SAPP Academy Tel 096 972 94 63

6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
DELOITTE ENTRANCE TEST
Full name:
Test:
Total question: 60 MCQs + 1 essay
Time: 90 minutes

I. ACCOUNTING (20 questions)

1. The following information is available for a sole trader who keeps no accounting
records:
Net business assets at 1 July 20X6 186,000
Net business assets at 30 June 20X7 274,000

During the year ended 30 June 20X6:

Cash drawings by proprietor 68,000
Additional capital introduced by proprietor 50,000
Business cash used to buy a car for the proprietor's 20,000
wife, who takes no part in the business

Using this information, what is the trader's profit for the year ended 30 June 20X6?
A. $126,000
B. $50,000
C. $86,000
D. $90,00

2. Which of the following statements apply when producing a consolidated statement of

financial position?
(i) All intra-group balances should be eliminated.
(ii) Intra-group profit in year-end inventory should be eliminated.
(iii) Closing inventory held by subsidiaries needs to be included at fair value.
A. i only
B. i, ii and iii
C. i and ii only
D. iii only

Page 1 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
3. Which of the following items could appear in a company’s statement of cash flows?
(i) Surplus on revaluation of non-current assets
(ii) Repayment of long-term borrowing
(iii) Bonus issue of shares
(iv) Interest received

A. i and ii
B. iii and iv
C. i and iii
D. ii and iv

4. Which of the following statements are correct?

(i) A liability is a present obligation, arising from past events, the settlement of which is
expected to result in an outflow of economic resources.
(ii) An uncertain liability may be called a provision.
(iii) A contingent liability should be disclosed in the notes to the financial statements.
A. i only
B. i and ii only
C. ii and iii only
D. i, ii and iii

5. A company sublets part of its office accommodation. In the year ended 30 June 20X5
cash received from tenants was $83,700. Details of rent in arrears and in advance at the
beginning and end of the year were:
In arrears In arrears
$ $
30 June 20X6 3,800 2,400
30 June 20X7 4,700 3,000

All arrears of rent were subsequently received.

What figure for rental income should be included in the company's statement of profit
or loss for the year ended 30 June 20X5?
A. $84,000
B. $83,400
C. $80,600
D. $85,800

Page 2 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
6. Which of the following are correct?
(i) The statement of financial position value of inventory should be as close as possible
to net realisable value.
(ii) The valuation of finished goods inventory must include production overheads.
(iii) Production overheads included in valuing inventory should be calculated by
reference to the company's normal level of production during the period.
(iv) In assessing net realisable value, inventory items must be considered separately, or
in groups of similar items, not by taking the inventory value as a whole.
A. i and ii only
B. iii and iv only
C. i and iii only
D. ii, iii and iv

7. The figures shown in the table below are an extract from the accounts of Ridgeway
(capital employed is $1.5m).
$
Revenue 1,000,000
Cost of sales 400,000
Gross profit 600,000
Distribution expenses and administration cost 300,000
Profit before interest and tax 300,000
Finance cost 50,000
Profit before tax 250,000
Income tax expense 100,000
Profit after tax 150,000
What is the return on capital employed (ROCE)?
A. 7%
B. 10%
C. 40%
D. 20%

Page 3 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
8. Ordan received a statement from one of its suppliers, Alta, showing a balance due of
$3,980. The amount due according to the payables ledger account of Alta in Ordan's
records was only $230. Comparison of the statement and the ledger account revealed
the following differences:
 A cheque sent by Ordan for $270 has not been allowed for in Alta's statement.
 Alta has not allowed for goods returned by Ordan $180.
 Ordan made a contra entry, reducing the amount due to Alta by $3,200, for a
balance due from Alta in Ordan's receivables ledger. No such entry has been made
in Alta's records.
What difference remains between the two companies' records after adjusting for these
items?
A. $460
B. $640
C. $6,500
D. $100

9. Which of the following statements are correct?

(i) Contingent assets are included as assets in financial statements if it is probable that
they will arise.
(ii) Contingent liabilities must be provided for in financial statements if it is probable
that they will arise.
(iii) Material non-adjusting events are disclosed by note in the financial statements.
A. i only
B. i and iii
C. ii and iii
D. iii only

10. At 1 January 20X5 a company had an allowance for receivables of $18,000

At 31 December 20X5 the company's trade receivables were $458,000.
It was decided:
 To write off debts totalling $28,000 as irrecoverable.
 To adjust the allowance for receivables to the equivalent of 5% of the remaining
receivables.
What figure should appear in the company's statement of profit or loss for the total of
debts written off as irrecoverable and the movement in the allowance for receivables
for the year ended 31 December 20X5?
A. $49,500
B. $31,500
C. $32,900
D. $50,900

Page 4 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
11. The following information is available about the transactions of Razil, a sole trader who
does not keep proper accounting records:
$
Opening inventory 77,000
Closing inventory 84,000
Purchases 763,000

Gross profit as a percentage of sales 30%

Based on this information, what is Razil's sales revenue for the year?
A. $982,800
B. $1,090,000
C. $2,520,000
D. $1,080,000

12. Tinsel Co has 5 million $1 issued ordinary shares. At 1 May 20X0 Fairy Co purchased 60%
of Tinsel Co’s $1 ordinary shares for $4,000,000. At that date Tinsel Co had net assets
with a fair value of $4,750,000 and a share price of $1.10. Fairy Co valued the non-
controlling interest in Tinsel Co at acquisition as $2,200,000.
What is the total goodwill on acquisition at 1 May 20X0?
A. $1,150,000
B. $1,750,000
C. $ 750,000
D. $1,450,000

13. On 1 September 20X6, a business had inventory of $380,000. During the month, sales
totaled $650,000 and purchases $480,000. On 30 September 20X6 a fire destroyed
some of the inventory. The undamaged goods in inventory were valued at $220,000.
The business operates with a standard gross profit margin of 30%.
Based on this information, what is the cost of the inventory destroyed in the fire?
A. $185,000
B. $140,000
C. $405,000
D. $360,000

Page 5 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

14. A business received a delivery of goods on 29 June 20X6, which was included in
inventory at 30 June 20X6. The invoice for the goods was recorded in July 20X6.
(i) Profit for the year ended 30 June 20X6 will be overstated.
(ii) Inventory at 30 June 20X6 will be understated.
(iii) Profit for the year ending 30 June 20X7 will be overstated.
(iv) Inventory at 30 June 20X6 will be overstated.
What effect will this have on the business?
A. i and ii
B. ii and iii
C. i only
D. i and iv

15. Which of the following statements about the requirements of VAS 18 Provisions,
Contingent Liabilities and Contingent Assets are correct?
(i) Contingent assets and liabilities should not be recognised in the financial
statements.
(ii) A contingent asset should only be disclosed in the notes to a financial statement
where an inflow of economic benefits is probable.
(iii) A contingent liability may be ignored if the possibility of the transfer of economic
benefits is remote.
A. All three statements are correct
B. i and ii only
C. i and iii only
D. ii and iii only

16. Carter, a limited liability company, has non-current assets with a carrying value of
$2,500,000 on 1 December 20X7.
During the year ended 30 November 20X8, the following occurred:
 Depreciation of $75,000 was charged to the statement of profit or loss.
 Land and buildings with a carrying value of $1,200,000 were revalued to $1,700,000.
 An asset with a carrying value of $120,000 was disposed of for $150,000.
 The carrying value of non-current assets at 30 November 20X8 was $4,200,000.
In accordance with VAS 24 Statement of Cash Flows, what net cash flows from the
above transactions would be included within ‘net cash flows from investing activities’
for the year ended 30 November 20X8?
A. $(1,395,000)
B. $(1,365,000)
C. $150,000
D. $(1,245,000)

Page 6 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
17. A newly-registered company is considering the accounting policies it should adopt.
Policies under consideration are:
(i) Research and development expenditure should be capitalised and amortised over
the years in which the resultant product is sold or used.
(ii) Inventory should be valued at the lower of cost and net realisable value.
(iii) Goodwill arising in a business combination should be written off immediately to the
statement of profit or loss.
Which of these possible accounting policies would, if adopted, contravene International
Financial Reporting Standards?
A. i and ii only
B. ii and iii only
C. i and iii only
D. i, ii and iii

18. Which of the following costs should be included in valuing inventories of finished goods
held by a manufacturing company, according to VAS 2 Inventories?
(i) Carriage inwards
(ii) Carriage outwards
(iii) Depreciation of factory plant
(iv) Accounts department costs relating to wages for production employees
A. All four items
B. ii and iii only
C. i, iii and iv only
D. i and iv only

19. The increase in net assets is $173, drawings are $77 and capital introduced is $45.
What is the net profit for the year?
A. $295
B. $205
C. $51
D. $141

20. Capital introduced is $50. Profits brought forward at the beginning of the year amount
to $100 and liabilities are $70. Assets are $90.
What is the retained profit for the year?
A. $130 profit
B. $130 loss
C. $10 profit
D. $10 loss

Page 7 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
II. AUDITING (15 questions)
21. Which one of the following procedures should NOT be carried out after the audit firm
has decided to accept appointment as auditor?
A. Ensure that the outgoing auditors’ removal/ resignation has been properly
conducted
B. Ensure that a resolution has been passed at the general meeting to appoint the new
auditors
C. Perform checks to ensure that there are no legal or ethical reasons why the new
audit firm cannot act as auditor
D. Submit a letter of engagement to the directors

22. Which one of the following NOT constitute analytical procedures?

A. Consideration of comparable information for period periods
B. Consideration of relationships between elements of financial information that are
expected to conform to a predicted pattern
C. Consideration of whether a balance has been calculated correctly
D. Consideration of similar industry information

23. What is the primary difference between fraud and errors in financial statement
reporting?
A. The materiality of the misstatement
B. The intent to deceive
C. The level of management involved
D. The type of transaction effected

24. Which two of the following characteristics apply to internal audit?

(i) The purpose is to improve the company’s operations.
(ii) Reports to shareholders on whether the financial statements give a true and fair
view of affairs.
(iii) Auditors may be employees of the company.
(iv) Evidence is collected in accordance with relevant regulations.
A. i and iii
B. ii and iv
C. i and iv
D. ii and iii

Page 8 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
25. What are the two elements of the risk of material misstatement at the assertion level?
A. Inherent risk and detection risk
B. Audit risk and detection risk
C. Inherent risk and control risk
D. Detection risk and control risk

26. The auditor of Z Co has set performance materiality at $100,000. Which of the following
could be the materiality level set for the financial statements as a whole for Z Co?
A. $80,000
B. $95,000
C. $100,000
D. $120,000

27. Due to disruptions caused by the recent transition to a new accounting system, one
month of H Co's inventory records have been lost. The auditors performing the
statutory audit for the twelve-month period have determined that the possible effects
of undetected misstatements could be material, but not pervasive.
What form of audit opinion would the auditor give?
A. Unmodified opinion with an emphasis of matter paragraph
B. Qualified opinion
C. Adverse opinion
D. Disclaimer of opinion

28. The auditor of A Co wishes to reduce audit risk.

Which of the following actions could the auditor take to achieve this?
(i) Increase sample sizes
(ii) Reduce control risk
(iii) Assign more experienced staff to the engagement team
A. (i) only
B. (ii) only
C. (i) and (iii)
D. (ii) and (iii)

Page 9 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
29. The auditor of Mondays Ltd is performing a test to ensure that there are no omissions
from the non-current asset register.
In respect of which of the following assertions will this procedure provide audit
evidence?
A. Cut-off
B. Valuation
C. Completeness
D. Existence
E. Classification

30. Which of the following financial statement assertions will be supported by a sample
check on the numberical sequence of despatch notes and invoices?
A. Allocation
B. Occurrence
C. Completeness
D. Valuation

31. What is the objective of external audit of a limited company?

A. To protect the interests of minority shareholders
B. To detect fraud and other irregularities
C. To assess the effectiveness of the company’s performance
D. To provide assurance on the directors’ assertion about the financial statements

32. Who would approve the appointment of a company’s auditor?

A. The statutory authorities
B. The directors
C. The shareholders
D. The company’s bank

33. As an audit team member with two years of experience, you were assigned to carry out
a substantive test on directors’ expenses. The result of the test showed that in several
cases involving the same director, the Chief Financial Officer (CFO) had authorised the
over payment of his expenses. Each expense item was less than the performance
materiality level.

What action should be taken?

A. Draw conclusion
B. Discuss with a senior member of the audit team
C. Extend sample
D. Discuss with the CFO

Page 10 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
34. Talland &Co is the external auditor of Huntley Co, a retailer. The managing partner has
been called to a meeting with the board of directors of Huntley Co. At that meeting the
firm has been asked if it can provide the following non-audit services. Huntley Co plans
to implement a new sales system. The board proposes that Talland & Co takes on a
consultancy project to evaluate several possible systems, advise on which system should
be selected, and oversee the installation of the new system.

Which of the following threats would arise from the above scenario, if the project was
accepted by Talland & Co?
A. Advocacy
B. Familiality
C. Self-review
D. Intimidation

35. Which of the following statement are true with respect to use of analytical procedures
in audits?
(1) They are used at the planning stage
(2) They involve tracing transactions from documentation to accounting records
(3) They are used to provide substantive evidence
(4) They are used to provide evidence of the operation of control

A. (2), (3), (4) only

B. (2) and (4)
C. (1) and (3)
D. (1), (2), and (3) only

Page 11 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
III. TAX (15 questions)
36. Current standard CIT rate is:
A. 27% (applicable from 1 January 2014)
B. 22% (applicable from 1 January 2015)
C. 20% (applicable from 1 January 2016)
D. 23% (applicable from 1 Jannuary 2014)

37. FCT rate for transfer of securities

A. 5% CIT, 3% VAT
B. 2% CIT
C. 0.1% CIT
D. 1% CIT

38. Which is (are) the requirement(s) for PE conditions?

A. A production or business establishment through which a foreign company carries
out part or the whole of business activities in Vietnam and earn income
B. A production or business establishment through which a foreign company carries
out part of business activities in Vietnam and earn income
C. A production or business establishment through which a foreign company carries
out the whole of business activities in Vietnam and earn income
D. A production or business establishment through which a foreign company carries
out part or the whole of business activities in Vietnam and have profit

39. Tax rate applied to non-tax residents

A. Progressive tax rates based on income levels
B. 10% tax rate
C. 20% tax rate for employment income
D. 2% of the sales proceeds

40. Company A is liable to pay value-added tax by the credit method. The added-value
invoice contains the following items:
Selling price: VND 100,000.
VAT (10%): VND 10,000.
Payment price: VND 110,000
What is the turnover for calculating taxable income?
A. VND 110,000
B. VND 100,000
C. VND 111,111
D. VND 90,000

Page 12 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
41. Company A, which is a business organization that pays tax using credit-invoice method,
buys coffee beans from farmers, then sells them to business household H.
VAT shall be levied on:
A. 5% the profit from selling coffee beans to business household H
B. 5% the revenue from selling coffee beans to business household H
C. 10% the revenue from selling coffee beans to business household H
D. 10% the profit from selling coffee beans to business household H

42. Mrs. C earns an income of 40 million VND from wages and remuneration in the month,
and pay 7% of wages for social insurance premium, 1.5% of wages for health insurance
premium. Mrs. C has 2 children under the age of 18, and makes no charitable donations.
The assessable income of Mrs.C is:
A. 29.4 million VND
B. 20.4 million VND
C. 24 million VND
D. 23.8 million VND

43. Non-business unit A leases a house and earns an annual turnover of VND 100 million. It
cannot determine the cost of and income from this activity, so it chooses to declare and
pay enterprise income tax at a percentage of the turnover from the sale of goods and
services as follows:
A. 2 million VND
B. 5 million VND
C. 1 million VND
D. 25.15 million VND

44. When would they determine of VAT/CIT for goods

A. Transfer of ownership
B. Money collection
C. Invoice issuance
D. Others

45. Mr. D directly signs a contract with lottery company X to act as a level I agent of
company X. In 2016, Mr. D receives a total commission of VND 240 million (> VND 100
million). In this case, what is the revenue to calculate tax from lottery agent activities?
A. 100 million VND
B. 240 million VND
C. 140 million VND
D. None of above

Page 13 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
IV. GENERAL (10 questions)
46. The first female Chairman of National Assembly of Vietnam is
A. Nguyen Thi Kim Ngan
B. Tong Thi Phong
C. Truong My Hoa
D. Nguyen Thi Doan

47. Seagame 29 will be hosted in?

A. Vietnam
B. Cambodia
C. Brunei
D. Malaysia

48. Where is the origin of the Zika virus?

A. Brazin
B. Uganda
C. Brunei
D. Mexico

49. How many deputy prime ministers are there in Vietnam?

A. 5
B. 6
C. 7
D. 8

50. How many times did Vietnam participate in FIFA U-20 WorldCup?
A. 0
B. 1
C. 2
D. 3

51. Who is the minister of Industry and Trade in Vietnam?

A. Truong Minh Tuan
B. Vu Huy Hoang
C. Dinh Tien Dung
D. Tran Tuan Anh

Page 14 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
52. When did the Uber enter to the Vietnamese market?
A. 5/2014
B. 6/2014
C. 7/2014
D. 8/2014

53. Which of the following Vietnamese films broke the box office record?
A. Vu em tap su
B. Em chua 18
C. Ve si Sai Gon
D. Bui doi cho lon

54. Who is the winner at The Voice Vietnam 2017:

A. Dao Tin
B. Ali Hoang Duong
C. Mai Anh
D. Milana

55. TPP signed at

A. Rusia
B. Japan
C. New Zealand
D. Canada

Page 15 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
V. IQ (5 Questions)
56. The numbers in the grid to together in a certain way.
Which number should be in the square marked by the question mark?
35 30 27
31 26 23
28 23 ?

