Free Practice Questions for LC Accounting
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Key Facts: LC Accounting Exam
1 paper
Leaving Certificate Accounting is assessed by one terminal written paper under the established syllabus
State Examinations Commission
3 hours
Higher Level written paper lasts 3 hours
State Examinations Commission examination papers
400 marks
Higher Level paper is marked out of 400 marks
State Examinations Commission examination papers
3 sections
Higher Level paper has three sections: two financial accounting sections and one management accounting section
State Examinations Commission examination papers
120 + 200 + 80
Section mark allocation at Higher Level is 120, 200 and 80 marks respectively
State Examinations Commission examination papers
H1-H8
Higher Level grades range from H1 (90-100%) to H8 (below 30%)
State Examinations Commission grading scale
To 2028
The established Accounting syllabus is examined to June 2028; redeveloped specification arrives later for new fifth-year cohorts
NCCA Curriculum Online
100
Free original single-best-answer practice questions here
OpenExamPrep
Leaving Certificate Accounting is the Irish senior-cycle accounting subject set by the State Examinations Commission. For 2026 it remains a single 3-hour written paper (400 marks at Higher Level) under the established syllabus: financial accounting final accounts and specialised topics plus management accounting. Content spans concepts and records, depreciation and control accounts, company and specialised final accounts, incomplete records, cash flow, ratios and budgets. This 100-question bank provides original single-best-answer concept and calculation practice across the syllabus.
Sample LC Accounting Practice Questions
Try these sample questions to review concepts for the LC Accounting exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which accounting concept requires that revenue and related expenses are recognised in the period to which they relate, regardless of when cash is received or paid?
2Under the prudence concept, which treatment is most appropriate?
3Equipment cost €48,000, residual value €3,000, useful life 5 years, straight-line method. What is the annual depreciation charge?
4A machine cost €25,000 and is depreciated at 20% per annum using the diminishing (reducing) balance method. What is depreciation for Year 2?
5On 1 January a van cost €30,000. Straight-line depreciation is 20% per year on cost (no residual). The van is sold on 31 December of Year 2 for €16,000. What is the profit or loss on disposal?
6Rent paid during the year was €18,000. Opening prepaid rent was €1,500 and closing prepaid rent is €2,000. What rent expense appears in the profit and loss account?
7Electricity expense for the year should be €9,200. The business paid €8,400 and there was no opening accrual. What is the closing accrued expense?
8Trade receivables are €40,000. A specific bad debt of €2,000 is to be written off and a general provision of 5% is required on remaining receivables. What is the net receivables figure for the balance sheet?
9In double-entry bookkeeping, which statement is correct?
10Which of the following is capital expenditure?
About the LC Accounting Exam
Leaving Certificate Accounting is an Irish State examination subject administered by the State Examinations Commission and studied over the two-year senior cycle. The established syllabus (examined to June 2028) covers the conceptual and regulatory framework of accounting, double-entry records and year-end adjustments, sole trader and company final accounts, specialised accounts (manufacturing, clubs, farms, departmental, incomplete records), cash flow statements, ratio analysis and published accounts concepts, plus management accounting including costing, break-even analysis and budgeting. Assessment is by a single terminal written paper (Higher or Ordinary level). At Higher Level the paper is 3 hours and 400 marks across three sections emphasising computational accuracy and presentation. A redeveloped Accounting specification is scheduled for introduction no earlier than September 2027 for fifth-year students; 2026 candidates remain on the established written-only syllabus. Results use the H1-H8 / O1-O8 grade scales for CAO points.
Exam sponsor: State Examinations Commission (SEC), Ireland. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Assessment
One terminal written paper at Higher or Ordinary level under the established syllabus (examined to June 2028). Higher Level (400 marks, 3 hours): Section 1 Financial Accounting (120 marks) — answer Question 1 (120 marks, A or B) or two of Questions 2–4 (60 marks each); Section 2 Financial Accounting (200 marks) — answer two of three questions (100 marks each); Section 3 Management Accounting (80 marks) — answer one of two questions. A redeveloped specification is planned no earlier than September 2027 for later cohorts.
Time Limit
The Higher Level written paper lasts 3 hours (commonly an afternoon sitting during the June Leaving Certificate examinations) and is marked out of 400 marks.
