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Sample IPB Russia Accountant Practice Questions

Try these sample questions to review concepts for the IPB Russia Accountant exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under Federal Law No. 402-FZ 'On Accounting' (О бухгалтерском учете), which of the following economic entities is entitled to choose not to maintain statutory accounting books?
A.An individual entrepreneur who keeps records of income and expenses for taxation purposes in accordance with Russian tax legislation
B.A limited liability company (OOO) classified as a small business entity and applying the simplified tax system
C.A commercial joint-stock company (AO) whose annual revenue does not exceed 120 million rubles
D.A non-profit foundation that does not carry out income-generating commercial activities
Explanation: According to Article 6, Part 2, Clause 1 of Federal Law No. 402-FZ, an individual entrepreneur (индивидуальный предприниматель) may exempt themselves from maintaining accounting records if they maintain records of income, expenses, or other tax objects in accordance with the Tax Code of the Russian Federation (such as via the tax book of income and expenses, КУДиР). Legal entities (including small businesses and non-profits) are required to maintain accounting books, though eligible entities may use simplified methods.
2Which of the following lists contains ONLY mandatory requisites (обязательные реквизиты) of a primary accounting document as specified by Article 9, Part 2 of Federal Law No. 402-FZ?
A.Document title, registration number, entity tax identification number (ИНН), economic entity name, bank details, and chief accountant signature
B.Document title, compilation date, economic entity name, fact of economic life content, measurement units, positions of signers, and signatures with identity
C.Document title, compilation date, physical seal imprint, contractual price, vat rate, positions of signers, and bank account numbers
D.Document title, compilation date, tax authority approval code, economic entity name, measurement units, and electronic timestamp
Explanation: Article 9, Part 2 of Federal Law No. 402-FZ establishes exactly seven mandatory requisites: (1) name of document, (2) date of compilation, (3) name of the economic entity, (4) content of the fact of economic life, (5) value of monetary and/or natural measurement with units, (6) titles of positions of responsible persons, and (7) signatures with surnames, initials, or identifiers. Seals, INN, and bank details are not statutory mandatory requisites under 402-FZ.
3Under Federal Accounting Standard FSBU 27/2021 'Documents and Document Flow in Accounting', when must a primary accounting document be compiled?
A.No later than the 5th business day of the calendar month following the reporting month
B.Strictly before the physical dispatch or shipment of the goods occurs
C.During the economic event or, if that is impossible, immediately after it ends
D.Within 3 business days following the formal verification of goods receipt by the warehouse head
Explanation: In accordance with Article 9, Part 3 of Federal Law No. 402-FZ and paragraph 8 of FSBU 27/2021, a primary accounting document must be drawn up during the performance of the fact of economic life, or, if this is impossible, immediately after its termination. If compilation occurs after the event, the document must indicate both the compilation date and the date the economic event took place.
4According to FSBU 27/2021, what is the mandatory procedure for correcting an erroneous paper primary accounting document (excluding cash documents)?
A.Completely replacing the original paper document with a newly printed document bearing the identical original compilation date
B.Applying opaque correction fluid over the error, writing the correct figure, and affixing the entity's official seal
C.Drawing up a supplementary correction memorandum without altering the face of the original physical document
D.Crossing out the error with a single line, inserting correct text/figures, and adding the date of correction and signatures with titles of the original signers
Explanation: Paragraphs 19-21 of FSBU 27/2021 require paper corrections to be made by crossing out the erroneous entry with a thin line so the original text remains legible, writing the correct wording/numbers above it, accompanied by the inscription 'Corrected' ('Исправлено'), the date of correction, and the signatures and position titles of the persons who compiled the original document. Correction fluid and total silent replacement without audit trails are prohibited.
5Which of the following primary documents is strictly prohibited from having any manual corrections under Russian statutory regulations?
A.Cash receipt orders (ПКО) and cash disbursement orders (РКО)
B.Standard consignment notes for goods dispatch (ТОРГ-12)
C.Advance expense reports of accountable employees (Авансовые отчеты)
D.Fixed asset acceptance and transfer acts (ОС-1)
Explanation: Bank of Russia Directive No. 3210-U prohibits corrections in cash receipt and disbursement orders. An erroneous order must be replaced rather than manually altered. FSBU 27/2021's general correction procedures do not override this specific cash-document prohibition.
6Under FSBU 27/2021, what requirement applies when primary accounting documents are composed in a foreign language for transactions with non-resident counterparties?
A.The document must be registered with the Federal Tax Service before entry into the accounting software
B.A line-by-line Russian translation must be provided on or attached to the document
C.The document must be fully rewritten in the Russian standardized form and signed by a public notary
D.No translation is required if the foreign counterparty is located in the Eurasian Economic Union (EAEU)
Explanation: Paragraph 5 of FSBU 27/2021 stipulates that accounting documents must be compiled in the Russian language. If a document is compiled in a foreign language under contract terms or foreign regulations, a line-by-line translation into Russian must be provided, which may be performed by an internal authorized employee or external translator.
7What is the statutory minimum retention period (срок хранения) for primary accounting documents, accounting registers, and financial statements under Federal Law No. 402-FZ?
A.Not less than 3 years following the date of the last on-site tax audit
B.Not less than 10 years for balance sheets and 1 year for primary documents
C.Not less than 5 years after the reporting year in which they were compiled
D.Permanently for all electronic documents and 3 years for paper documents
Explanation: Article 29, Part 1 of Federal Law No. 402-FZ states that primary accounting documents, accounting registers, financial statements, and audit reports must be kept by the economic entity for periods established in accordance with state archival regulations, but not less than 5 years after the reporting year.
8Under Federal Law No. 402-FZ (Article 7), who bears the ultimate statutory responsibility for organizing the accounting and document storage within an economic entity?
A.The chief accountant (главный бухгалтер)
B.The internal audit committee or auditor
C.The individual certified accountant compiling the primary entries
D.The head of the economic entity (руководитель экономического субъекта)
Explanation: Under Article 7, Part 1 of Federal Law No. 402-FZ, organizing accounting and ensuring the preservation of accounting documents is the direct statutory responsibility of the head of the economic entity (director, CEO, or sole executive body). The chief accountant is responsible for maintaining the accounting records, not for the legal organization of the accounting function.
9In which of the following circumstances is conducting a physical inventory of assets and liabilities (инвентаризация) MANDATORY under Russian accounting regulations?
A.Prior to the preparation of annual financial statements, except for assets inventoried after October 1 of the reporting year
B.Whenever a commercial customer delays payment beyond contractual credit terms
C.At the end of every calendar quarter prior to filing quarterly VAT returns
D.Upon the replacement of any operational accountant in the bookkeeping department
Explanation: Federal Law No. 402-FZ and FSBU 28/2023 require inventory verification before annual financial statements, subject to the standard's permitted timing exceptions. Other triggers include changes of financially responsible custodians, theft or damage, emergencies, reorganization, and liquidation. The older inventory guidance should not be treated as the governing 2026 standard.
10During an annual physical inventory, an entity discovers surplus raw materials (излишки материалов) with an estimated fair market value of 45,000 RUB. Which journal entry must be recorded in accordance with the Russian Chart of Accounts?
A.Debit 10 'Materials' — Credit 84 'Retained Earnings'
B.Debit 10 'Materials' — Credit 91.1 'Other Income'
C.Debit 10 'Materials' — Credit 20 'Main Production'
D.Debit 10 'Materials' — Credit 99 'Profits and Losses'
Explanation: FSBU 28/2023 requires recognition of qualifying inventory surpluses as assets and income. For the raw materials valued at 45,000 RUB in this question, debit account 10 and credit account 91.1. The entry recognizes the newly identified materials rather than a supplier liability or a direct retained-earnings adjustment.