A. 19
B. 20
C. 21
D. 22

57. 27, 24, 30, 27, 33, …

A. 48
B. 27
C. 30
D. 24

58. The present age of Ram is 20 years and of his father is 40 years. How many years ago
the age of his father was three times of his age?
A. 10 years
B. 8 years
C. 6 years
D. 4 years

59. Which is the difference againts others?

J, E, O, A
A. J
B. E
C. O
D. A
E.
60. Three friends had dinner at a restaurant. When the bill was received, Amita paid 2/3 as
much as Veena paid, and Veena paid 1/3 as much as Tanya paid. What fraction of the
bill did Veena pay?
A. 1/3
B. 3/11
C. 3/14
D. 5/8

Page 16 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
VI. ESSAY
More and more people decide to have children later in their life nowadays. By an
essay of at least 250 words, discuss the reasons and effects on society and family life.

Page 17 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

ANSWER SHEET
Full name:
Test:
Mark:
Class code:
Total questions: 60 MCQs + 1 essay
Time: 90 minutes

A B C D A B C D A B C D
1     21     41    
2     22     42    
3     23     43    
4     24     44    
5     25     45    
6     26     46    
7     27     47    
8     28     48    
9     29     49    
10     30     50    
11     31     51    
12     32     52    
13     33     53    
14     34     54    
15     35     55    
16     36     56    
17     37     57    
18     38     58    
19     39     59    
20     40     60    

Page 18 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

Essay:
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................
.......................................................................................................................................................

Page 19 of 19
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
EY ENTRANCE TEST
Full name:
Test:
Total question: 60 MCQs + 1 essay
Time: 90 minutes

I. ACCOUNTING (20 questions)

1. The IASB’s Conceptual Framework for Financial Reporting identifies characteristics which
make financial information faithfully represent what it purports to represent.
Which of the following are examples of those characteristics?
(i) Accruals
(ii) Completeness
(iii) Going concern
(iv) Neutrality

A. i and ii
B. ii and iv
C. ii and iii
D. i and iv

2. The following bank reconciliation statement has been prepared by a trainee accountant:
$
Overdraft per bank statement 3,860
Less: Unpresented cheques 9,160
5,300
Add: Outstanding lodgements 16,690
Cash at bank 21,990

What should be the correct balance per the cash book?

A. $21,990 balance at bank as stated
B. $3,670 balance at bank
C. $11,390 balance at bank
D. $3,670 overdrawn

Page 1 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
3. Gareth, a sales tax registered trader purchased a computer for use in his business. The
invoice for the computer showed the following costs related to the purchase:
$
Computer 890
Additional memory 95
Delivery 10
Installation 20
Maintenance (1 year) 25
1,040
Sales tax (17.5%) 182
Total 1,222

How much should Gareth capitalise as a non-current asset in relation to the purchase?
A. $1,193
B. $1,040
C. $1,222
D. $1,015

4. Prior to the financial year end of 31 July 20X7, Cannon Co has received a claim of $100,000
from a supplier for providing poor quality goods which have damaged the supplier’s plant
and equipment. Cannon Co’s lawyers have stated that there is a 20% chance that Cannon
will successfully defend the claim.
Which of the following is the correct accounting treatment for the claim in the financial
statements for the year ended 31 July 20X7?
A. Cannon should neither provide for nor disclose the claim
B. Cannon should disclose a contingent liability of $100,000
C. Cannon should provide for the expected cost of the claim of $100,000
D. Cannon should provide for an expected cost of $20,000

Page 2 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
5. Q’s trial balance failed to agree and a suspense account was opened for the difference. Q
does not keep receivables and payables control accounts. The following errors were found
in Q’s accounting records:
(i) In recording an issue of shares at par, cash received of $333,000 was credited to the
ordinary share capital account as $330,000
(ii) Cash of $2,800 paid for plant repairs was correctly accounted for in the cash book but
was credited to the plant asset account
(iii) The petty cash book balance of $500 had been omitted from the trial balance
(iv) A cheque for $78,400 paid for the purchase of a motor car was debited to the motor
vehicles account as $87,400.
Which of the errors will require an entry to the suspense account to correct them?
A. i, ii and iv only
B. i, ii, iii and iv
C. i and iv only
D. ii and iii only

6. Which of the following statements about sales tax is/are true?

(i) Sales tax is an expense to the ultimate consumer of the goods purchased
(ii) Sales tax is recorded as income in the accounts of the entity selling the goods
A. i only
B. ii only
C. Both i and ii
D. Neither i nor ii

7. The following extracts are from Hassan’s financial statements:

$
Profit before interest and tax 10,200
Interest (1,600)
Tax (3,300)
Profit after tax 5,300
Share capital 20,000
Reserves 15,600
35,600
Loan liabilities 6,900
42,500
What is Hassan’s return on capital employed?
A. 15%
B. 29%
C. 24%
D. 12%

Page 3 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
8. The plant and machinery account (at cost) of a business for the year ended 31 December
20X6 was as follows:
Plant and machinery - cost
20X6 $ 20X6 $
01 Jan Balance b/f 240,000 31 Mar Transfer to 60,000
disposal account
30 Jun Cash purchase of 160,000 31 Dec Balance b/f 340,000
plant
400,000 400,000

The company’s policy is to charge depreciation at 20% per year on the straight line basis,
with proportionate depreciation in the years of purchase and disposal.
What should be the depreciation charge for the year ended 31 December 20X6?
A. $68,000
B. $64,000
C. $61,000
D. $55,000

9. Which of the following should appear in a company’s statement of changes in equity?

(i) Total comprehensive income for the year
(ii) Amortisation of capitalised development costs
(iii) Surplus on revaluation of non-current assets
A. i, ii and iii
B. ii and iii only
C. i and iii only
D. i and ii only

10. At 31 December 20X5 a company’s capital structure was as follows:

$
Ordinary share capital 125,000
(500,000 shares of 25c each)
Share premium account 100,000

In the year ended 31 December 20X6 the company made a rights issue of 1 share for every
2 held at $1 per share and this was taken up in full. Later in the year the company made a
bonus issue of 1 share for every 5 held, using the share premium account for the purpose.
What was the company’s capital structure at 31 December 20X6?
Ordinary share capital Share premium account
A. $450,000 $25,000
B. $225,000 $250,000
C. $225,000 $325,500
D. $212,500 $262,500

Page 4 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

11. Bumbly Co extracted the trial balance for the year ended 31 December 20X6. The total of
the debits exceeded the credits by $300.
Which of the following could explain the imbalance?
A. Sales of $300 were omitted from the sales day book
B. Returns inward of $150 were extracted to the debit column of the trial balance
C. Discounts received of $150 were extracted to the debit column of the trial balance
D. The bank ledger account did not agree with the bank statement by a debit of $300

12. Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January
20X6. During the year ended 31 December 20X6 she paid $65,000 capital into the business
and she paid herself wages of $800 per month.
At 31 December 20X8, Amy had assets of $614,130 and liabilities of $369,770.
What is Amy’s profit for the year ended 31 December 20X6?
A. $32,400
B. $23,600
C. $22,800
D. $87,800

13. A company values its inventory using the FIFO method. At 1 May 20X6 the company had
700 engines in inventory, valued at $190 each. During the year ended 30 April 20X7 the
following transactions took place:
20X6
1 July Purchased 500 engines at $220 each
1 November Sold 400 engines for $160,000
20X7
1 February Purchased 300 engines at $230 each
15 April Sold 250 engines for $125,000

What is the value of the company’s closing inventory of engines at 30 April 20X7?
A. $188,500
B. $195,500
C. $166,000
D. $106,000

Page 5 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
14. Which of the following material events after the reporting date and before the financial
statements are approved are adjusting events?
(i) A valuation of property providing evidence of impairment in value at the reporting
date.
(ii) Sale of inventory held at the reporting date for less than cost.
(iii) Discovery of fraud or error affecting the financial statements.
(iv) The insolvency of a customer with a debt owing at the reporting date which is still
outstanding.
A. i, ii and iv only
B. i, ii, iii and iv
C. i and iv only
D. ii and iii only

15. The following control account has been prepared by a trainee accountant:
Receivables ledger control account
$ $
Opening balance 308,600 Cash 147,200
Credit sales 154,200 Discounts allowed 1,400
Cash sales 88,100 Interest charged on overdue 2,400
accounts
Contras 4,600 Irrecoverable debts 4,900
Allowance for receivables 2,800
Closing balance 396,800
Total 555,500 555,500

What should the closing balance be when all the errors made in preparing the receivables
ledger control account have been corrected?
A. $395,200
B. $304,300
C. $309,500
D. $307,100

Page 6 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
16. Plym plc is a retailer which is registered for VAT. All sales, and all purchases of goods for
resale, attract VAT at the rate of 20%. For the year to 30 June 20X7, Plym plc paid £69,600
to suppliers in respect of goods for resale, and showed revenue in the statement of profit or
loss of £89,400. There was no change in the figures for inventory and trade payables in the
statements of financial position as at 30 June 20X6 and 20X7.
What was Plym plc's gross profit for the year ended 30 June 20X7?
A. £19,800
B. £4,900
C. £31,400
D. £16,500

17. Hywel plc's trial balance includes a total for all the receivables ledger accounts as listed out
at the year end. The receivables ledger is part of the double entry system. The trial balance
fails to agree and a suspense account is opened. The difference is due to the following
errors in Hywel plc's ledger accounts:
(i) The balance on Markham plc's receivables ledger account is £9,890. This is incorrectly
recorded in the trial balance as £9,980
(ii) A discount allowed to Umberto of £33 was debited to his receivables ledger account
(iii) The sales account is overcast by £110. Three journals are drafted to correct these
errors.
Together these journals should:
A. Credit the suspense account with £110
B. Debit the suspense account with £86
C. Credit the suspense account with £46
D. Debit the suspense account with £46

18. Peri's bookkeeper made the following mistakes:

(i) Discount allowed £3,840 was credited to discounts received account.
(ii) Discount received £2,960 was debited to discounts allowed account.
(iii) Discounts were otherwise correctly recorded.
Which of the following journal entries will correct the errors?
A. Debit Discount allowed £7,680, Credit Discount received £5,920, Credit Suspense
account £1,760.
B. Debit Discount allowed £880, Credit Discount received £880, Credit Suspense account
£1,760.
C. Debit Discount allowed £6,800, Credit Discount received £6,800.
D. Debit Discount allowed £3,840, Credit Discount received £2,960, Credit Suspense
account £880.

Page 7 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
19. According to IAS 1 Presentation of Financial Statements, compliance with International
Accounting Standards and International Financial Reporting Standards will normally ensure
that:
A. The entity’s inventory is valued at net realisable value
B. The entity’s assets are valued at their break-up value
C. The entity’s financial statements are prepared on the assumption that it is a going
concern
D. The entity’s financial position, financial performance and cash flows are presented fairly

20. Which of the following definitions for the 'going concern' concept in accounting is the most
accurate in thelight of IAS 1 Presentation of Financial Statements?
A. The directors do not intend to liquidate the entity or to cease trading in the foreseeable
future
B. The entity is able to pay its debts as and when they fall due
C. The directors expect the entity’s assets to yield future economic benefits
D. Financial statements have been prepared on the assumption that the entity is solvent
and would be able to pay all creditors in full in the event of being wound up.

Page 8 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
II. AUDITING (10 questions)
21. What is audit risk?
A. Can be completely eliminated through appropriate sampling of transactions.
B. Is the risk that a "clean" opinion will be issued when, in reality, the financial statements
are materially misstated.
C. Is what creates the demand for an audit.
D. Is the risk that a company may hire an incompetent auditor.

22. Which of the following audit phases would generally be conducted before all of the others
listed below?
A. Auditing business processes and related accounts.
B. Evaluation of audit evidence.
C. Gaining an understanding of the client's industry.
D. Consideration of internal control systems.

23. An auditor's evaluation of the reasonableness of a client's loan loss reserve would normally
be made during which phase of the audit?
A. Gaining an understanding of the client's industry.
B. Client acceptance/pre-planning.
C. Consideration of internal control systems.
D. Auditing business processes and related accounts.

24. What is the essential meaning of the generally accepted auditing standard that requires
that the auditor be independent?
A. The auditor must be without bias with respect to the client under audit.
B. The auditor must adopt a critical attitude during the audit.
C. The auditor's sole obligation is to third parties.
D. The auditor may have a direct ownership interest in his client's business if it is not
material.

25. The responsibility for implementing sound accounting practices and principles, maintaining
an adequate internal control structure, and making fair representations in the financial
statements rests primarily with the:
A. Senior management
B. External auditors
C. Internal audit department
D. Shareholders

Page 9 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
26. Which of the following best describes the fiduciary relationship between management and
the board of directors?
A. Management reports to the board of directors.
B. The board of director reports to management.
C. Neither group is accountable to the other.
D. Both groups report directly to the shareholders.

27. The existence of audit risk is recognized by the statement in the auditor's standard report
that the:
A. Auditor obtains reasonable assurance about whether the financial statements are free
of material misstatements.
B. Auditor is responsible for expressing an opinion on the financial statements, which are
the responsibility of management.
C. Financial statements are presented fairly, in all material respects, in conformity with
VAS.
D. Audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements.

28. Which of the following factors would an auditor least likely consider when assessing the
inherent risk associated with client sales transactions?
A. Billings are made using the percentage-of-completion method of revenue recognition.
B. The nature of the credit authorization process.
C. Some invoices are normally billed prior to shipments [which occur at a later date].
D. The conditions of the sale allow for a right of return or the right to modify the purchase
agreement.

29. The risk that an auditor's procedures will lead to a conclusion that a material misstatement
in an account balance does not exist, when in fact a misstatement did occur, is known as:
A. Audit risk
B. Detection risk
C. Inherent risk
D. Business risk

30. Which of the following factors is least likely to represent an opportunity to commit fraud?
A. The audit committee is ineffective.
B. Poor internal controls over cash transactions
C. The existence of highly complex transactions
D. Operating losses make a hostile takeover imminent.

