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Free Practice Questions for Korea Accounting Manager Level 2

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Key Facts: Korea Accounting Manager Level 2 Exam

40 questions

Official 회계원리 items on the Samil PwC 회계관리 2급 paper

https://www.pwc.com/kr/ko/events/certificate.html

50 minutes

Official exam duration (11:00–11:50)

https://www.pwc.com/kr/ko/events/certificate.html

70 / 100

Official pass mark on 회계원리

https://www.pwc.com/kr/ko/events/certificate.html

KRW 30,000

Official examination fee (certificate KRW 5,000 extra)

https://www.pwc.com/kr/ko/events/samilexam.html

8 sittings / year

Regular nationwide administrations published by PwC Korea

https://www.pwc.com/kr/ko/events/certificate.html

51.95%

PQI 2025 회계관리 2급 pass rate (3,516 of 6,768 examinees)

https://www.pqi.or.kr/inf/qul/infQulBasDetail.do?qulId=191

회계관리 2급 is Samil PwC's nationally accredited introductory 회계원리 exam: 40 Korean MCQs in 50 minutes, pass at 70/100, fee KRW 30,000, eight regular sittings a year. OpenExamPrep offers independent English MCQ practice for that subject, not an official translation.

Sample Korea Accounting Manager Level 2 Practice Questions

Try these sample questions to review concepts for the Korea Accounting Manager Level 2 exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which of the following statements best describes the primary objective of Financial Accounting (재무회계) as tested under Korean accounting principles?
A.To provide structured financial information to external decision-makers such as investors, creditors, and government authorities
B.To formulate confidential internal operational budgets and strategic performance plans for internal management
C.To determine optimal product pricing structures and direct manufacturing cost allocations for factory supervisors
D.To calculate individual income tax deductions and wage withholding amounts for corporate payroll staff
Explanation: Financial Accounting (재무회계) primarily focuses on providing useful financial information regarding the financial position and operating performance of an entity to external stakeholders, including shareholders, prospective investors, banks, and regulatory bodies. Management accounting (관리회계), in contrast, serves internal decision-makers.
2At the beginning of the fiscal year, Hanguk Trading had total assets of KRW 50,000,000 and total liabilities of KRW 20,000,000. During the year, total assets increased by KRW 15,000,000 and total liabilities decreased by KRW 5,000,000. Assuming no additional capital contributions or dividend withdrawals occurred, what was the company's net income (당기순이익) for the year?
A.KRW 10,000,000
B.KRW 15,000,000
C.KRW 20,000,000
D.KRW 25,000,000
Explanation: Beginning equity is Assets KRW 50,000,000 minus Liabilities KRW 20,000,000, or KRW 30,000,000. Ending assets are KRW 65,000,000 and ending liabilities are KRW 15,000,000, so ending equity is KRW 50,000,000. With no additional capital or drawings, net income (당기순이익) equals that KRW 20,000,000 increase in equity.
3Which of the following business events constitutes an accounting transaction (회계상의 거래) that must be recorded in the accounting records?
A.Signing an employment contract with a new marketing manager at an annual salary of KRW 48,000,000
B.Placing a formal purchase order with a supplier for merchandise valued at KRW 10,000,000
C.Signing a memorandum of understanding (MOU) to lease commercial office space next year
D.Suffering flood damage that destroys stored warehouse merchandise valued at KRW 8,000,000 without insurance coverage
Explanation: In financial accounting, an event is recorded as an accounting transaction only if it causes a measurable change in assets, liabilities, or equity. Flood damage causes a direct reduction in assets (inventory) and an immediate loss (expense), making it an accounting transaction. Employment agreements, purchase orders, and lease contracts do not change financial statement elements until performance or payment occurs.
4Which of the following transactions results in an increase in an asset and an increase in equity (자산의 증가 및 자본의 증가) according to the 8 Elements of Accounting Transactions (거래의 8요소)?
A.Purchasing office equipment for cash
B.Repaying a short-term bank borrowing by bank transfer
C.Issuing new shares of common stock for cash contributions from shareholders
D.Paying employee salaries by bank transfer
Explanation: Issuing new shares for cash increases cash on the debit side (자산의 증가) and increases contributed share capital on the credit side (자본의 증가). Purchasing equipment increases one asset and decreases another. Repaying bank debt decreases liabilities and assets. Paying salaries decreases equity (via expenses) and decreases assets.
