100+ Free QCAA Accounting Practice Questions
Prepare for the QCAA Senior Accounting Exam (Units 3 & 4) exam with instant access — no signup required.
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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?
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?
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?
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?
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?
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?
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)?
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?
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?
10What is the primary operational purpose of maintaining an Asset Register alongside the General Ledger Equipment Control account?
About the QCAA Accounting Exam
The QCAA Accounting Senior Syllabus (Units 3 & 4) evaluates student mastery in managing non-current asset resources, financial statement compilation, cash flow analysis, budgeting and control, multi-dimensional financial ratio analysis, and corporate accounting for Australian companies.
Assessment
Performance-based assessment
Time Limit
2 hours working time (External Exam)
Passing Score
50%
Exam Fee
State-funded school assessment (Queensland Curriculum and Assessment Authority (QCAA))
QCAA Accounting Exam Content Outline
Managing Resources for Non-Current Assets
Depreciation methodologies, asset disposal profit/loss calculations, trade-ins, and asset registers.
Financial Reporting & Accounting Concepts
AASB Conceptual Framework, Financial Statements, Cash Flow Statements, and accrual balance-day adjustments.
Budgeting & Financial Control
Cash budgets, debtors/creditors schedules, master budget components, and variance evaluation.
Performance Evaluation & Financial Ratios
Liquidity, profitability, efficiency, and solvency metrics with analytical evaluation.
Corporate Accounting & Capital Structure
Issue of shares, share application and allotment, dividends, reserves, and corporate reports.
How to Pass the QCAA Accounting Exam
What You Need to Know
- Passing score: 50%
- Assessment: Performance-based assessment
- Time limit: 2 hours working time (External Exam)
- Exam fee: State-funded school assessment
Keys to Passing
- Work through all 100 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
QCAA Accounting Study Tips from Top Performers
Frequently Asked Questions
What topics are assessed in QCAA Senior Accounting Units 3 & 4?
Units 3 & 4 cover Managing resources for non-current assets, Financial reporting, Budgeting, Performance evaluation, and Corporate accounting under Australian accounting standards.
Does this question bank include calculation-based accounting questions?
Yes. A substantial portion of the questions involve step-by-step numerical calculations such as depreciation schedules, gain/loss on asset disposal, cash receipt schedules, financial ratios, and share issue entries.
How are the questions formatted?
Each question includes a clear stem, four distinct options, a 0-based index for the correct answer, a detailed step-by-step solution, and explanations for why each distractor is incorrect.