Page 10 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
III. TAX (10 questions)
31. On 1 July 2012, NLAM Co leased an asset for four years and paid the whole rent of VND600
million in advance. On 1 July 2014, NLAM Co decided to shorten the lease period to three
years. The company expects that it will have to pay a penalty of VND60 million when it
terminates the lease in 2015 in order to receive a refund of one year of the original lease
payment.
What is the deductible expense for NLAM Co with regard to the lease in the year ended 31
December 2014?
A. VND150 million
B. VND75 million
C. VND165 million
D. VND170 million

32. NEI Co, a foreign contractor, entered into a contract with PVN, a Vietnamese company, to
supply services in relation to oil exploration. NEI Co wants to apply the deduction method
for the declaration of value added tax (VAT) in Vietnam. In November 2014 when the tax
code application was still in progress, NEI Co incurred input VAT of USD15,000 for its
operations in Vietnam. Also during that time, PVN made a progress payment to NEI Co of
USD200,000 (net of VAT at 10%) for the services. In December 2014 when the tax code was
available, NEI Co incurred a further USD28,000 input VAT for its operations in Vietnam.
What is the amount of NEI Co’s deductible input value added tax (VAT) in 2014?
A. USD63,000
B. USD28,000
C. USD35,000
D. USD15,000

33. RETRA Co, a company specialising in developing real estate projects, has an apartment and
villa development project in the centre of Hanoi, which is expected to be completed in
2018. The estimated total revenue and profits from this project are VND2,000 billion and
VND300 billion, respectively. RETRA Co has been collecting money in advance from
customers and in 2014 the total proceeds received were VND200 billion, on which
provisional tax of 1% was duly paid on receipt.
What is the taxable income from the project of RETRA Co for the purposes of its 2014
corporate income tax (CIT) finalisation return?
A. VND0 billion
B. VND30 billion
C. VND200 billion
D. VND300 billion

Page 11 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
34. Mr Tomaz is a Hong Kong citizen and tax resident. He arrived in Vietnam to work on 21 April
2014 and on completion of his employment contract, he left Vietnam on 31 October 2015.
In the years 2014 and 2015, he spent the following numbers of days in Vietnam:
– From 21 April to 31 December 2014 – 130 days
– From 1 January to 20 April 2015 – 64 days
– From 21 April to 31 October 2015 – 110 days
Based solely on the above information, what is Mr Tomaz’s tax residency status in his first
and second tax year in Vietnam?
First year Second year
A Resident Resident
B Resident Non-resident
C Non-resident Resident
D Non-resident Non-resident

35. In 2014, SPTF Co incurred losses of VND10 billion from incentive activities which were
subject to a tax rate of 10%, made gains from the transferring of real estate of VND3 billion
and had other income of VND8 billion.
What is the minimum tax liability of SPTF Co in 2014?
A. VND2,420 million
B. VND220 million
C. VND660 million
D. VND0 million

36. SWR Co, a Vietnamese company, has three separate sales outlets. In December 2014, each
of the outlets issued an invoice for the sale of one ton of construction materials to three
separate customers as follows. The sale of construction materials is subject to value added
tax (VAT) at the rate of 10%.
– Invoice 1: selling price VND20 million, VAT VND2 million
– Invoice 2: selling price VND22 million, no VAT as the selling price is inclusive
– Invoice 3: selling price VND20 million, no VAT because the construction materials were
given to the customer for free as part of a promotion which has been registered with
the authorities
What is the output value added tax (VAT) which SWR Co should have declared in December
2014, if no amendments were made to the invoices?
A. VND4 million
B. VND2 million
C. VND4.2 million
D. VND6.2 million

Page 12 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
37. Ms Hoai Pham has two dependants. In 2014, her monthly gross salary was VND50 million
and she was responsible for paying 8% social insurance and 1·5% health insurance.
What is Ms Hoai Pham’s monthly tax liability (to the nearest VND10,000)?
A. VND4.16 million
B. VND4.67 million
C. VND6.26 million
D. VND5.20 million

38. Mr Ho is a tax resident in Vietnam. In 2014 he received income from Country X, on which
Country X had imposed personal income tax at its domestic rates. Mr Ho is not a resident in
Country X.
Which of the following statements correctly describes Mr Ho’s entitlement to a tax credit in
Vietnam for the tax imposed by County X?
A. No tax credit can be claimed in Vietnam
B. A tax credit can be claimed in Vietnam only if Country X has a double tax avoidance
agreement (DTAA) with Vietnam
C. A tax credit can be claimed in Vietnam even if Country X does not have a DTAA with
Vietnam, but only up to the amount of personal income tax payable under the
Vietnamese tax regulations on the income
D. A tax credit can be claimed in Vietnam for the full amount of the overseas tax without
any conditions or restrictions

39. HNKV Co is a one-member limited liability company, which is wholly own by HKV, a
company incorporated in Bermuda. In 2014, HKV decided to convert HNKV Co into a joint
stock company by selling the shares of HNKV Co to two local Vietnamese entities. The sale
of the shares and the conversion of the company was completed in August 2014. Which
combination of the following statements correctly describes the reporting requirements for
capital gains tax and corporate income tax (CIT) finalisation under the current regulations?
(i) HNKV Co is required to file a capital gains tax declaration
(ii) The buyers are required to file a capital gains tax declaration
(iii) HNKV Co is required to file a CIT finalisation return at the time of conversion and at the
year end
(iv) HNKV Co is required to file a CIT finalisation return at the year end only
A. i and iii
B. i and iv
C. ii and iii
D. ii and iv

Page 13 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
40. Mr Gambl is a Canadian and non-resident in Vietnam. On 1 December 2014, during his
vacation trip to Vietnam, he visited PHT, a casino for expatriates in Vietnam. He cashed in
(i.e. exchanged cash for chips) USD600 at the beginning, and cashed out (i.e. exchanged
chips for cash) USD500 on each of three separate occasions with his winnings.
What is Mr Gambl’s tax liability in Vietnam as a result of these transactions?
A. VND 935,000
B. VND 1,935,000
C. VND 2,225,000
D. VND 3,225,000

Page 14 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
IV. GENERAL KNOWLEDGE (10 Questions)
41. Which national football team was the champion of EURO 2016?
A. England
B. Portugal
C. Germany
D. Spain

42. What is the name of EY’s CEO in Vietnam?

A. Ha Thu Thanh
B. Warrick Cleine
C. Tran Dinh Cuong
D. Tran Van Minh

43. Who is the Governor of State Bank of Vietnam (SBV)?

A. Nguyen Van Binh
B. Le Minh Hung
C. Nguyen Van Giau
D. Le Duc Thuy

44. How many floors does Keangnam Hanoi Landmark Tower have?
A. 90
B. 72
C. 46
D. 16

45. How many countries are in European Union (EU) in August 2017?
A. 25
B. 26
C. 27
D. 28

46. Which movie is dominated for Best Picture for Oscar 2017?
A. Moonlight
B. La La Land
C. The Salesman
D. Manchester of the Sea

Page 15 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
47. Who is the author of “Diary of a Cricket”?
A. To Hoai
B. Nguyen Nhat Anh
C. Nam Cao
D. Nguyen Tuan

48. Donald Trump is the … President of United States

A. 43th
B. 44th
C. 45th
D. 46th

49. Who is The Chairperson of the National Assembly of Vietnam?

A. Nguyen Sinh Hung
B. Do Ba Ty
C. Nguyen Van Giau
D. Nguyen Thi Kim Ngan

50. What does SHB stand for?

A. Shinhan Bank
B. Saigon-Hanoi Bank
C. Standard Heartstone Bank
D. Southern Hanoi Bank

Page 16 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
V. IQ (10 questions)
51. Which number should come next in this series? 3, 5, 8, 13, 21, ...

Answer: ________

52. Which number should replace the question mark?

8 5 21
35 32 12
32 28 31
4 ? 28

Answer: ________

53. Fill in the blank in the middle of the series. P5QR, P4QS, P3QT, ...., P1QV

Answer: ________

54. Currently Mark Zuckerberg is 31 years old, 9 more years his age doubles his sister’s
currently. So how old is Mark’s sister?

Answer: ________

55. If EGGFHGHE is 97786769 then HEFGGHFE is:

Answer: ________

56. Today Erik goes to market for the first time, his mother told him to buy a few PEARS giving
$23. How many PEARS can Erik buy maximum with the given money? Knowing that:
- Apple + Apple + Pear + Peach = $23
- Peach + Apple + Orange + Apple = $22
- Apple + Orange + Apple + Apple = $16
- Apple + Apple + Apple + Apple = $12
Answer: ________

57. 12593 is to 35291

And 29684 is to 46982
Therefore 72936 is to ?
Answer: ________

Page 17 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
58. Which number is the odd one out?
84129, 32418, 47632, 36119, 67626, 72927
Answer: ________

59. A Z B Y D W G T ? ?

Which two letters come next? Answer: ________

60. How many cases do you need if you have to pack 112 pairs of shoes into cases that each
hold 28 shoes?

Answer: ________

Page 18 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
VI. ESSAY (250 words)
Parents often give children everything they ask for and do what they like. Is it good for
children? What are the consequences when they grow up?

Page 19 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

ANSWER SHEET
Full name:
Test:
Mark:
Class code:
Total questions: 60 MCQs + 1 essay
Time: 90 minutes

A B C D A B C D A B C D
1     21     41    
2     22     42    
3     23     43    
4     24     44    
5     25     45    
6     26     46    
7     27     47    
8     28     48    
9     29     49    
10     30     50    
11     31     51 
12     32     52 
13     33     53 
14     34     54 
15     35     55 
16     36     56 
17     37     57 
18     38     58 
19     39     59 
20     40     60 

Page 20 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
Essay:
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................
.................................................................................................................................................

Page 21 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
KPMG ENTRANCE TEST
Full name:
Test:
Total question: 35 MCQs
Time: 30 minutes

I. ACCOUNTING (10 questions)

1. A company receives rent from a large number of properties. The total received in the year
ended 30 April 20X7 was $481,200. The following were the amounts of rent in advance
and in arrears at 30 April 20X6 and 20X7:
30 April 20X6 30 April 20X7
$ $
Rent received in advance 28,700 31,200
Rent in arrears (all subsequently received) 21,200 18,400

What amount of rental income should appear in the company’s statement of profit or loss
for the year ended 30 April 20X7?
A. $486,500
B. $460,900
C. $501,500
D. $475,900

2. Which of the following statements is/are correct?

(i) A statement of cash flows prepared using the direct method produces a different
figure to net cash from operating activities from that produced if the indirect method
is used
(ii) Rights issues of shares do not feature in a statement of cash flows
(iii) A surplus on revaluation of a non-current asset will not appear as an item in a
statement of cash flows
(iv) A profit on the sale of a non-current asset will appear as an item under cash flows
from investing activities in the statement of cash flows.
A. i and iii only
B. iii and iv only
C. ii and iv only
D. iii only

Page 1 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
3. Xena has the following working capital ratios:
20X7 20X6
Current ratio 1.2:1 1.5:1
Receivable days 75 days 50 days
Payable days 30 days 45 days
Inventory turnover 42 days 35 days

Which of the following statements is correct?

A. Xena’s liquidity and working capital has improved in 20X7
B. Xena is receiving cash from customers more quickly in 20X7 than in 20X6
C. Xena is suffering from a worsening liquidity position in 20X7
D. Xena is taking longer to pay suppliers in 20X7 than in 20X6

4. A company’s statement of profit or loss for the year ended 31 December 20X6 showed a
net profit of $83,600. It was later found that $18,000 paid for the purchase of a motor van
had been debited to the motor expenses account. It is the company’s policy to depreciate
motor vans at 25% per year on the straight-line basis, with a full year’s charge in the year
of acquisition.

What would the net profit be after adjusting for this error?
A. $106,100
B. $70,100
C. $97,100
D. $101,600

5. At 31 December 20X6 the following require inclusion in a company’s financial statements:

(i) On 1 January 20X6 the company made a loan of $12,000 to an employee, repayable
on 1 January 20X6, charging interest at 2% per year. On the due date, she repaid the
loan and paid the whole of the interest due on the loan to that date.
(ii) The company paid an annual insurance premium of $9,000 in 20X6, covering the year
ending 31 August 20X7.
(iii) In January 20X7 the company received rent from a tenant of $4,000 covering the six
months to 31 December 20X6.

For these items, what total figures should be included in the company’s statement of
financial position as at 31 December 20X6?

A. Current assets $10,000 Current liabilities $12,240

B. Current assets $22,240 Current liabilities $ nil
C. Current assets $10,240 Current liabilities $ nil
D. Current assets $16,240 Current liabilities $ 6,000

Page 2 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
6. Which TWO of the following errors would cause the total of the debit column and the total
of the credit column of a trial balance not to agree?
(i) A transposition error was made when entering a sales invoice into the sales day book
(ii) A cheque received from a customer was credited to cash and correctly recognised in
receivables
(iii) A purchase of non-current assets was omitted from the accounting records
(iv) Rent received was included in the trial balance as a debit balance
A. i and ii
B. i and iii
C. ii and iii
D. ii and iv

7. Annie is a sole trader who does not keep full accounting records. The following details
relate to her transactions with credit customers and suppliers for the year ended 30 June
20X7:
$
Trade receivables, 1 July 20X6 130,000
Trade payables, 1 July 20X6 60,000
Cash received from customers 686,400
Cash paid to suppliers 302,800
Discounts allowed 1,400
Discounts received 2,960
Contra between payables and receivables ledgers 2,000
Trade receivables, 30 June 20X7 181,000
Trade payables, 30 June 20X7 84,000

What figure should appear for purchases in Annie’s statement of profit or loss for the year
ended 30 June 20X7?
A. $325,840
B. $330,200
C. $331,760
D. $327,760

8. Which of the following statements are TRUE of limited liability companies?

(i) The company’s exposure to debts and liability is limited
(ii) Financial statements must be produced
(iii) A company continues to exist regardless of the identity of its owners
A. i and ii only
B. i and iii only
C. ii and iii only
D. i, ii and iii

Page 3 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
9. Which of the following explains the imprest system of operating petty cash?
A. Weekly expenditure cannot exceed a set amount
B. The exact amount of expenditure is reimbursed at intervals to maintain a fixed float
C. All expenditure out of the petty cash must be properly authorised
D. Regular equal amounts of cash are transferred into petty cash at intervals

10. Which of the following calculates a sole trader’s net profit for a period?
A. Closing net assets + drawings – capital introduced – opening net assets
B. Closing net assets – drawings + capital introduced – opening net assets
C. Closing net assets – drawings – capital introduced – opening net assets
D. Closing net assets + drawings + capital introduced – opening net assets

Page 4 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
II. AUDITING (10 questions)
11. Independent auditing can best be described as:
A. A branch of accounting
B. A discipline that provides assurance regarding the results of accounting and other
functional operations and data
C. A professional activity that measures and communicates financial and business data
D. A regulatory function that prevents the issuance of improper financial information

12. Which of the following best describes the primary reason an independent auditor reports
on financial statements?
A. To give stockholders some assurance that any fraudulent activities will be detected.
B. To identify a poorly designed internal control structure that may produce unreliable
financial statements.
C. To provide expertise to clients, which may not be totally knowledgeable of prevailing
VAS.
D. To add credibility where appropriate, since the client may not be perceived as
objective with respect to its own financial statements.

13. The fact that errors and/or omissions in certain relatively insignificant account balances
would not affect an auditor's decision when reporting on the financial statements as a
whole relates most closely to which major audit concept?
A. Materiality
B. Audit risk
C. Management assertions
D. Reasonable assurance

14. Audit evidence:

A. May only be gathered from parties, which are external to the client to be reliable.
B. May only be gathered from the client to be reliable since the client is the most
knowledgeable source of information.
C. May only be gathered from computerized sources to avoid human error.
D. Can be gathered from many sources and is not limited to the underlying accounting
data.

15. The most favorable type of audit report opinion for the client to receive is:
A. Qualified
B. Unqualified
C. Full assurance
D. Exceptional

16. The study and practice of auditing is unlike other areas in accounting because it:
A. Requires the memorization of formulas and patterns.
B. Requires the knowledge of GAAP.
C. Requires common sense and some creativity.
D. Is required by law for all companies in the United States.

Page 5 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
17. Which of the following management assertions is generally of greatest importance in the
audit of inventory?
A. Existence
B. Completeness
C. Rights and Obligations
D. Presentation and Disclosure

18. To exercise due professional care, an auditor should:

A. Attain the proper balance of professional experience and formal education.
B. Critically review the work performed and judgment exercised by those assisting in the
audit.
C. Examine all available corroborating evidence supporting management's assertions.
D. Design the audit to detect all instances of illegal acts.

19. Which of the following statements best describes an auditor’s responsibility to detect
errors, fraud and illegal acts?
A. The auditor should study and evaluate the client's internal control system and design
the audit to provide reasonable assurance of detecting all errors and fraud.
B. The auditor should consider the types of errors and fraud that could occur and
determine whether the necessary internal controls are prescribed and are being
followed.
C. The auditor should assess the risk that errors and fraud may cause the financial
statements to contain material misstatements and design the audit to provide
reasonable assurance of detecting material errors and fraud.
D. The auditor should assess the risk that errors and fraud may cause the financial
statements to contain material misstatements and determine whether the necessary
internal controls are prescribed and are being followed satisfactorily.

20. The concept of materiality as it applies to a financial statement audit:

A. Relates primarily to the audit fees involved.
B. Generally, involves less professional judgment for public companies.
C. Is determined, in part, based on how financial statement users may be influenced in
making decisions.
D. Relates primarily to the quantity of audit procedures performed.

Page 6 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
III. TAX (10 questions)
21. On 1 January 2014, company CRS Co purchased a 16-seat car for VND 2,640 million
(including value added tax (VAT)) with proper invoices. The car will be depreciated for five
years.

