100+ Free Junior Accounting Qualification (China) Practice Questions

Primary Accounting Practice: Accounting Fundamentals & Current Assets (初级会计实务 - 会计基础与流动资产)

Evaluates foundational bookkeeping mechanics and liquid asset management under Chinese Accounting Standards (CAS): definition and recognition of six accounting elements (assets, liabilities, equity, revenue, expenses, profit), static and dynamic accounting equations, debit-credit double-entry bookkeeping rules, source documents and accounting books verification, bank reconciliation statements and unadjusted items, cash inventory surplus/deficits, allowance for bad debts using the expected credit loss approach, inventory initial cost inclusion and exclusions, FIFO vs weighted average costing methods, inventory write-down to net realizable value (NRV), and trading financial assets fair value accounting.

Primary Accounting Practice: Non-Current Assets, Liabilities & Equity (初级会计实务 - 非流动资产、负债与所有者权益)

Covers long-term capital assets, obligations, and capital structure: fixed asset initial measurement (purchased and self-constructed), depreciation scopes and mathematical calculations (straight-line, double declining balance, sum-of-the-years-digits), subsequent capital vs revenue expenditures, fixed asset retirement and disposal gains/losses, intangible assets R&D expenditure capitalization vs expensing, short-term debt accounting, employee compensation classification (short-term wages/benefits vs post-employment defined contribution pensions), non-monetary employee benefits, VAT sub-accounts (Input Tax, Output Tax, Transfer Out), paid-in capital, and statutory surplus reserves.

Primary Accounting Practice: Revenue, Profit, Statements & Costing (初级会计实务 - 收入、利润、报表与产品成本)

Focuses on commercial revenue realization, operating performance, financial statements, and cost accounting: CAS 14 five-step revenue model, point-in-time vs over-time performance obligation satisfaction, commercial discounts vs cash discounts, period expense categorization (selling, administrative, financial), step-by-step operating profit, total profit, and net profit calculations, income tax expense, balance sheet net line-item reporting (accounts receivable, inventories, fixed assets), cash flow operating/investing/financing activities, and work-in-progress equivalent units costing.

Economic Law: Legal Foundations, Accounting Law & Payment Settlements (经济法基础 - 总论、会计法律与支付结算法律制度)

Covers civil legal foundations, statutory dispute resolution, accounting governance, and commercial payment systems: civil legal capacity tiers, arbitration agreement validity and single-instance finality, 3-year civil statute of limitations, 60-day administrative review procedures, PRC Accounting Law responsibilities of entity leaders, accounting handover rules, 30-year vs permanent accounting archive retention periods, bank settlement accounts (basic, general, dedicated, temporary), check 10-day presentation period, commercial draft acceptance and discounting, and bank promissory notes.

Economic Law: Tax Legal System — VAT, Consumption Tax, EIT & IIT (经济法基础 - 增值税、消费税、企业所得税与个人所得税)

Comprehensive analysis of major Chinese direct and indirect tax laws: Value-Added Tax (VAT) taxable scopes (13%, 9%, 6%), general vs small-scale taxpayer calculations, non-deductible input tax scenarios, deemed sales, special VAT invoice restrictions, Consumption Tax taxable categories, ad valorem vs compound calculation methods, Enterprise Income Tax (EIT) resident criteria, 25% standard vs 15% high-tech rates, pre-tax expense caps (employee welfare 14%, union 2%, employee education 8%, charity 12%), non-deductible items, Individual Income Tax (IIT) 183-day resident rule, comprehensive income 7 progressive brackets, and special additional deductions.

Economic Law: Property Taxes, Tax Administration & Labor Law (经济法基础 - 财产行为税、税收征管法与劳动合同社保)

Encompasses secondary taxes, tax procedural law, and labor relations: Real Estate Tax (1.2% ad valorem vs 12% rental), Deed Tax, Stamp Tax taxable documents, daily 0.05% late payment surcharges, tax preservation vs mandatory enforcement, mandatory pre-litigation tax reconsideration, written labor contract 1-month deadline and double wage sanctions, statutory probation limits (1, 2, 6 months), severance pay N calculation, overtime compensation multipliers (150%, 200%, 300%), paid annual leave brackets, and social insurance five funds.