified exam format metadata for QCAA Senior Accounting Exam (Units 3 & 4) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.