What is the amount of the adjustment for non-deductible expenses, which CRS Co should
make for the car in its tax return for the year 2014?
A. VND0 million
B. VND208 million
C. VND320 million
D. VND528 million

22. Which of the following items of income would NOT be subject to personal income tax in
Vietnam?
(i) Medical support for fatal disease from the employer to the parent-in-law of an
employee
(ii) One-time home leave air fares for the family of an expatriate employee
(iii) Kindergarten tuition fees for the children of a Vietnamese employee working abroad
(iv) Voucher issued by the employer to an employee for lunches in the canteen operated
by the employer
A. i, ii and iii
B. ii, iii and iv
C. i, ii and iv
D. i, iii and iv

23. At the end of 2014, company, BND Co, paid bonuses to its board of directors of VND3,000
million. Each of the five directors is paid an equal amount of bonus. Two out of the five
directors are not involved in the daily management of the company’s business.

What is the amount of tax-deductible expenses which BND Co will be able to claim for the
year 2014?
A. VND3,000 million
B. VND1,200 million
C. VND1,800 million
D. VND0 million

Page 7 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
24. Which of the following transactions would be subject to foreign contractor tax (FCT) in
Vietnam?
(i) Repair of a Vietnamese internet cable offshore
(ii) Online training for the employees of a Vietnamese company where the server is
hosted overseas
(iii) An intermediary arrangement for a Vietnamese company to provide services in
Singapore
(iv) Granting of rights to a Vietnamese company to use the international brand name of a
world-famous product in Vietnam
A. i and ii
B. ii and iv
C. i and iii
D. iii and iv
25. In 2012, company CTC Co contributed capital of VND500 million to Company Z. In 2014,
CTC Co transferred 60% of the capital it held in Company Z to a foreign company for
VND450 million. At that time, the retained earnings of Company Z were VND5 million. CTC
Co incurred transfer expenses of VND10 million.
What is the taxable income/(loss) of CTC Co from the transfer?
A. VND50 million (loss)
B. VND140 million
C. VND145 million
D. VND147 million

26. Ms Nga Le is a Vietnamese national with no dependants. On 1 January 2014, she signed a
gross employment contract with salary of VND260 million per month. Her employer is not
required to withhold compulsory insurance from her income.

What is the amount of Ms Nga Le’s monthly net take home income?
A. VND 81.15 million
B. VND 78 million
C. VND 178.85 million
D. VND 182 million

27. TDP Co, a Vietnamese company applying the value added tax (VAT) deduction method,
provided services to a foreign customer for VND200 million and charged VAT at 5% on the
invoice. In a tax review by a consultant, it was identified that the VAT rate used on the
invoice should have been 10%, however, TDP Co can no longer claim back the
undercharged VAT from the foreign customer.

What is the amount of additional output VAT which TDP Co will need to pay to the tax
authorities (rounded to the nearest VND million)?
A. VND 9 million
B. VND 10 million
C. VND 11 million
D. VND 20 million

Page 8 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

28. On 1 April 2017, Mr Chau, a Vietnamese national, started employment with a new
employer, CTD Co. CTD Co has a policy whereby both the employer and the employee
contribute to a voluntary pension fund approved by the Government. The monthly
contributions for the employer and the employee, respectively, are VND4·5 million and
VND2 million.

What is the amount of the deduction Mr Chau can claim against his taxable income for the
above contributions in 2014?
A. VND9 million
B. VND78 million
C. VND24 million
D. VND18 million

29. Which of the following statements are correct?

(i) The Vietnamese language shall be the official language used in all tax-related
documents to be submitted to the tax authorities
(ii) Documents in a foreign language must be translated into Vietnamese. All translations
must be performed or certified by an authorised public notary
(iii) Where the documents in a foreign language are more than 20 pages (of A4 size) long,
the taxpayer is allowed to translate only the key provisions relating to the
determination of the tax obligations (plus a written explanation to the tax authorities)

A. i only
B. ii and iii only
C. i and iii only
D. i, ii and iii

30. In 2017, company DMS Co purchased materials from suppliers who are households doing
business. DMS Co wanted to use the list of goods purchased (without invoices) to claim tax
deductible expenses for these purchases.

What is the threshold of annual revenue which households doing business must satisfy for
DMS Co to use the list of goods purchased method to claim for the purchases as a
deductible expense?
A. VND300 million
B. VND200 million
C. VND100 million
D. VND50 million

Page 9 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
IV. NUMERICAL REASONING AND SITUATIONAL JUDGEMENT (5 questions)
31. You are working as a graduate trainee in a large bank. Whilst undertaking your placement
with the customer service team, you take a call from an upset client. He is claiming that he
was expecting a refund on some banking fees he was wrongly charged for but he has not
received them. He explains that a colleague of yours promised reund would be in his
account today but the money has not arrived yet. He is getting more upset and is raising
his voice to you. What would you say to him?
A. “I will do all I can to help you with this issue. If you give me your account details I will
investigate what has happened here.”
B. “Let me check with the colleague you mentioned about what the situation is. If you
can hold for a couple of minutes I will speak to them and will be back with you in no
time.”
C. “Sir, I can hear that you are really upset but I need you to calm down so that I can
help you.”
D. “I am sure there is a logical explanation for thi. If you give me your details I will look
into it for you.”

32. You are working as a graduate trainee in an electronics company and are currently part of
an international project team looking at new routes to market. During a conference call,
you are finding it difficult to understand what one of your colleagues is saying. She is a
graduate trainee like you. You have met her a few times during a couple of conferences
you both attended, and you got on well. Her accent is very strong and she has a tendency
to speak very quickly when she is nervous. She is one of a number of people dialling in
from outside of the UK. You are in a meeting room with the project lead and a couple of
other colleagues. You can see that yours colleagues are also finding it difficult to
understand her. What would you do?
A. “When your colleague is no longer speaking, send her an instant message explaining
that she may benefit from slowing down a little as there are a few people who are
finding it difficult to understand her in the room where you are.”
B. “After the call acknowledge yours concerns to the others in the room and suggest that
you all compare notes to make sure you have a shared understanding of what she was
actually saying.”
C. “Mention your concerns to the project lead after the call, offering to speak to your
colleague if the project lead would like you to, explaining that you have a working
relationship with her.”
D. “Call your colleague afterwards to ask how she is finding the project and tactfully
mention that at times you found it difficult to understand what she was saying,
politely suggesting that just slowing down a little would help.”

Page 10 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
33. In year 3, how much more than Italy did Germany spend on computer imports?

A. 650 million
B. 700 million
C. 750 million
D. 800 million
E. 850 million

34. If the amount spent on computer imports into the United Kingdom in Year 5 was 20%
lower than in Year 4, what was spent in Year 5?
A. 1,080
B. 1,120
C. 1,160
D. 1,220
E. 1,300

35. Which number should replace the question mark?

17 8 5 5
13 7 5 4
6 12 6 3
10 6 4 ?

A. 4
B. 5
C. 6
D. 7

Page 11 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

ANSWER SHEET
Full name:
Test:
Mark:
Class code:
Total questions: 35 MCQs
Time: 30 minutes

A B C D A B C D A B C D
1     21     41    
2     22     42    
3     23     43    
4     24     44    
5     25     45    
6     26     46    
7     27     47    
8     28     48    
9     29     49    
10     30     50    
11     31     51    
12     32     52    
13     33     53    
14     34     54    
15     35     55    
16     36     56    
17     37     57    
18     38     58    
19     39     59    
20     40     60    

Page 12 of 12
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP AcademyPwC ENTRANCE TEST Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
Full name:
Test:
Total question: 30 MCQs
Time: 30 minutes

I. VERBAL REASONING (15 questions)

Word swap
In these questions two words have been interchanged so that the first word has been
moved to the place of the second and the second moved to the location of the first
word. No other change to the sentence has occurred. It is your task to identify the two
words that have been swapped. You should record your answer by writing the two
words in the answer box. Be sure to record the words in the order that they occur in
the question (ie, the incorrect order).

1. Bound about the Alps to the north, the boot-shaped peninsula of mainland Italy
stretches by 800km into the Mediterranean Sea.
Answer:

2. In the long fight for racial rights for black Americans Martin Luther King stands out for
his great commitment to equal equality.
Answer:

3. Kites can be simple flat structures made from a complex of thin sticks covered with
paper or more framework designs including data wings and aerofoils.
Answer:

4. Laws regulate government and state, between relationship the government and
individuals and the conduct of individuals towards each other.
Answer:

5. Scientists use businesses to test their theories, engineers use it to design new
machines and entrepreneurs use it to manage their mathematics.
Answer:

Page 1 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

True, false and cannot tell questions

SAPP Academy Tel: 0166 7703 493
Sour tasting things contain acids. They are only weak solutions of acidSapp.edu.vn
No. 20, 198 alley, Xa Dan street, Ha Noi
as something
that is strongly acidic will burn human skin. A bee sting contains an acid, our stomach
contains hydrochloric acid and a car battery contains a very strong solution of
sulphuric acid. Acids are very widely used in the chemical industry. Pollution from
power stations causes acid rain, which kills trees and fish.

6. It can be inferred from the passage that the hydrochloric acid in our stomachs is weak.
Answer:

7. The primary purpose of the passage is to describe the properties of things that taste
sour.
Answer:

8. It can be inferred from the passage that the acid in a car battery would burn if it made
contact with our skin.
Answer:

9. A wasp sting contains an acid.

Answer:

10. Lemon juice is an example of a sour tasting thing that is mentioned in the passage.
Answer:

Page 2 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

Mathching SAPP Academy Tel: 0166 7703 493

In this test, you No.
are20,given
198 alley, Xa Dan street, Ha Noi
three words – a pair of words and a wordSapp.edu.vn
with its pair
missing. You must try to identify the relationship that exists between the complete
pair before choosing a word from a list that has a similar relationship with the single
word.

11. Boat, Sails, Car?

A. Engine
B. Tyres
C. Journeys
D. Motorbikes

12. Fire, Smoke, Words?

A. Letters
B. Sentences
C. Voices
D. Dictionary

13. Telephone, River, Sea?

A. Receiver
B. Ring tone
C. Conversation
D. Exchange

14. Surface, Fuzzy, Smooth?

A. Veneer
B. Interior
C. Appearance
D. Horizontal

15. Jailed, Fraud, Expelled?

A. School
B. Smoking
C. Kick off
D. Child

Page 3 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

II. ADVANCED NUMERACY TEST (15 questions)

SAPP Academy Tel: 0166 7703 493
The test consists of a series of questions and labelled suggested answers toSapp.edu.vn
No. 20, 198 alley, Xa Dan street, Ha Noi
choose from.
You are required to select one of the suggested answers as the correct one and to record
that answer’s identifying label in the answer box. This means that all questions will be
answered by either A, B, C, D or E, depending on the number of suggested answers.

16. A cube has a volume of 125cm3. What is the length of one of its sides?
A. 3cm
B. 4cm
C. 5cm
D. 6cm

17. What is the sum of the integers from 110 to 630?

A. Under 200,000
B. Between 200,000 and 220,000
C. Between 220,000 and 240,000
D. Over 300,000

18. What is the average of the inclusive integers from 162 through to 726?
A. 444
B. 564
C. 282
D. 432

19. A ladder 8m long is resting against a wall so that the foot of the ladder is 3m from the
wall. How far is the top of the ladder above the ground?
A. 8.0m
B. 7.8m
C. 7.4m
D. 7.0m

20. How many tiles sized 20cm by 30cm are required to tile a floor which is 4 metres by
4.5 metres?
A. 100
B. 200
C. 300
D. 400

Page 4 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

21. Imagine you tossSAPP

a coin into the air and make a note of whether it landsTel:
Academy
heads or tails
0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
up. After 50 times, you have noted the following:
Heads: 21 times
Tails: 29 times
If you continue to toss the coin a further 100 times, about how many times would you
expect it to land heads up?
A. 42
B. 58
C. 63
D. 87

22. Complete the sequence:

14, 15, 16, 18, 20, 21, 22, ??
A. 23
B. 24
C. 25
D. 26

23. A bag contains 20 sweets, 10 of which are lemon and 10 vanilla flavoured. A sweet is
drawn at random, and replaced, and a second is drawn at random. What are the
chances (probability) that both sweets are lemon flavoured?
A. ½
B. ¼
C. 1/8
D. 1/16

24. At the local garden centre, pea canes have been delivered from the wholesalers in two
batches. It was discovered that the first batch of canes measure 100.5cm, while the
second batch measure 102.0cm in length. Given that the first batch is estimated to be
the correct length, what is the relative error between the two batches?
A. 1.0%
B. 1.5%
C. 2.0%
D. 2.5%

25. A bag contains three balls, one red, one blue and one yellow. To the nearest
percentage point, what is the percentage probability that the SECOND ball drawn will
be yellow?
A. 66%
B. 100%
C. 50%
D. 33%

Page 5 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

Data interpretation
SAPP Academy Tel: 0166 7703 493
All questions areNo.multiple
20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
choice. You are required to select one of the suggested
answers labelled A–D as the correct answer and record its letter of the alphabet in the
answer box.

In 1995, it was estimated that 1 in 50 Britons now in their mid-80s would live to age
100 or older. This figure is a result of improved nutrition and medical treatment which
has improved for 1 in 16 for people in their mid-80s now (in 2010). Official figures
showed this estimate for 2000 to be 1 in 25. There were 9,296 people aged 100 or
over in Britain in 2008; an increase of 1,000 on 2007, according to the Office for
National Statistics (ONS). The findings come just a month after ONS data showed that
there were 1.005 pensioners for every child under 16. In recent years there have been
seven women for every man who have lived to age 100 or older, but this ratio is
declining as male life expectancy is improving at a faster rate than that of women. The
number of centenarians has increased by 5.4% a year since 2008 and this trend is
expected to continue for the next five or more years.

26. How many more Britons in a cohort of 100,000 in their mid-80s in 2010 can be
expected to live to age 100 or older than a cohort of 100,000 Britons in their mid-80s
in 1995?
A. 6,250
B. 5,750
C. 5,000
D. 4,250

27. How many more women than men were aged 100 or older in 2007?
A. 1,037
B. 6,222
C. 7,259
D. 8,296

28. In percentage terms what was the increase in the number of centenarians between
2007 and 2008?
A. Just over 12%
B. Between 10 and 12%
C. Above 5.4% but below 10%
D. 5.4%

29. For every 100,000 children under the age of 16 how many more pensioners are there
in 2010?
A. 100,500
B. 1,500
C. 500

Page 6 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

D. Cannot tell
SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

30. Which of the suggested answers is the best estimate of the number of Britons in their
mid-80s in 1995?
A. 516,350
B. 464,800
C. 92,960
D. Cannot tell

Page 7 of 6
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

DELOITTE
SAPP Academy ENTRANCE TEST ANSWER
No. 20, 198 alley, Xa Dan street, Ha Noi
Tel: 0166 7703 493
Sapp.edu.vn

I. ACCOUNTING (20 questions)

1. The following information is available for a sole trader who keeps no accounting
records:
Net business assets at 1 July 20X6 186,000
Net business assets at 30 June 20X7 274,000
During the year ended 30 June 20X6:
Cash drawings by proprietor 68,000
Additional capital introduced by proprietor 50,000
Business cash used to buy a car for the 20,000
proprietor's wife, who takes no part in the
business

Using this information, what is the trader's profit for the year ended 30 June 20X6?
A. $126,000
B. $50,000
C. $86,000
D. $90,00
Answer: Profit = Increase in net asset - capital introduce + drawings = 88 – 50 + 88 = 126

2. Which of the following statements apply when producing a consolidated statement of

financial position?
(i) All intra-group balances should be eliminated.
(ii) Intra-group profit in year-end inventory should be eliminated.
(iii) Closing inventory held by subsidiaries needs to be included at fair value.
A. i only
B. i, ii and iii
C. i and ii only
D. iii only

3. Which of the following items could appear in a company’s statement of cash flows?
(i) Surplus on revaluation of non-current assets
(ii) Repayment of long-term borrowing
(iii) Bonus issue of shares
(iv) Interest received
A. i and ii
B. iii and iv
C. i and iii
D. ii and iv

Page 1 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

4. Which of the following statements are correct?

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
(i) A liability is a present obligation, arising from past events, the settlement of which is
expected to result in an outflow of economic resources.
(ii) An uncertain liability may be called a provision.
(iii) A contingent liability should be disclosed in the notes to the financial statements.
A. i only
B. i and ii only
C. ii and iii only
D. i, ii and iii

5. A company sublets part of its office accommodation. In the year ended 30 June 20X5
cash received from tenants was $83,700. Details of rent in arrears and in advance at the
beginning and end of the year were:
In arrears In arrears
$ $
30 June 20X6 3,800 2,400
30 June 20X7 4,700 3,000

All arrears of rent were subsequently received. What figure for rental income should be
included in the company's statement of profit or loss for the year ended 30 June 20X5?
A. $84,000
B. $83,400
C. $80,600
D. $85,800

Rental income = 2,400 + 83,700 + 4,700 – 3,800 – 3,000 = $84,000

6. Which of the following are correct?
(i) The statement of financial position value of inventory should be as close as possible
to net realisable value.
(ii) The valuation of finished goods inventory must include production overheads.
(iii) Production overheads included in valuing inventory should be calculated by
reference to the company's normal level of production during the period.
(iv) In assessing net realisable value, inventory items must be considered separately, or
in groups of similar items, not by taking the inventory value as a whole.
A. i and ii only
B. iii and iv only
C. i and iii only
D. ii, iii and iv

Page 2 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

7. The figures shown SAPPinAcademy

the table below are an extract from the accounts of Ridgeway
Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
(capital employed is $1.5m).
$
Revenue 1,000,000
Cost of sales 400,000
Gross profit 600,000
Distribution expenses and administration cost 300,000
Profit before interest and tax 300,000
Finance cost 50,000
Profit before tax 250,000
Income tax expense 100,000
Profit after tax 150,000

What is the return on capital employed (ROCE)?