5During 2026, Samil Corp. collected KRW 12,000,000 in cash from consulting clients. At the start of 2026, trade receivables (매출채권) was KRW 2,000,000 and unearned service revenue (선수수익) was KRW 1,500,000. At the end of 2026, trade receivables was KRW 3,500,000 and unearned service revenue was KRW 800,000. Under the accrual basis of accounting (발생주의), what is the recognized consulting service revenue for 2026?
A.KRW 11,300,000
B.KRW 12,800,000
C.KRW 14,200,000
D.KRW 15,000,000
Explanation: Accrual-basis consulting revenue equals cash collected adjusted for the period's receivable and unearned-revenue changes. Add the increase in trade receivables (매출채권) of KRW 1,500,000 and the decrease in unearned service revenue (선수수익) of KRW 700,000 to cash collections of KRW 12,000,000. Recognized 2026 revenue is therefore KRW 14,200,000.
6Which of the following accounting records serves as the original chronological book of entry (원시분개장) where transactions are first recorded with their debit and credit aspects?
A.General Ledger (총계정원장)
B.General Journal (분개장)
C.Trial Balance (시산표)
D.Statement of Financial Position (재무상태표)
Explanation: The General Journal (분개장) is the book of original entry where economic transactions are first recorded in chronological order. Each entry shows the date, account titles, debit and credit amounts, and a brief description. Amounts are posted from the journal to the General Ledger (총계정원장) only after this original recording.
7In double-entry bookkeeping, what is the process of transferring journalized debit and credit amounts from the General Journal to their respective accounts in the General Ledger called?
A.Journalizing (분개)
B.Posting (전기)
C.Trial Balancing (시산)
D.Closing (결산마감)
Explanation: Posting (전기, 轉記) transfers each journalized debit and credit into the matching T-account in the General Ledger (총계정원장). After posting, every account shows its running balance. Journalizing records the transaction; posting classifies it by account.
8Which of the following errors will cause an inequality between total debits and total credits on the Trial Balance (시산표의 대차불일치)?
A.A complete journal entry of KRW 500,000 for utility expense was omitted entirely from both the journal and ledger
B.A cash collection of KRW 1,000,000 was posted as a debit of KRW 1,000,000 to Cash and a credit of KRW 100,000 to Accounts Receivable
C.A debit posting of KRW 300,000 for office supplies was mistakenly posted to the debit of advertising expense
D.An entire sales transaction of KRW 2,000,000 was accidentally journalized and posted twice
Explanation: A trial balance detects errors that cause total debits to differ from total credits. Posting KRW 1,000,000 to the debit side and only KRW 100,000 to the credit side creates an immediate arithmetic imbalance of KRW 900,000 on the trial balance. Complete omissions, duplicate entries, and posting to wrong accounts with matching amounts still balance.
9Which of the following types of trial balance lists both the cumulative debit/credit transaction totals and the resulting net balances for every account in the general ledger?
A.Total Trial Balance (합계시산표)
B.Balance Trial Balance (잔액시산표)
C.Compound Total and Balance Trial Balance (합계잔액시산표)
D.Post-Closing Trial Balance (이월시산표)
Explanation: The Compound Total and Balance Trial Balance (합계잔액시산표) is the standard Korean format that shows both cumulative debit/credit totals and the resulting net balances. Its four columns are total debit transactions, debit balances, credit balances, and total credit transactions. A totals-only 합계시산표 or a balances-only 잔액시산표 each omits one of those checks.
10On December 31, 2026, Daehan Company's ledger shows the following account balances: Cash KRW 4,000,000; Accounts Receivable KRW 6,000,000; Inventory KRW 8,000,000; Accounts Payable KRW 5,000,000; Short-term Borrowings KRW 3,000,000; Common Stock KRW 7,000,000; and Sales Revenue KRW 12,000,000. Operating Expenses totaled KRW 9,000,000. What is the total of the debit column on the pre-adjustment trial balance?
A.KRW 24,000,000
B.KRW 27,000,000
C.KRW 30,000,000
D.KRW 32,000,000
Explanation: Debit balance accounts normally include Assets and Expenses: Cash (4,000,000) + Accounts Receivable (6,000,000) + Inventory (8,000,000) + Operating Expenses (9,000,000) = KRW 27,000,000. Credit balance accounts: Accounts Payable (5,000,000) + Short-term Borrowings (3,000,000) + Common Stock (7,000,000) + Sales Revenue (12,000,000) = KRW 27,000,000.

About the Korea Accounting Manager Level 2 Exam

회계관리 2급 is the entry grade of Samil PwC's nationally accredited accounting-manager series (국가공인 민간자격 등록번호 2008-0105; 금융위원회 제2019-4호). PwC Korea describes it as a test of basic 회계원리 for office work and everyday economic activity: journals, ledgers, trial balances, account treatment, closing, and financial-statement reading. The official Korean paper has 40 four-option items in 50 minutes and a 70-point pass mark, with no age, education, or experience gate. OpenExamPrep provides independent 회계관리 2급 practice: an English-language 100-item four-option MCQ study adaptation. It is not an official translation, past paper, or substitute for the Korean sitting.

