Start learning →

CS Foundation — free MCQ practice

Choose from 69 questions across 3 subjects and 5 topics. Open any question for its answer and worked solution, or keep learning through bite-sized lessons and reviews with Quill.

Start learning CS Foundation with Quill →

CS Foundation subjects

Accountancy (42)Business Studies (26)Businesslaw (1)

Explore popular topics

PartnershipBusinessnatureTheorybaseRecordingtransactionsNational Income Accounting

Try a CS Foundation question

The concept that treats the business as separate from its owner is theRead the answer and worked solution →According to the going-concern concept, a business is assumed toRead the answer and worked solution →Recording only transactions that can be expressed in money terms reflects theRead the answer and worked solution →'Anticipate no profit but provide for all possible losses' expresses the convention ofRead the answer and worked solution →

Worked practice questions

The concept that treats the business as separate from its owner is the

  1. going concern concept
  2. money measurement concept
  3. business entity concept
  4. dual aspect concept
Show answer and solution

Correct answer: C. business entity concept

The business entity concept treats the business and its owner as distinct the owner's personal transactions are kept out of the business books.

Open this question →

According to the going-concern concept, a business is assumed to

  1. sell all assets immediately
  2. continue operating for the foreseeable future
  3. close at the end of the year
  4. have unlimited capital
Show answer and solution

Correct answer: B. continue operating for the foreseeable future

Going concern assumes the enterprise will continue indefinitely, which justifies recording assets at cost and charging depreciation over their life.

Open this question →

Recording only transactions that can be expressed in money terms reflects the

  1. money measurement concept
  2. matching concept
  3. prudence concept
  4. accrual concept
Show answer and solution

Correct answer: A. money measurement concept

The money measurement concept records only monetary transactions non-monetary facts (e.g. staff morale) are excluded.

Open this question →

How to practise

  1. Choose a CS Foundation question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.