A. 7%
B. 10%
C. 40%
D. 20%
Answer: ROCE = $300,000/$1.5m = 20%

8. Ordan received a statement from one of its suppliers, Alta, showing a balance due of
$3,980. The amount due according to the payables ledger account of Alta in Ordan's
records was only $230. Comparison of the statement and the ledger account revealed
the following differences:
 A cheque sent by Ordan for $270 has not been allowed for in Alta's statement.
 Alta has not allowed for goods returned by Ordan $180.
 Ordan made a contra entry, reducing the amount due to Alta by $3,200, for a
balance due from Alta in Ordan's receivables ledger. No such entry has been made
in Alta's records.
What difference remains between the two companies' records after adjusting for these
items?
A. $460
B. $640
C. $6,500
D. $100

Page 3 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

9. Which of the following statements are correct?

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
(i) Contingent assets are included as assets in financial statements if it is probable that
they will arise.
(ii) Contingent liabilities must be provided for in financial statements if it is probable
that they will arise.
(iii) Material non-adjusting events are disclosed by note in the financial statements.
A. i only
B. i and iii
C. ii and iii
D. iii only

10. At 1 January 20X5 a company had an allowance for receivables of $18,000. At 31

December 20X5 the company's trade receivables were $458,000. It was decided:
 To write off debts totalling $28,000 as irrecoverable.
 To adjust the allowance for receivables to the equivalent of 5% of the remaining
receivables.
What figure should appear in the company's statement of profit or loss for the total of
debts written off as irrecoverable and the movement in the allowance for receivables
for the year ended 31 December 20X5?
A. $49,500
B. $31,500
C. $32,900
D. $50,900

11. The following information is available about the transactions of Razil, a sole trader who
does not keep proper accounting records:
$
Opening inventory 77,000
Closing inventory 84,000
Purchases 763,000

Gross profit as a percentage of sales 30%

Based on this information, what is Razil's sales revenue for the year?
A. $982,800
B. $1,090,000
C. $2,520,000
D. $1,080,000

Page 4 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

12. Tinsel Co has 5 million $1 issued ordinary shares. At 1 May 20X0 Fairy CoTel:
SAPP Academy purchased 60%
0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
of Tinsel Co’s $1 ordinary shares for $4,000,000. At that date Tinsel Co had net assets
with a fair value of $4,750,000 and a share price of $1.10. Fairy Co valued the non-
controlling interest in Tinsel Co at acquisition as $2,200,000.
What is the total goodwill on acquisition at 1 May 20X0?
A. $1,150,000
B. $1,750,000
C. $750,000
D. $1,450,000

13. On 1 September 20X6, a business had inventory of $380,000. During the month, sales
totaled $650,000 and purchases $480,000. On 30 September 20X6 a fire destroyed
some of the inventory. The undamaged goods in inventory were valued at $220,000.
The business operates with a standard gross profit margin of 30%.
Based on this information, what is the cost of the inventory destroyed in the fire?
A. $185,000
B. $140,000
C. $405,000
D. $360,000

14. A business received a delivery of goods on 29 June 20X6, which was included in
inventory at 30 June 20X6. The invoice for the goods was recorded in July 20X6.
(i) Profit for the year ended 30 June 20X6 will be overstated.
(ii) Inventory at 30 June 20X6 will be understated.
(iii) Profit for the year ending 30 June 20X7 will be overstated.
(iv) Inventory at 30 June 20X6 will be overstated.
What effect will this have on the business?
A. i and ii
B. ii and iii
C. i only
D. i and iv

Page 5 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

15. Which of the following

SAPP Academy statements about the requirements of VASTel:18
0166Provisions,
7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
Contingent Liabilities and Contingent Assets are correct?
(i) Contingent assets and liabilities should not be recognised in the financial
statements.
(ii) A contingent asset should only be disclosed in the notes to a financial statement
where an inflow
of economic benefits is probable.
(iii) A contingent liability may be ignored if the possibility of the transfer of economic
benefits is remote.
A. All three statements are correct
B. i and ii only
C. i and iii only
D. ii and iii only

16. Carter, a limited liability company, has non-current assets with a carrying value of
$2,500,000 on 1 December 20X7.
During the year ended 30 November 20X8, the following occurred:
 Depreciation of $75,000 was charged to the statement of profit or loss.
 Land and buildings with a carrying value of $1,200,000 were revalued to $1,700,000.
 An asset with a carrying value of $120,000 was disposed of for $150,000.
 The carrying value of non-current assets at 30 November 20X8 was $4,200,000.
In accordance with VAS 24 Statement of Cash Flows, what net cash flows from the
above transactions would be included within ‘net cash flows from investing activities’
for the year ended 30 November 20X8?
A. $(1,395,000)
B. $(1,365,000)
C. $150,000
D. $(1,245,000)

Page 6 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

17. A newly registered company

SAPP Academy is considering the accounting policies it should adopt.
Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
Policies under consideration are:
(i) Research and development expenditure should be capitalised and amortised over
the years in which the resultant product is sold or used.
(ii) Inventory should be valued at the lower of cost and net realisable value.
(iii) Goodwill arising in a business combination should be written off immediately to the
statement of profit or loss.
Which of these possible accounting policies would, if adopted, contravene International
Financial Reporting Standards?
A. i and ii only
B. ii and iii only
C. i and iii only
D. i, ii and iii

18. Which of the following costs should be included in valuing inventories of finished goods
held by a manufacturing company, according to VAS 2 Inventories?
(i) Carriage inwards
(ii) Carriage outwards
(iii) Depreciation of factory plant
(iv) Accounts department costs relating to wages for production employees
A. All four items
B. ii and iii only
C. i, iii and iv only
D. i and iv only

19. The increase in net assets is $173, drawings are $77 and capital introduced is $45. What
is the net profit for the year?
A. $295
B. $205
C. $51
D. $141

20. Capital introduced is $50. Profits brought forward at the beginning of the year amount
to $100 and liabilities are $70. Assets are $90.
What is the retained profit for the year?
A. $130 profit
B. $130 loss
C. $10 profit
D. $10 loss

Page 7 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

II. AUDITING (15 questions)

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
21. Which one of the following procedures should NOT be carried out after the audit firm
has decided to accept appointment as auditor?
A. Ensure that the outgoing auditors’ removal/ resignation has been properly
conducted
B. Ensure that a resolution has been passed at the general meeting to appoint the new
auditors
C. Perform checks to ensure that there are no legal or ethical reasons why the new
audit firm cannot act as auditor
D. Submit a letter of engagement to the directors

22. Which one of the following NOT constitute analytical procedures?

A. Consideration of comparable information for period periods
B. Consideration of relationships between elements of financial information that are
expected to conform to a predicted pattern
C. Consideration of whether a balance has been calculated correctly
D. Consideration of similar industry information

23. What is the primary difference between fraud and errors in financial statement
reporting?
A. The materiality of the misstatement
B. The intent to deceive
C. The level of management involved
D. The type of transaction effected

24. Which two of the following characteristics apply to internal audit?

(i) The purpose is to improve the company’s operations.
(ii) Reports to shareholders on whether the financial statements give a true and fair
view of affairs.
(iii) Auditors may be employees of the company.
(iv) Evidence is collected in accordance with relevant regulations.
A. i and iii
B. ii and iv
C. i and iv
D. ii and iii

Page 8 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
25. What are the two elements of the risk of material misstatement at the assertion level?
A. Inherent risk and detection risk
B. Audit risk and detection risk
C. Inherent risk and control risk
D. Detection risk and control risk

26. The auditor of Z Co has set performance materiality at $100,000. Which of the following
could be the materiality level set for the financial statements as a whole for Z Co?
A. $80,000
B. $95,000
C. $100,000
D. $120,000
27. Due to disruptions caused by the recent transition to a new accounting system, one
month of H Co's inventory records have been lost. The auditors performing the
statutory audit for the twelve month period have determined that the possible effects
of undetected misstatements could be material, but not pervasive.
What form of audit opinion would the auditor give?
A. Unmodified opinion with an emphasis of matter paragraph
B. Qualified opinion
C. Adverse opinion
D. Disclaimer of opinion

28. The auditor of A Co wishes to reduce audit risk. Which of the following actions could the
auditor take to achieve this?
(i) Increase sample sizes
(ii) Reduce control risk
(iii) Assign more experienced staff to the engagement team
A. i only
B. ii only
C. i and iii
D. ii and iii

Page 9 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

29. The auditor of Mondays

SAPP AcademyLtd is performing a test to ensure that there are no omissions
Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
from the non-current asset register.
In respect of which of the following assertions will this procedure provide audit
evidence?
A. Cut-off
B. Valuation
C. Completeness
D. Existence
E. Classification

30. Which of the following financial statement assertions will be supported by a sample
check on the numberical sequence of despatch notes and invoices?
A. Allocation
B. Occurrence
C. Completeness
D. Valuation

31. What is the objective of external audit of a limited company?

A. To protect the interests of minority shareholders
B. To detect fraud and other irregularities
C. To assess the effectiveness of the company’s performance
D. To provide assurance on the directors’ assertion about the financial statements

32. Who would approve the appointment of a company’s auditor?

A. The statutory authorities
B. The directors
C. The shareholders
D. The company’s bank

Page 10 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
33. As an audit team member with two years of experience, you were assigned to carry out
a substantive test on directors’ expenses. The result of the test showed that in several
cases involving the same director, the Chief Financial Officer (CFO) had authorised the
over payment of his expenses. Each expense item was less than the performance
materiality level.

What action should be taken?

A. Draw conclusion
B. Discuss with a senior member of the audit team
C. Extend sample
D. Discuss with the CFO

34. Talland &Co is the external auditor of Huntley Co, a retailer. The managing partner has
been called to a meeting with the board of directors of Huntley Co. At that meeting the
firm has been asked if it can provide the following non-audit services. Huntley Co plans
to implement a new sales system. The board proposes that Talland & Co takes on a
consultancy project to evaluate several possible systems, advise on which system should
be selected, and oversee the installation of the new system.

Which of the following threats would arise from the above scenario, if the project was
accepted by Talland & Co?
A. Advocacy
B. Familiality
C. Self-review
D. Intimidation

35. Which of the following statement are true with respect to use of analytical procedures
in audits?
(1) They are used at the planning stage
(2) They involve tracing transactions from documentation to accounting records
(3) They are used to provide substantive evidence
(4) They are used to provide evidence of the operation of control

A. (2), (3), (4) only

B. (2) and (4)
C. (1) and (3)
D. (1), (2), and (3) only

Page 11 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

III. TAX (15 questions)

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
36. Current standard CIT rate is:
A. 27% (applicable from 1 January 2014)
B. 22% (applicable from 1 January 2015)
C. 20% (applicable from 1 January 2016)
D. 23% (applicable from 1 Jannuary 2014)

37. FCT rate for transfer of securities

A. 5% CIT, 3% VAT
B. 2% CIT
C. 0.1% CIT
D. 1% CIT

38. Which is (are) the requirement(s) for PE conditions?

A. A production or business estalishment through which a foreign company carries
out part or the whole of business activities in Vietnam and earn income
B. A production or business estalishment through which a foreign company carries out
part of business activities in Vietnam and earn income
C. A production or business estalishment through which a foreign company carries out
the whole of business activities in Vietnam and earn income
D. A production or business estalishment through which a foreign company carries out
part or the whole of business activities in Vietnam and have profit

39. Tax rate applied to non-tax residents

A. Progressive tax rates based on income levels
B. 10% tax rate
C. 20% tax rate for employment income
D. 2% of the sales proceeds

40. Company A is liable to pay value-added tax by the credit method. The added-value
invoice contains the following items:
Selling price: VND 100,000.
VAT (10%): VND 10,000.
Payment price: VND 110,000
What is the turnover for calculating taxable income?
A. VND 110,000
B. VND 100,000
C. VND 111,111
D. VND 90,000

Page 12 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

41. Company A, whichSAPPis Academy

a business organization that pays tax using credit-invoice method,
Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
buys coffee beans from farmers, then sells them to business household H. VAT shall be
levied on:
A. 5% the profit from selling coffee beans to business household H
B. 5% the revenue from selling coffee beans to business household H
C. 10% the revenue from selling coffee beans to business household H
D. 10% the profit from selling coffee beans to business household H

42. Mrs. C earns an income of 40 million VND from wages and remuneration in the month,
and pay 7% of wages for social insurance premium, 1.5% of wages for health insurance
premium. Mrs. C has 2 children under the age of 18, and makes no charitable donations.
The assessable income of Mrs.C.
A. 29.4 million VND
B. 20.4 million VND
C. 24 million VND
D. 23.8 million VND

43. Non-business unit A leases a house and earns an annual turnover of VND 100 million. It
cannot determine the cost of and income from this activity, so it chooses to declare and
pay enterprise income tax at a percentage of the turnover from the sale of goods and
services as follows.
A. 2 million VND
B. 5 million VND
C. 1 million VND
D. 25.15 million VND

44. When would they determine of VAT/CIT for goods

A. Transfer of ownership
B. Money collection
C. Invoice issuance
D. Others

45. Mr. D directly signs a contract with lottery company X to act as a level I agent of
company X. In 2015, Mr. D receives a total commission of VND 240 million (> VND 100
million). In this case, what is the revenue to calculate tax from lottery agent activities?
A. 100 million VND
B. 240 million VND
C. 140 million VND
D. None of above

Page 13 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

IV. GENERAL (10 questions)

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
46. The first female Chairman of National Assembly of Vietnam is
A. Nguyen Thi Kim Ngan
B. Tong Thi Phong
C. Truong My Hoa
D. Nguyen Thi Doan

47. Seagame 29 will be hosted in?

A. Vietnam
B. Cambodia
C. Brunei
D. Malaysia

48. Where is the origin of the Zika virus?

A. Brazin
B. Uganda
C. Brunei
D. Mexico

49. How many deputy prime ministers are there in Vietnam?

A. 5
B. 6
C. 7
D. 8

50. How many times did Vietnam participate in FIFA U-20 WorldCup?
A. 0
B. 1
C. 2
D. 3

51. Who is the minister of Industry and Trade in Vietnam?

A. Truong Minh Tuan
B. Vu Huy Hoang
C. Dinh Tien Dung
D. Tran Tuan Anh

Page 14 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

52. When did the Uber

SAPPenter
Academyto the Vietnamese market? Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
A. 5/2014
B. 6/2014
C. 7/2014
D. 8/2014

53. Which of the following Vietnamese films broke the box office record?
A. Vu em tap su
B. Em chua 18
C. Ve si Sai Gon
D. Bui doi cho lon

54. Who is the winner at The VoiceVietnam 2017:

A. Dao Tin
B. Ali Hoang Duong
C. Mai Anh
D. Milana

55. TPP signed at

A. Rusia
B. Japan
C. New Zealand
D. Canada

Page 15 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

V. IQ, EQ (5 questions)
SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
56. The numbers in the grid to together in a certain way.
Which number should be in the square marked by the question mark?
35 30 27
31 26 23

28 23 ?

A. 19
B. 20
C. 21
D. 22

57. 27, 24, 30, 27, 33, …

A. 48
B. 27
C. 30
D. 24

58. The present age of Ram is 20 years and of his father is 40 years. How many years ago
the age of his father was three times of his age?
A. 10 years
B. 8 years
C. 6 years
D. 4 years

59. Which is the difference againts others?

J, E, O, A
A. J
B. E
C. O
D. A

60. Three friends had dinner at a restaurant. When the bill was received, Amita paid 2/3 as
much as Veena paid, and Veena paid 1/3 as much as Tanya paid. What fraction of the
bill did Veena pay?
A. 1/3
B. 3/11
C. 3/14
D. 5/8

Page 16 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

VI. ESSAY SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
More and more people decide to have children later in their life nowadays. By an essay of
at least 250 words, discuss the reasons and effects on society and family life?