Exam sponsor: Samil PwC (삼일회계법인 / samilexam.com). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Single 50-minute 회계원리 session (official clock 11:00–11:50). 40 four-option items scored out of 100. Pass at 70. Combined sitting with 재경관리사 or 회계관리 1급 is allowed only in the combinations Samil PwC publishes.

Time Limit

50 minutes

Passing Score

70 points or higher out of 100 on 회계원리

Exam / Certification Fees

KRW 30,000 (certificate issuance KRW 5,000 extra)

Exam sponsor website

Reported exam pass rate: 51.95% (PQI 2025, 회계관리 2급). Private Qualification Information Service (pqi.or.kr qulId=191) 2025 table: 6,768 examinees, 3,516 certificants, 8 sittings. This describes exam candidates, not OpenExamPrep users or results from using our resources. Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

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.

25%

Accounting cycle and bookkeeping (회계의 순환과정)

Accounting equation, eight transaction elements, 분개장, 전기 to 총계정원장, and 시산표. Practice-bank share of the unpublished official topic mix.

45%

Account treatment (계정과목)

Cash and cash equivalents, receivables and 대손충당금, inventory, tangible assets and depreciation, liabilities, and equity.

20%

Period-end closing and statements (결산 및 재무제표)

Adjusting entries, closing 손익 accounts to 집합손익, and preparing the statement of financial position and income statement.

10%

Statement reading and audit opinions

Reading statements, basic ratios, and introductory audit-opinion types used in 회계원리 study.

Preparing for the Korea Accounting Manager Level 2 Exam

What You Need to Know

  • Passing score: 70 points or higher out of 100 on 회계원리
  • Assessment: Single 50-minute 회계원리 session (official clock 11:00–11:50). 40 four-option items scored out of 100. Pass at 70. Combined sitting with 재경관리사 or 회계관리 1급 is allowed only in the combinations Samil PwC publishes.
  • Time limit: 50 minutes
  • Exam / certification fees: KRW 30,000 (certificate issuance KRW 5,000 extra) 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

Korea Accounting Manager Level 2: Suggested Study Strategy

1Trace one transaction all the way from 분개장 through 전기, 수정전 시산표, adjusting entries, and 수정후 시산표 before you memorize isolated journal formats.
2Keep the four adjusting-entry pairs distinct: 선급비용 (asset), 선수수익 (liability), 미수수익 (asset), and 미지급비용 (liability).
3Practice FIFO versus weighted-average inventory and straight-line versus declining-balance depreciation with KRW numbers, because 회계원리 items often turn on the arithmetic rather than the definition.
4Remember that this OpenExamPrep bank is English study practice; the official sitting is Korean 객관식 4지선다, so keep the Korean account titles (분개장, 대손충당금, 집합손익) in your notes.

Frequently Asked Questions

What is the official 회계관리 2급 format and pass mark?

Samil PwC's official Korean paper is 40 four-option MCQs in Accounting Principles (회계원리) in 50 minutes (11:00–11:50). The subject is scored out of 100; the pass mark is 70. PwC Korea states eight regular sittings a year and open eligibility.

Is this OpenExamPrep bank an official translation or an official-format simulation?

No. The official exam is a Korean-language 40-item paper. This page is independent 회계관리 2급 practice by OpenExamPrep: a 100-item English four-option MCQ study adaptation. It is not an official translation, not a past paper, and not a simulation of the Korean sitting.

Who administers 회계관리 2급 and how much does it cost?

삼일회계법인 (Samil PwC) issues the nationally accredited private qualification (등록번호 2008-0105; 금융위원회 제2019-4호). PwC Korea publishes KRW 30,000 for the exam and KRW 5,000 for certificate issuance. Register at samilexam.com.

How does 회계관리 2급 differ from 회계관리 1급 and 재경관리사?

All three are Samil PwC nationally accredited papers. 2급 is one 회계원리 subject (40 items, 50 minutes). 1급 is 재무회계 plus 세무회계 (80 items, 100 minutes). 재경관리사 adds 원가관리회계 (120 items, 150 minutes) with a 70-point floor on each subject.

Is OpenExamPrep affiliated with Samil PwC?

No. OpenExamPrep publishes independent 회계관리 2급 practice. It does not claim Samil PwC approval, partnership, or exact equivalence to the official Korean paper.