About the IPB Russia Accountant Exam

Independent English-language MCQ study adaptation for Бухгалтер коммерческой организации, qualification level 5. It is not an official translation or an official-format simulation and does not replace preparing accounting records or solving the practical task. A formal permitted-assessment-language rule was not verified; confirm this with IPB Russia.

Exam sponsor: Institute of Professional Accountants and Auditors of Russia (ИПБ России). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Regular route: 8 questions in 30 minutes, pass 6; then one accounting task in 60 minutes, pass 11 of 16 points. The one-step campaign runs 3 September–4 November 2026: one practical task, 60 minutes, pass 11 points. Member and exemption routes differ. No separate oral defense is specified.

Time Limit

Regular route: 30 + 60 minutes; one-step campaign: 60 minutes

Passing Score

Regular route: 6/8 and 11/16; campaign task: 11 points

Exam / Certification Fees

No single all-inclusive fee verified. Confirm the assessment route and separate membership or preparation charges with IPB Russia.

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.

Editorial allocation; official weights unpublished

Accounting and primary documentation

Accounting organization, primary documents, registers, inventory, and entries.

Editorial allocation; official weights unpublished

Asset and cost accounting

Inventories, fixed assets, capital investments, cash, payroll, and production costs.

Editorial allocation; official weights unpublished

Tax fundamentals

VAT, profit tax, PIT, contributions, ENS, and special regimes.

Editorial allocation; official weights unpublished

Business law and professional ethics

Contracts, labor responsibilities, integrity, objectivity, confidentiality, and professional competence.

Preparing for the IPB Russia Accountant Exam

What You Need to Know

  • Passing score: Regular route: 6/8 and 11/16; campaign task: 11 points
  • Assessment: Regular route: 8 questions in 30 minutes, pass 6; then one accounting task in 60 minutes, pass 11 of 16 points. The one-step campaign runs 3 September–4 November 2026: one practical task, 60 minutes, pass 11 points. Member and exemption routes differ. No separate oral defense is specified.
  • Time limit: Regular route: 30 + 60 minutes; one-step campaign: 60 minutes
  • Exam / certification fees: No single all-inclusive fee verified. Confirm the assessment route and separate membership or preparation charges with IPB Russia. 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

IPB Russia Accountant: Suggested Study Strategy

1Prepare complete primary documents and accounting entries alongside MCQs.
2Use current FSBU inventory and reporting rules and the tax rules applicable to the transaction date.
3Confirm the regular, member, exemption, or campaign route before scheduling.

Frequently Asked Questions

Is this official-format practice?

No. These independent English-language MCQs teach accounting decisions, entries, calculations, and error diagnosis. They are not an official translation and do not replace the official practical accounting task.

Is self-preparation available?

Yes. IPB offers self-preparation as well as accredited-centre preparation. Candidates must still satisfy the applicable education and experience route.

Are Russian assessment-language permissions confirmed?

The published materials inspected are Russian, but that alone does not establish permitted delivery or response languages. No formal language rule was verified, so confirm with IPB Russia.