Suggested solution:
In recent years, the decision of parents to start a family later in life has become an
increasingly popular trend. There are a number of reasons for this trend, which is having a
significant impact on both family life and on the community as a whole.
There are two important reasons why more people nowadays are deciding against having
children when they are young. Firstly, rather than embarking on parenthood, many
individuals consider that building their own successful careers is top-priority. If they had to
split their time between working and bringing up their offspring when they were in the early
stages of their careers, their performance at work and promotion prospects could be
negatively affected. Secondly, delaying childbirth could give young people countless
opportunities to enjoy their lives. For example, this choice may let young couples have a
richer social life, pursue their interests and hobbies or even to travel the world.
However, this tendency could have negative consequences in terms of both family life and
society. An important concern for a family is that raising children could be a huge challenge
for older parents. Even though they might have a high socioeconomic status, as well as great
experience and knowledge, it may not be easy for them to communicate with and relate to
their children, due to the generation gap. Another negative factor is that getting pregnant
after 35 years of age oftentimes carries more potential health risks. Specifically, this could
increase the danger of having a miscarriage or stillbirth for older mothers, and babies might
be at greater risk of having Down’s syndrome. Consequently, this could negatively affect the
quality of the future workforce.
In conclusion, there are a number of reasons why more and more people prefer giving birth
later in life. As a result, there could be negative influences on individual families and the
society at large.

Page 17 of 17
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

EY ENTRANCE TEST ANSWER

SAPP Academy
No. 20, 198 alley, Xa Dan street, Ha Noi
Tel: 0166 7703 493
Sapp.edu.vn

I. ACCOUNTING (20 questions)

1. The IASB’s Conceptual Framework for Financial Reporting identifies characteristics
which make financial information faithfully represent what it purports to represent.
Which of the following are examples of those characteristics?
(i) Accruals
(ii) Completeness
(iii) Going concern
(iv) Neutrality
A. i and ii
B. ii and iv
C. ii and iii
D. i and iv

2. The following bank reconciliation statement has been prepared by a trainee accountant:
$
Overdraft per bank statement 3,860
Less: Unpresented cheques 9,160
5,300
Add: Outstanding lodgements 16,690
Cash at bank 21,990

What should be the correct balance per the cash book?

A. $21,990 balance at bank as stated
B. $3,670 balance at bank
C. $11,390 balance at bank
D. $3,670 overdrawn
Answer:
$
Overdraft per bank statement (3,860)
Less: Unpresented cheques (9,160)
(13,020)
Add: Outstanding lodgements 16,690
Cash at bank 3,670

Page 1 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

3. Gareth, a sales tax registered

SAPP Academy trader purchased a computer for useTel:
in 0166
his 7703
business.
493 The
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
invoice for the computer showed the following costs related to the purchase:
$
Computer 890
Additional memory 95
Delivery 10
Installation 20
Maintenance (1 year) 25
1,040
Sales tax (17.5%) 182
Total 1,222

How much should Gareth capitalise as a non-current asset in relation to the purchase?
A. $1,193
B. $1,040
C. $1,222
D. $1,015
Answer: 1040 – 25 = 1015

4. Prior to the financial year end of 31 July 20X7, Canon Co has received a claim of
$100,000 from a supplier for providing poor quality goods which have damaged the
supplier’s plant and equipment. Canon Co’s lawyers have stated that there is a 20%
chance that Canon will successfully defend the claim.
Which of the following is the correct accounting treatment for the claim in the financial
statements for the year ended 31 July 20X7?
A. Canon should neither provide for nor disclose the claim
B. Canon should disclose a contingent liability of $100,000
C. Canon should provide for the expected cost of the claim of $100,000
D. Canon should provide for an expected cost of $20,000

Page 2 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
5. Q’s trial balance failed to agree and a suspense account was opened for the difference.
Q does not keep receivables and payables control accounts. The following errors were
found in Q’s accounting records:
(i) In recording an issue of shares at par, cash received of $333,000 was credited to the
ordinary share capital account as $330,000
(ii) Cash of $2,800 paid for plant repairs was correctly accounted for in the cash book
but was credited to the plant asset account
(iii) The petty cash book balance of $500 had been omitted from the trial balance
(iv) A cheque for $78,400 paid for the purchase of a motor car was debited to the motor
vehicles account as $87,400.
Which of the errors will require an entry to the suspense account to correct them?
A. i, ii and iv only
B. i, ii, iii and iv
C. i and iv only
D. ii and iii only

6. Which of the following statements about sales tax is/are true?

(i) Sales tax is an expense to the ultimate consumer of the goods purchased
(ii) Sales tax is recorded as income in the accounts of the entity selling the goods
A. i only
B. ii only
C. Both i and ii
D. Neither i nor ii

7. The following extracts are from Hassan’s financial statements:

$
Profit before interest and tax 10,200
Interest (1,600)
Tax (3,300)
Profit after tax 5,300
Share capital 20,000
Reserves 15,600
35,600
Loan liabilities 6,900
42,500
What is Hassan’s return on capital employed?
A. 15%
B. 29%
C. 24%
D. 12%
Answer: ROCE = Operating profit/Capital employed = 10200/42500 = 0.24

Page 3 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

8. The plant and machinery

SAPP Academy account (at cost) of a business for the year
Tel: 0166 7703 ended
493 31
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
December 20X6 was as follows:
Plant and machinery - cost
20X6 $ 20X6 $
1 Jan Balance b/f 240,000 31 Mar Transfer to disposal 60,000
account
30 Jun Cash purchase of 160,000 31 Dec Balance b/f 340,000
plant
400,000 400,000

The company’s policy is to charge depreciation at 20% per year on the straight line basis,
with proportionate depreciation in the years of purchase and disposal.
What should be the depreciation charge for the year ended 31 December 20X6?
A. $68,000
B. $64,000
C. $61,000
D. $55,000
Answer:
Depreciation
$
Jan – Mar 240000 x 20% x 3/12 12000
Apr – Jun (240000 – 60000) x 20% x 3/12 9000
Jul – Dec (180000 + 160000) x 20% x 6/12 34000
55000

9. Which of the following should appear in a company’s statement of changes in equity?

(i) Total comprehensive income for the year
(ii) Amortisation of capitalised development costs
(iii) Surplus on revaluation of non-current assets
A. i, ii and iv
B. ii and iii only
C. i and iii only
D. i and ii only

Page 4 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
10. At 31 December 20X5 a company’s capital structure was as follows:
$
Ordinary share capital 125,000
(500,000 shares of 25c each)
Share premium account 100,000

In the year ended 31 December 20X6 the company made a rights issue of 1 share for
every 2 held at $1 per share and this was taken up in full. Later in the year the company
made a bonus issue of 1 share for every 5 held, using the share premium account for the
purpose.
What was the company’s capital structure at 31 December 20X6?
Ordinary share Share premium
capital account
A. $450,000 $25,000
B. $225,000 $250,000
C. $225,000 $325,500
D. $212,500 $262,500
Answer:
Share capital Share premium
$ $
Balance b/f 125000 100000
Rights issue 62500 187500
Bonus issue 37500 (37500)
225000 250000

11. Bumbly Co extracted the trial balance for the year ended 31 December 20X6. The total
of the debits exceeded the credits by $300.
Which of the following could explain the imbalance?
A. Sales of $300 were omitted from the sales day book
B. Returns inward of $150 were extracted to the debit column of the trial balance
C. Discounts received of $150 were extracted to the debit column of the trial balance
D. The bank ledger account did not agree with the bank statement by a debit of $300

Page 5 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

12. Amy is a sole trader

SAPPand had assets of $569,400 and liabilities of $412,840
Academy on 493
Tel: 0166 7703 1 January
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
20X6. During the year ended 31 December 20X6 she paid $65,000 capital into the
business and she paid herself wages of $800 per month.
At 31 December 20X8, Amy had assets of $614,130 and liabilities of $369,770.
What is Amy’s profit for the year ended 31 December 20X6?
A. $32,400
B. $23,600
C. $22,800
D. $87,800
Answer: Opening net assets: 569400 – 412840 = 156560
Closing net assets: 614130 – 369770 = 244360
Profit = 244360 – 156560 – 65000 + 800 x 12 = 32400

13. A company values its inventory using the FIFO method. At 1 May 20X6 the company had
700 engines in inventory, valued at $190 each. During the year ended 30 April 20X7 the
following transactions took place:
20X5
1 July Purchased 500 engines at $220 each
1 November Sold 400 engines for $160,000
20X6
1 February Purchased 300 engines at $230 each
15 April Sold 250 engines for $125,000

What is the value of the company’s closing inventory of engines at 30 April 20X7?
A. $188,500
B. $195,500
C. $166,000
D. $106,000
Answer: The value of closing inventory is:
Opening: 700 x 190 = 133000 1 May 20X5
Plus: 500 x 220 = 110000 1 July 20X5
Less: 400 x 190 = 76000 1 November 20X5
Plus: 300 x 230 = 69000 1 February 20X6
Less: 250 x 190 = 47500 15 April 20X6
Closing: 188,500

Page 6 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

14. Which of the following material events after the reporting date andTel:
SAPP Academy before the493financial
0166 7703
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
statements are approved are adjusting events?
(i) A valuation of property providing evidence of impairment in value at the reporting
date.
(ii) Sale of inventory held at the reporting date for less than cost.
(iii) Discovery of fraud or error affecting the financial statements.
(iv) The insolvency of a customer with a debt owing at the reporting date which is still
outstanding.
A. i, ii and iv only
B. i, ii, iii and iv
C. i and iv only
D. ii and iii only

15. The following control account has been prepared by a trainee accountant:
Receivables ledger control account
$ $
Opening balance 308,600 Cash 147,200
Credit sales 154,200 Discounts allowed 1,400
Cash sales 88,100 Interest charged on overdue 2,400
accounts
Contras 4,600 Irrecoverable debts 4,900
Allowance for receivables 2,800
Closing balance 396,800
Total 555,500 555,500

What should the closing balance be when all the errors made in preparing the
receivables ledger control account have been corrected?
A. $395,200
B. $304,300
C. $309,500
D. $307,100
Answer:
Receivables ledger control account
$ $
Opening balance 308,600 Cash 147,200
Credit sales 154,200 Discounts allowed 1,400
Interest charged on overdue 2,400 Contras 4,600
accounts
Irrecoverable debts 4,900
Closing balance 307100
Total 465,200 465,200

Page 7 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

16. Plym plc is a retailer

SAPPwhich
Academyis registered for VAT. All sales, and all purchases of 493
Tel: 0166 7703 goods for
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
resale, attract VAT at the rate of 20%. For the year to 30 June 20X7, Plym plc paid
£69,600 to suppliers in respect of goods for resale, and showed revenue in the
statement of profit or loss of £89,400. There was no change in the figures for inventory
and trade payables in the statements of financial position as at 30 June 20X6 and 20X7.
What was Plym plc's gross profit for the year ended 30 June 20X7?
A. £19,800
B. £4,900
C. £31,400
D. £16,500
Answer: 89400 – 69600 = 19800

17. Hywel plc's trial balance includes a total for all the receivables ledger accounts as listed
out at the year end. The receivables ledger is part of the double entry system. The trial
balance fails to agree and a suspense account is opened. The difference is due to the
following errors in Hywel plc's ledger accounts:
(i) The balance on Markham plc's receivables ledger account is £9,890. This is
incorrectly recorded in the trial balance as £9,980
(ii) A discount allowed to Umberto of £33 was debited to his receivables ledger account
(iii) The sales account is overcast by £110. Three journals are drafted to correct these
errors.
Together these journals should:
A. Credit the suspense account with £110
B. Debit the suspense account with £86
C. Credit the suspense account with £46
D. Debit the suspense account with £46

18. Peri's bookkeeper made the following mistakes:

(i) Discount allowed £3,840 was credited to discounts received account.
(ii) Discount received £2,960 was debited to discounts allowed account.
(iii) Discounts were otherwise correctly recorded.
Which of the following journal entries will correct the errors?
A. Debit Discount allowed £7,680, Credit Discount received £5,920, Credit Suspense
account £1,760.
B. Debit Discount allowed £880, Credit Discount received £880, Credit Suspense
account £1,760.
C. Debit Discount allowed £6,800, Credit Discount received £6,800.
D. Debit Discount allowed £3,840, Credit Discount received £2,960, Credit Suspense
account £880.

Page 8 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
19. According to IAS 1 Presentation of Financial Statements, compliance with International
Accounting Standards and International Financial Reporting Standards will normally
ensure that:
A. The entity’s inventory is valued at net realisable value
B. The entity’s assets are valued at their break-up value
C. The entity’s financial statements are prepared on the assumption that it is a going
concern
D. The entity’s financial position, financial performance and cash flows are presented
fairly

20. Which of the following definitions for the 'going concern' concept in accounting is the
most accurate in the light of IAS 1 Presentation of Financial Statements?
A. The directors do not intend to liquidate the entity or to cease trading in the
foreseeable future
B. The entity is able to pay its debts as and when they fall due
C. The directors expect the entity’s assets to yield future economic benefits
D. Financial statements have been prepared on the assumption that the entity is
solvent and would be able to pay all creditors in full in the event of being wound
up.

Page 9 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

II. AUDITING (10 questions)

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
21. What is audit risk?
A. Can be completely eliminated through appropriate sampling of transactions.
B. Is the risk that a "clean" opinion will be issued when, in reality, the financial
statements are materially misstated.
C. Is what creates the demand for an audit.
D. Is the risk that a company may hire an incompetent auditor.

22. Which of the following audit phases would generally be conducted before all of the
others listed below?
A. Auditing business processes and related accounts.
B. Evaluation of audit evidence.
C. Gaining an understanding of the client's industry.
D. Consideration of internal control systems.

23. An auditor's evaluation of the reasonableness of a client's loan loss reserve would
normally be made during which phase of the audit?
A. Gaining an understanding of the client's industry.
B. Client acceptance/pre-planning.
C. Consideration of internal control systems.
D. Auditing business processes and related accounts.

24. What is the essential meaning of the generally accepted auditing standard that requires
that the auditor be independent?
A. The auditor must be without bias with respect to the client under audit.
B. The auditor must adopt a critical attitude during the audit.
C. The auditor's sole obligation is to third parties.
D. The auditor may have a direct ownership interest in his client's business if it is not
material.

25. The responsibility for implementing sound accounting practices and principles,
maintaining an adequate internal control structure, and making fair representations in
the financial statements rests primarily with the:
A. Senior management
B. External auditors
C. Internal audit department
D. Shareholders

Page 10 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
26. Which of the following best describes the fiduciary relationship between management
and the board of directors?
A. Management reports to the board of directors.
B. The board of director reports to management.
C. Neither group is accountable to the other.
D. Both groups report directly to the shareholders.

27. The existence of audit risk is recognized by the statement in the auditor's standard
report that the:
A. Auditor obtains reasonable assurance about whether the financial statements are
free of material misstatements.
B. Auditor is responsible for expressing an opinion on the financial statements, which
are the responsibility of management.
C. Financial statements are presented fairly, in all material respects, in conformity with
VAS.
D. Audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements.

28. Which of the following factors would an auditor least likely consider when assessing the
inherent risk associated with client sales transactions?
A. Billings are made using the percentage-of-completion method of revenue
recognition.
B. The nature of the credit authorization process.
C. Some invoices are normally billed prior to shipments [which occur at a later date].
D. The conditions of the sale allow for a right of return or the right to modify the
purchase agreement.

29. The risk that an auditor's procedures will lead to a conclusion that a material
misstatement in an account balance does not exist, when in fact a misstatement did
occur, is known as:
A. Audit risk
B. Detection risk
C. Inherent risk
D. Business risk

30. Which of the following factors is least likely to represent an opportunity to commit
fraud?
A. The audit committee is ineffective.
B. Poor internal controls over cash transactions
C. The existence of highly complex transactions
D. Operating losses make a hostile takeover imminent.

Page 11 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

III. TAX (10 questions) SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
31. On 1 July 2012, NLAM Co leased an asset for four years and paid the whole rent of
VND600 million in advance. On 1 July 2014, NLAM Co decided to shorten the lease
period to three years. The company expects that it will have to pay a penalty of VND60
million when it terminates the lease in 2015 in order to receive a refund of one year of
the original lease payment.
What is the deductible expense for NLAM Co with regard to the lease in the year ended
31 December 2014?
A. VND150 million
B. VND75 million
C. VND165 million
D. VND170 million
Answer: Only the original lease allocation per the lease period is allowed – point 2.16
Article 6 of Circular 78/2014. 600 mil/4 = 150 mil.