Passing Score
No fixed pass mark. Results are reported on the H1-H8 scale at Higher Level (H1 = 90-100% down to H8 = below 30%) and O1-O8 at Ordinary Level.
Exam / Certification Fees
Candidates in recognised schools do not pay a separate sitting fee; external and repeat candidates pay an examination fee set annually by the State Examinations Commission.
Exam sponsor websiteFees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Our practice resources: topics covered
We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.
Conceptual and Regulatory Framework
Practice covers going concern, accruals, prudence and consistency, qualitative characteristics of accounting information, capital versus revenue expenditure, and Higher Level awareness of true and fair view and the auditor's role.
Records, Adjustments and Controls
Practice covers double-entry logic, trial balance limitations, accruals and prepayments, bad debts and provisions, straight-line and reducing-balance depreciation with disposal, bank reconciliation, debtors and creditors control accounts, and suspense account error correction.
Final Accounts and Specialised Accounts
Practice covers sole trader trading and profit and loss accounts and balance sheets, company capital structure and dividends, manufacturing accounts and unit cost, club income and expenditure and accumulated fund, farm enterprise ideas, departmental profit, incomplete records (net worth and mark-up methods) and simple cash flow statements.
Interpretation and Published Accounts
Practice covers gross and net profit margins, mark-up, stock turnover, current and acid-test ratios, ROCE, gearing, investment ratios, limitations of ratio analysis and published PLC report concepts at Leaving Certificate level.
Management Accounting
Practice covers fixed versus variable and direct versus indirect costs, contribution and break-even, margin of safety, product costing ideas, and cash and master budget logic under budgetary control.
Preparing for the LC Accounting Exam
What You Need to Know
- Passing score: No fixed pass mark. Results are reported on the H1-H8 scale at Higher Level (H1 = 90-100% down to H8 = below 30%) and O1-O8 at Ordinary Level.
- Assessment: One terminal written paper at Higher or Ordinary level under the established syllabus (examined to June 2028). Higher Level (400 marks, 3 hours): Section 1 Financial Accounting (120 marks) — answer Question 1 (120 marks, A or B) or two of Questions 2–4 (60 marks each); Section 2 Financial Accounting (200 marks) — answer two of three questions (100 marks each); Section 3 Management Accounting (80 marks) — answer one of two questions. A redeveloped specification is planned no earlier than September 2027 for later cohorts.
- Time limit: The Higher Level written paper lasts 3 hours (commonly an afternoon sitting during the June Leaving Certificate examinations) and is marked out of 400 marks.
- Exam / certification fees: Candidates in recognised schools do not pay a separate sitting fee; external and repeat candidates pay an examination fee set annually by the State Examinations Commission. Official sources
Using Our Practice Resources
- Work through all 100 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
LC Accounting: Suggested Study Strategy
Frequently Asked Questions
How is Leaving Certificate Accounting examined in 2026?
In 2026 it is examined under the established syllabus by one terminal written paper at Higher or Ordinary level. Higher Level is 3 hours and 400 marks across three sections: final accounts-style financial accounting, further financial accounting topics and management accounting.
What are the three sections of the Higher Level paper?
Section 1 (120 marks) is financial accounting final accounts: answer Question 1 (120 marks) or two of Questions 2–4 (60 each). Section 2 (200 marks) requires two of three financial accounting questions (100 each). Section 3 (80 marks) is management accounting: answer one of two questions.
What topics does Leaving Cert Accounting cover?
The established syllabus covers the conceptual framework, double-entry records and adjustments, sole trader and company accounts, manufacturing, club, farm and departmental accounts, incomplete records, cash flow, ratio analysis, published accounts concepts (Higher Level) and management accounting (costing, break-even and budgets).
Is there coursework for Leaving Certificate Accounting in 2026?
No for the established-syllabus cohort: assessment is the written paper. A redeveloped Accounting specification is planned for introduction no earlier than September 2027 for later fifth-year cohorts.
How are grades reported?
Higher Level uses H1-H8 and Ordinary Level uses O1-O8. Grades 1-7 cover 10% bands from 90-100% down to 30-39%, with grade 8 for marks below 30%.
Are these official State Examinations Commission questions?
No. These are original OpenExamPrep single-best-answer concept and calculation questions modelled on the syllabus. The SEC publishes official past papers and marking schemes separately, and you should also practise full written final accounts, specialised accounts and management accounting questions under timed conditions.