32. NEI Co, a foreign contractor, entered into a contract with PVN, a Vietnamese company,
to supply services in relation to oil exploration. NEI Co wants to apply the deduction
method for the declaration of value added tax (VAT) in Vietnam. In November 2014
when the tax code application was still in progress, NEI Co incurred input VAT of
USD15,000 for its operations in Vietnam. Also during that time, PVN made a progress
payment to NEI Co of USD200,000 (net of VAT at 10%) for the services. In December
2014 when the tax code was available, NEI Co incurred a further USD28,000 input VAT
for its operations in Vietnam.
What is the amount of NEI Co’s deductible input value added tax (VAT) in 2014?
A. USD63,000
B. USD28,000
C. USD35,000
D. USD15,000
Answer: Only the input VAT incurred when a tax code has been obtained is deductible –
point 3.b, Article 12 of Circular 103/2014.

Page 12 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

33. RETRA Co, a company specialising in developing real estate projects,

SAPP Academy Tel:has
0166 an
7703apartment
493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
and villa development project in the centre of Hanoi, which is expected to be completed
in 2018. The estimated total revenue and profits from this project are VND2,000 billion
and VND300 billion, respectively. RETRA Co has been collecting money in advance from
customers and in 2014 the total proceeds received were VND200 billion, on which
provisional tax of 1% was duly paid on receipt.
What is the taxable income from the project of RETRA Co for the purposes of its 2014
corporate income tax (CIT) finalisation return?
A. VND0 billion
B. VND30 billion
C. VND200 billion
D. VND300 billion
Answer: Collections in advance from customers for which costs are not determinable and 1%
provisional tax is paid are not taxable income in the year of collection – Article 17, point 1 of
Circular 78/2014/TT-BTC. Subsequently, the taxable income is 0 billion.

34. Mr Tomaz is a Hong Kong citizen and tax resident. He arrived in Vietnam to work on 21
April 2014 and on completion of his employment contract, he left Vietnam on 31
October 2015. In the years 2014 and 2015, he spent the following numbers of days in
Vietnam:
– From 21 April to 31 December 2014 – 130 days
– From 1 January to 20 April 2015 – 64 days
– From 21 April to 31 October 2015 – 110 days
Based solely on the above information, what is Mr Tomaz’s tax residency status in his
first and second tax year in Vietnam?
First year Second year
A Resident Resident
B Resident Non-resident
C Non-resident Resident
D Non-resident Non-resident
Answer: First tax year: 21 April 2014–20 April 2015: 130 + 64 = 194 days (more than 183
days): resident Second tax year: 1 January–31 October 2015: 64 + 110 = 174 days (less
than 183 days): non-resident.

Page 13 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
35. In 2014, SPTF Co incurred losses of VND10 billion from incentive activities which were
subject to a tax rate of 10%, made gains from the transferring of real estate of VND3
billion and had other income of VND8 billion.
What is the minimum tax liability of SPTF Co in 2014?
A. VND2,420 million
B. VND220 million
C. VND660 million
D. VND0 million
Answer: VND660 million (3 billion * 22%) The net losses from incentives and other
income of VND2 billion cannot be offset with the gains from real estate.

36. SWR Co, a Vietnamese company, has three separate sales outlets. In December 2014,
each of the outlets issued an invoice for the sale of one ton of construction materials to
three separate customers as follows. The sale of construction materials is subject to
value added tax (VAT) at the rate of 10%.
– Invoice 1: selling price VND20 million, VAT VND2 million
– Invoice 2: selling price VND22 million, no VAT as the selling price is inclusive
– Invoice 3: selling price VND20 million, no VAT because the construction materials
were given to the customer for free as part of a promotion which has been
registered with the authorities
What is the output value added tax (VAT) which SWR Co should have declared in
December 2014, if no amendments were made to the invoices?
A. VND4 million
B. VND2 million
C. VND4.2 million
D. VND6.2 million
Answer: VND4.2 million (2 million + 22 * 10% + 0). The taxable revenue when VAT is not
separated, as for Invoice 2, must be the whole of the selling price.

37. Ms Hoai Pham has two dependants. In 2014, her monthly gross salary was VND50
million and she was responsible for paying 8% social insurance and 1.5% health
insurance.
What is Ms Hoai Pham’s monthly tax liability (to the nearest VND10,000)?
A. VND4.16 million
B. VND4.67 million
C. VND6.26 million
D. VND5.20 million
Answer: VND4.67 million [(50 million – (9 million + 3.6 million * 2 + 23 million * (8% +
1.5%))) * 20% – 1.65 million]

Page 14 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

38. Mr Ho is a tax resident

SAPP Academyin Vietnam. In 2014 he received income Tel:
from 0166Country
7703 493 X, on
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
which Country X had imposed personal income tax at its domestic rates. Mr Ho is not a
resident in Country X.
Which of the following statements correctly describes Mr Ho’s entitlement to a tax
credit in Vietnam for the tax imposed by County X?
A. No tax credit can be claimed in Vietnam
B. A tax credit can be claimed in Vietnam only if Country X has a double tax avoidance
agreement (DTAA) with Vietnam
C. A tax credit can be claimed in Vietnam even if Country X does not have a DTAA
with Vietnam, but only up to the amount of personal income tax payable under
the Vietnamese tax regulations on the income
D. A tax credit can be claimed in Vietnam for the full amount of the overseas tax
without any conditions or restrictions

39. HNKV Co is a one-member limited liability company, which is wholly own by HKV, a
company incorporated in Bermuda. In 2014, HKV decided to convert HNKV Co into a
joint stock company by selling the shares of HNKV Co to two local Vietnamese entities.
The sale of the shares and the conversion of the company was completed in August
2014. Which combination of the following statements correctly describes the reporting
requirements for capital gains tax and corporate income tax (CIT) finalisation under the
current regulations?
(i) HNKV Co is required to file a capital gains tax declaration
(ii) The buyers are required to file a capital gains tax declaration
(iii) HNKV Co is required to file a CIT finalisation return at the time of conversion and at
the year end
(iv) HNKV Co is required to file a CIT finalisation return at the year end only
A. i and iii
B. i and iv
C. ii and iii
D. ii and iv
Answer: The buyers will be responsible for making a capital gains tax declaration since
they are local entities. According to point 2, Article 16 of Circular 151, HNKV Co is not
required to file a corporate income tax (CIT) finalisation at the time of conversion when
it is a conversion from a limited liability company to a joint stock company.

Page 15 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

40. Mr Gambl is a Canadian and non-resident in Vietnam. On 1 December

SAPP Academy 2014,
Tel: 0166 7703 during
493 his
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
vacation trip to Vietnam, he visited PHT, a casino for expatriates in Vietnam. He cashed
in (i.e. exchanged cash for chips) USD600 at the beginning, and cashed out (i.e.
exchanged chips for cash) USD500 on each of three separate occasions with his
winnings.
What is Mr Gambl’s tax liability in Vietnam as a result of these transactions?
A. VND 935,000
B. VND 1,935,000
C. VND 2,225,000
D. VND 3,225,000
Answer: VND935,000 [((500 * 3 – 600) * 21,500 – 10,000,000) * 10%]

Page 16 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

IV. GENERAL KNOWLEDGE (10 questions)

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
41. Which national football team was the champion of EURO 2016?
A. England
B. Portugal
C. Germany
D. Spain

42. What is the name of EY’s CEO in Vietnam?

A. Ha Thu Thanh
B. Warrick Cleine
C. Tran Dinh Cuong
D. Tran Van Minh

43. Who is the Governor of State Bank of Vietnam (SBV)?

A. Nguyen Van Binh
B. Le Minh Hung
C. Nguyen Van Giau
D. Le Duc Thuy

44. How many floors does Keangnam Hanoi Landmark Tower have?
A. 90
B. 72
C. 46
D. 16

45. How many countries are in European Union (EU) in August 2017?
A. 25
B. 26
C. 27
D. 28

46. Which movie is dominated for Best Picture for Oscar 2017?
A. Moonlight
B. La La Land
C. The Salesman
D. Manchester of the Sea

47. Who is the author of “Diary of a Cricket”?

A. To Hoai
B. Nguyen Nhat Anh
C. Nam Cao
D. Nguyen Tuan

Page 17 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

48. Donald Trump is the

SAPP… President of United States
Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
A. 43th
B. 44th
C. 45th
D. 46th

49. Who is The Chairperson of the National Assembly of Vietnam?

A. Nguyen Sinh Hung
B. Do Ba Ty
C. Nguyen Van Giau
D. Nguyen Thi Kim Ngan

50. What does SHB stand for?

A. Shinhan Bank
B. Saigon-Hanoi Bank
C. Standard Heartstone Bank
D. Southern Hanoi Bank

Page 18 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

V. IQ, Verbal (10 questions)

1. Which number should come next in this series? 3, 5, 8, 13, 21,...

Answer: 34. 5-3=2, 8-5=3, 13-8=5, 21-13=8

2+3=5, 3+5=8, 5+8=13
Final number is: 21+13=34

2. Which number should replace the question mark?

8 5 21
35 32 12
32 28 31
4 ? 28

Answer: -6. In each row, the first column minus the second column is equal to the sum
of the digit of the last column. (4-(-6) = 2+8)

3. Fill in the blank in the middle of the series. P5QR, P4QS, P3QT, ...., P1QV

Answer: P2QJ

4. Currently Mark Zuckerberg is 31 years old, 9 more years his age doubles his sister’s
currently. So how old is Mark’s sister?

Answer: 20

5. If EGGFHGHE is 97786769 then HEFGGHFE is:

Answer: 69877689

6. Today Erik goes to market for the first time, his mother told him to buy a few PEARS
giving $23. How many PEARS can Erik buy maximum with the given money? Knowing
that:
- Apple + Apple + Pear + Peach = $23
- Peach + Apple + Orange + Apple = $22
- Apple + Orange + Apple + Apple = $16
- Apple + Apple + Apple + Apple = $12

Answer: 2. Apple = 3, Orange = 7, Peach = 9, Pear = 8.

Page 19 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

7. 12593 is to 35291
SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
And 29684 is to 46982
Therefore 72936 is to ?

Answer: 69237 ABCDE ECBDA

12593 35291
72936 69237

8. Which number is the odd one out?

84129, 32418, 47632, 36119, 67626, 72927

Answer: 47632. All the others are three-digit numbers followed by their square root,
eg 361 followed by its square root, 19.

9. AZBYDWGT??

Answer: KP. There are two alternate sequences. Starting at A, AbcDefGhijK; starting at Z,
ZyvuTsrqP

10. How many cases do you need if you have to pack 112 pairs of shoes into cases that each
hold 28 shoes?

Answer: 8. 112 pairs of shoes = 224 shoes. 224 : 28 = 8

Page 20 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

VI. ESSAY (250 words) SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
Parents often give children everything they ask for and do what they like. Is it good for
children? What are the consequences when they grow up?
- An essay needs to have a good structure, including Introduction, Discussion (2-3
paragraphs) and Conclusion.
- In the Discussion part, candidates need to provide their ideas and examples/evidences
in each graph. Each idea is corresponding to a paragraph. For example:
 The first reason is that children could depend on their parents instead of being
independent when they grow up. Subsequently, it could affect their moral in
studying and working. In particular, children know their parents could support the
tuition fee so that they would probably not focus on the learning process... (this
example is extremely effortless that equivalent to 6.0 IELTS)
- Additionally, candidates should use academic words and synonyms (consequences =
repercussions)

Page 21 of 21
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
KPMG ENTRANCE TEST ANSWER
I. ACCOUNTING (10 questions)
1. A company receives rent from a large number of properties. The total received in the year
ended 30 April 20X7 was $481,200. The following were the amounts of rent in advance
and in arrears at 30 April 20X6 and 20X7:
30 April 20X6 30 April 20X7
$ $
Rent received in advance 28,700 31,200
Rent in arrears (all subsequently received) 21,200 18,400

What amount of rental income should appear in the company’s statement of profit or loss
for the year ended 30 April 20X7?
A. $486,500
B. $460,900
C. $501,500
D. $475,900
Answer: Rental income = 28,700 - 21,200 + 481,200 - 31,200 + 18,400 = 475,900.

2. Which of the following statements is/are correct?

(i) A statement of cash flows prepared using the direct method produces a different figure to
net cash from operating activities from that produced if the indirect method is used
(ii) Rights issues of shares do not feature in a statement of cash flows
(iii) A surplus on revaluation of a non-current asset will not appear as an item in a statement of
cash flows
(iv) A profit on the sale of a non-current asset will appear as an item under cash flows from
investing activities in the statement of cash flows.

A. i and iii only

B. iii and iv only
C. ii and iv only
D. iii only

3. Xena has the following working capital ratios:

20X7 20X6
Current ratio 1.2:1 1.5:1
Receivable days 75 days 50 days
Payable days 30 days 45 days
Inventory turnover 42 days 35 days

Which of the following statements is correct?

A. Xena’s liquidity and working capital has improved in 20X7
B. Xena is receiving cash from customers more quickly in 20X7 than in 20X6
C. Xena is suffering from a worsening liquidity position in 20X7
D. Xena is taking longer to pay suppliers in 20X7 than in 20X6

Page 1 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

4. A company’s statement of profit or loss for the year ended 31 December 20X6 showed a
net profit of $83,600. It was later found that $18,000 paid for the purchase of a motor van
had been debited to the motor expenses account. It is the company’s policy to depreciate
motor vans at 25% per year on the straight-line basis, with a full year’s charge in the year
of acquisition.

What would the net profit be after adjusting for this error?
A. $106,100
B. $70,100
C. $97,100
D. $101,600
Answer: Net profit = 83,600 + 18,000 – 25% x 18,000 = 97,100

5. At 31 December 20X6 the following require inclusion in a company’s financial statements:

(i) On 1 January 20X6 the company made a loan of $12,000 to an employee, repayable on 1
January 20X7, charging interest at 2% per year. On the due date, she repaid the loan and
paid the whole of the interest due on the loan to that date.
(ii) The company paid an annual insurance premium of $9,000 in 20X6, covering the year
ending 31 August 20X7.
(iii) In January 20X7 the company received rent from a tenant of $4,000 covering the six
months to 31 December 20X6.

For these items, what total figures should be included in the company’s statement of
financial position as at 31 December 20X6?
A. Current assets $10,000 Current liabilities
$12,240
B. Current assets $22,240 Current liabilities $ nil
C. Current assets $10,240 Current liabilities $ nil
D. Current assets $16,240 Current liabilities $ 6,000
Answer: Current assets = 12,000 + 2% x 12,000 + (8/12) x 9,000+4,000=22,240

6. Which TWO of the following errors would cause the total of the debit column and the total
of the credit column of a trial balance not to agree?
(i) A transposition error was made when entering a sales invoice into the sales day book
(ii) A cheque received from a customer was credited to cash and correctly recognised in
receivables
(iii) A purchase of non-current assets was omitted from the accounting records
(iv) Rent received was included in the trial balance as a debit balance

A. i and ii
B. i and iii
C. ii and iii
D. ii and iv

Page 2 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

7. Annie is a sole trader who
No. 20, doesXanot
198 alley, Dan keep fullNoiaccounting records. The following
street, Ha details
Sapp.edu.vn

relate to her transactions with credit customers and suppliers for the year ended 30 June
20X7:
$
Trade receivables, 1 July 20X6 130,000
Trade payables, 1 July 20X6 60,000
Cash received from customers 686,400
Cash paid to suppliers 302,800
Discounts allowed 1,400
Discounts received 2,960
Contra between payables and receivables ledgers 2,000
Trade receivables, 30 June 20X7 181,000
Trade payables, 30 June 20X7 84,000

What figure should appear for purchases in Annie’s statement of profit or loss for the year
ended 30 June 20X7?
A. $325,840
B. $330,200
C. $331,760
D. $327,760
Answer: Purchase = 84000 + 2000 + 2960 + 302800 – 60000 = 331760

8. Which of the following statements are TRUE of limited liability companies?

(i) The company’s exposure to debts and liability is limited
(ii) Financial statements must be produced
(iii) A company continues to exist regardless of the identity of its owners

A. i and ii only
B. i and iii only
C. ii and iii only
D. i, ii and iii

9. Which of the following explains the imprest system of operating petty cash?
A. Weekly expenditure cannot exceed a set amount
B. The exact amount of expenditure is reimbursed at intervals to maintain a fixed float
C. All expenditure out of the petty cash must be properly authorised
D. Regular equal amounts of cash are transferred into petty cash at interval

10. Which of the following calculates a sole trader’s net profit for a period?
A. Closing net assets + drawings – capital introduced – opening net assets
B. Closing net assets – drawings + capital introduced – opening net assets
C. Closing net assets – drawings – capital introduced – opening net assets
D. Closing net assets + drawings + capital introduced – opening net assets

Page 3 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

II. AUDITING (10 questions
No. 20, 198
) alley, Xa Dan street, Ha Noi Sapp.edu.vn

11. Independent auditing can best be described as:

A. A branch of accounting
B. A discipline that provides assurance regarding the results of accounting and other
functional operations and data.
C. A professional activity that measures and communicates financial and business data.
D. A regulatory function that prevents the issuance of improper financial information.

12. Which of the following best describes the primary reason an independent auditor reports
on financial statements?
A. To give stockholders some assurance that any fraudulent activities will be detected.
B. To identify a poorly designed internal control structure that may produce unreliable
financial statements.
C. To provide expertise to clients, which may not be totally knowledgeable of prevailing VAS.
D. To add credibility where appropriate, since the client may not be perceived as objective
with respect to its own financial statements.

13. The fact that errors and/or omissions in certain relatively insignificant account balances
would not affect an auditor's decision when reporting on the financial statements as a
whole relates most closely to which major audit concept?
A. Materiality
B. Audit risk
C. Management assertions
D. Reasonable assurance

14. Audit evidence:

A. May only be gathered from parties external to the client to be reliable.
B. May only be gathered from the client to be reliable since the client is the most
knowledgeable source of information.
C. May only be gathered from computerized sources to avoid human error.
D. Can be gathered from many sources and is not limited to the underlying accounting data.

15. The most favorable type of audit report opinion for the client to receive is:
A. Qualified
B. Unqualified
C. Full assurance
D. Exceptional

16. The study and practice of auditing is unlike other areas in accounting because it:
A. Requires the memorization of formulas and patterns.
B. Requires the knowledge of GAAP.
C. Requires common sense and some creativity.
D. Is required by law for all companies in the United States.

Page 4 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

17. Which of the following management assertions is generally of greatest importance in the
audit of inventory?
A. Existence
B. Completeness
C. Rights and Obligations
D. Presentation and Disclosure

18. To exercise due professional care, an auditor should:

A. Attain the proper balance of professional experience and formal education.
B. Critically review the work performed and judgment exercised by those assisting in the
audit.
C. Examine all available corroborating evidence supporting management's assertions.
D. Design the audit to detect all instances of illegal acts.

19. Which of the following statements best describes an auditor’s responsibility to detect
errors, fraud and illegal acts?
A. The auditor should study and evaluate the client's internal control system and design the
audit to provide reasonable assurance of detecting all errors and fraud.
B. The auditor should consider the types of errors and fraud that could occur and determine
whether the necessary internal controls are prescribed and are being followed.
C. The auditor should assess the risk that errors and fraud may cause the financial
statements to contain material misstatements and design the audit to provide
reasonable assurance of detecting material errors and fraud.
D. The auditor should assess the risk that errors and fraud may cause the financial statements
to contain material misstatements and determine whether the necessary internal controls
are prescribed and are being followed satisfactorily.

20. The concept of materiality as it applies to a financial statement audit:

A. Relates primarily to the audit fees involved.
B. Generally, involves less professional judgment for public companies.
C. Is determined, in part, based on how financial statement users may be influenced in
making decisions.
D. Relates primarily to the quantity of audit procedures performed.

Page 5 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

III. TAX (10 questions)
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

21. On 1 January 2014, company CRS Co purchased a 16-seat car for VND 2,640 million
(including value added tax (VAT)) with proper invoices. The car will be depreciated for five
years.

What is the amount of the adjustment for non-deductible expenses which CRS Co should
make for the car in its tax return for the year 2014?
A. VND0 million
B. VND208 million
C. VND320 million
D. VND528 million
Answer: No adjustment required because the car has more than nine seats and so is
depreciable in full.

22. Which of the following items of income would NOT be subject to personal income tax in
Vietnam?
(i) Medical support for fatal disease from the employer to the parent-in-law of an employee
(ii) One-time round trip home leave air fares for the family of an expatriate employee
(iii) Kindergarten tuition fees for the children of a Vietnamese employee working abroad
(iv) Voucher issued by the employer to an employee for lunches in the canteen operated by
the employer

A. i, ii and iii
B. ii, iii and iv
C. i, ii and iv
D. i, iii and iv
Answer: According to points g1, g5, g6, g7 of Article 2 point 2 of Circular 111/2013/TT-BTC.

23. At the end of 2014, company, BND Co, paid bonuses to its board of directors of VND3,000
million. Each of the five directors is paid an equal amount of bonus. Two out of the five
directors are not involved in the daily management of the company’s business.

What is the amount of tax deductible expenses which BND Co will be able to claim for the
year 2014?
A. VND3,000 million
B. VND1,200 million
C. VND1,800 million
D. VND0 million
Answer: The expenses for three out of five board members who are involved in daily
management would be deductible. (3/5 x 3000 = 1800)

Page 6 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

24. Which of the following transactions would be subject to foreign contractor tax (FCT) in
Vietnam?
(i) Repair of a Vietnamese internet cable offshore
(ii) Online training for the employees of a Vietnamese company where the server is hosted
overseas
(iii) An intermediary arrangement for a Vietnamese company to provide services in Singapore
(iv) Granting of rights to a Vietnamese company to use the international brand name of a
world-famous product in Vietnam

A. i and ii
B. ii and iv
C. i and iii
D. iii and iv

25. In 2012, company CTC Co contributed capital of VND500 million to Company Z. In 2014,
CTC Co transferred 60% of the capital it held in Company Z to a foreign company for
VND450 million. At that time the retained earnings of Company Z were VND5 million. CTC
Co incurred transfer expenses of VND10 million.

What is the taxable income/(loss) of CTC Co from the transfer?

A. VND50 million (loss)
B. VND140 million
C. VND145 million
D. VND147 million
Answer: VND450 million – VND500 mil * 60% – VND10 million = VND140 million.

26. Ms Nga Le is a Vietnamese national with no dependants. On 1 January 2014, she signed a
gross employment contract with salary of VND260 million per month. Her employer is not
required to withhold compulsory insurance from her income.

What is the amount of Ms Nga Le’s monthly net take home income?
A. VND 81.15 million
B. VND 78 million
C. VND 178.85 million
D. VND 182 million
Answer: 260 million – [(260 million – 9 million) * 35% – 9·85 million] = 182 million.

Page 7 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

27. TDP Co, a Vietnamese company applying the value added tax (VAT) deduction method,
provided services to a foreign customer for VND200 million and charged VAT at 5% on the
invoice. In a tax review by a consultant, it was identified that the VAT rate used on the
invoice should have been 10%, however, TDP Co can no longer claim back the
undercharged VAT from the foreign customer.

What is the amount of additional output VAT which TDP Co will need to pay to the tax
authorities (rounded to the nearest VND million)?
A. VND 9 million
B. VND 10 million
C. VND 11 million
D. VND 20 million
Answer: [210 million/(1 + 10%) * 10%] – (200 million * 5% paid) = 9 million

28. On 1 April 2014, Mr Chau, a Vietnamese national, started employment with a new
employer, CTD Co. CTD Co has a policy whereby both the employer and the employee
contribute to a voluntary pension fund approved by the Government. The monthly
contributions for the employer and the employee, respectively, are VND4·5 million and
VND2 million.

What is the amount of the deduction Mr Chau can claim against his taxable income for the
above contributions in 2014?
A. VND9 million
B. VND78 million
C. VND24 million
D. VND18 million
Answer: Capped deduction VND1 million/month * 9 months = 9 million.

29. Which of the following statements are correct?

(i) The Vietnamese language shall be the official language used in all tax-related documents
to be submitted to the tax authorities
(ii) Documents in a foreign language must be translated into Vietnamese. All translations must
be performed or certified by an authorised public notary
(iii) Where the documents in a foreign language are more than 20 pages (of A4 size) long, the
taxpayer is allowed to translate only the key provisions relating to the determination of
the tax obligations (plus a written explanation to the tax authorities)

A. i only
B. ii and iii only
C. i and iii only
D. i, ii and iii

Page 8 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

30. In 2014, company DMS
No. 20,Co
198purchased
alley, Xa Dan materials
street, Ha Noifrom suppliers who are households doing
Sapp.edu.vn

business. DMS Co wanted to use the list of goods purchased (without invoices) to claim tax
deductible expenses for these purchases.

What is the threshold of annual revenue which households doing business must satisfy for
DMS Co to use the list of goods purchased method to claim for the purchases as a tax
deductible expense?
A. VND300 million
B. VND200 million
C. VND100 million
D. VND50 million
Answer: [Article 6, point 2.4 of Circular 78/2014/TT-BTC]

Page 9 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

IV. NUMERICAL REASONINGNo. 20, 198 AND
alley, XaSITUATIONAL
Dan street, Ha Noi JUDGEMENT (5 questions) Sapp.edu.vn

31. You are working as a graduate trainee in a large bank. Whilst undertaking your placement
with the customer service team, you take a call from an upset client. He is claiming that he
was expecting a refund on some banking fees he was wrongly charged for but he has not
received them. He explains that a colleague of yours promised reund would be in his
account today but the money has not arrived yet. He is getting more upset and is raising
his voice to you. What would you say to him?

A. “I will do all I can to help you with this issue. If you give me your account details I will
investigate what has happened here.”
B. “Let me check with the colleague you mentioned about what the situation is. If you can
hold for a couple of minutes I will speak to them and will be back with you in no time.”
C. “Sir, I can hear that you are really upset but I need you to calm down so that I can help
you.”
D. “I am sure there is a logical explanation for thi. If you give me your details I will look into it
for you.”

32. You are working as a graduate trainee in an electronics company and are currently part of
an international project team looking at new routes to market. During a conference call,
you are finding it difficult to understand what one of your colleagues is saying. She is a
graduate trainee like you and you have met her a few times during a couple of conferences
you both attended and you got on well. Her accent is very strong and she has a tendency
to speak very quickly when she is nervous. She is one of a number of people dialling in
from outside of the UK. You are in a meeting room with the project lead and a couple of
other colleagues. You can see that yours colleagues are also finding it difficult to
understand her. What would you do?

A. “When your colleague is no longer speaking, send her an instant message explaining that
she may benefit from slowing down a little as there are a few people who are finding it
difficult to understand her in the room where you are.”
B. “After the call acknowledge yours concerns to the others in the room and suggest that you
all compare notes to make sure you have a shared understanding of what she was actually
saying.”
C. “Mention your concerns to the project lead after the call, offering to speak to your
colleague if the project lead would like you to, explaining that you have a working
relationship with her.”
D. “Call your colleague afterwards to ask how she is finding the project and tactfully
mention that at times you found it difficult to understand what she was saying, politely
suggesting that just slowing down a little would help.”

33. In year 3, how much more than Italy did Germany spend on computer imports?
A. 650 million
B. 700 million
C. 750 million
D. 800 million

Page 10 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

SAPP Academy Tel: 0166 7703 493

E. 850 million No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

34. If the amount spent on computer imports into the United Kingdom in Year 5 was 20%
lower than in Year 4, what was spent in Year 5?
A. 1,080
B. 1,120
C. 1,160
D. 1,220
E. 1,300

35. Which number should replace the question mark?

17 8 5 5
13 7 5 4
6 12 6 3
10 6 4 ?

A. 4
B. 5
C. 6
D. 7

Page 11 of 11
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

PwC ENTRANCE TEST ANSWER

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
Full name:
Test:
Total question: 30 MCQs
Time: 30 minutes

I. VERBAL REASONING (15 questions)

Word swap
In these questions, two words have been interchanged so that the first word has been
moved to the place of the second and the second moved to the location of the first word.
No other change to the sentence has occurred. It is your task to identify the two words
that have been swapped. You should record your answer by writing the two words in the
answer box. Be sure to record the words in the order that they occur in the question (ie,
the incorrect order).

1. Bound about the Alps to the north, the boot-shaped peninsula of mainland Italy stretches
by 800km into the Mediterranean Sea.
Answer: About and by

2. In the long fight for racial rights for black Americans Martin Luther King stands out for his
great commitment to equal equality.
Answer: Racial and equal

3. Kites can be simple flat structures made from a complex of thin sticks covered with paper
or more framework designs including data wings and aerofoils.
Answer: Complex and framework

4. Laws regulate government and state, between relationship the government and
individuals and the conduct of individuals towards each other.
Answer: Between and (the first) the

5. Scientists use businesses to test their theories, engineers use it to design new machines
and entrepreneurs use it to manage their mathematics.
Answer: Business and mathematics

Page 1 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

True, false and cannot tell questions

SAPP Academy Tel: 0166 7703 493
Sour tasting thingsNo.contain
20, 198 alley, Xa Dan
acids. street,are
They Ha Noi
only weak solutions of acid asSapp.edu.vn
something that is
strongly acidic will burn human skin. A bee sting contains an acid, our stomach contains
hydrochloric acid and a car battery contains a very strong solution of sulphuric acid. Acids
are very widely used in the chemical industry. Pollution from power stations causes acid
rain, which kills trees and fish.

6. It can be inferred from the passage that the hydrochloric acid in our stomachs is weak.
Answer: False
Explanation: the passage states that we must only taste weak solutions of acid but nothing
is said about the acid in our stomachs other than it is hydrochloric acid and so it is false
that we can infer that the acid in our stomach is weak

7. The primary purpose of the passage is to describe the properties of things that taste sour.
Answer: False
Explanation: the primary purpose of the passage is to describe the properties and uses of
acids. One of these properties is that they taste sour.

8. It can be inferred from the passage that the acid in a car battery would burn if it made
contact with our skin.
Answer: True
Explanation: the passage states both that strongly acidic soluations burn and that a car
battery contains a strong solution of sulphuric acid. It is be inferred from the passage
therefore that the acid in a car battery will burn our skin.

9. A wasp sting contains an acid.

Answer: Cannot tell
Explanation: the passage states that a bee sting contains an acid and makes no reference
to what is contained in a wasp sting so we cannot tell if the statement is true or false.

10. Lemon juice is an example of a sour tasting thing that is mentioned in the passage.
Answer: False
Explanation: it is true that lemon juice is sour tasting but it is not true that this is
mentioned in the passage; in fact, no examples of sour tasting things are mentioned

Page 2 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

Mathching SAPP Academy Tel: 0166 7703 493

No. 20,
In this test, you are 198 alley,
given threeXa Dan street, Ha
words – aNoipair of words and a word with
Sapp.edu.vn
its pair missing.
You must try to identify the relationship that exists between the complete pair before
choosing a word from a list that has a similar relationship with the single word.

11. Boat, Sails, Car?

A. Engine
B. Tyres
C. Journeys
D. Motorbikes

Explanation: A boat can be powered by sails and a car by its engine

12. Fire, Smoke, Words?
A. Letters
B. Sentences
C. Voices
D. Dictionary

Explanation: One of the products of fire is smoke and words can be used to produce
sentences
13. Telephone, River, Sea?
A. Receiver
B. Ring tone
C. Conversation
D. Exchange

Explanation: A river runs to the sea and telephone connects to an exchange

14. Surface, Fuzzy, Smooth?
A. Veneer
B. Interior
C. Appearance
D. Horizontal

Explanation: Smooth is the opposite to fuzzy and interior is opposite to surface.

Page 3 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

15. Jailed, Fraud, Expelled?

SAPP Academy Tel: 0166 7703 493
A. School No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

B. Smoking
C. Kick off
D. Child
Explanation: you can be jailed for the crime of fraud and expelled from school for smoking

Page 4 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

II. ADVANCED NUMERACY TEST (15 questions)

SAPP Academy Tel: 0166 7703 493
No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn
The test consists of a series of questions and labelled suggested answers to choose from.
You are required to select one of the suggested answers as the correct one and to record
that answer’s identifying label in the answer box.
This means that all questions will be answered by either A, B, C, D or E, depending on the
number of suggested answers.

16. A cube has a volume of 125cm3. What is the length of one of its sides?
A. 3cm
B. 4cm
C. 5cm
D. 6cm

17. What is the sum of the integers from 110 to 630?

A. Under 200,000
B. Between 200,000 and 220,000
C. Between 220,000 and 240,000
D. Over 300,000

18. What is the average of the inclusive integers from 162 through to 726?
A. 444
B. 564
C. 282
D. 432

19. A ladder 8m long is resting against a wall so that the foot of the ladder is 3m from the
wall. How far is the top of the ladder above the ground?
A. 8.0m
B. 7.8m
C. 7.4m
D. 7.0m

20. How many tiles sized 20cm by 30cm are required to tile a floor which is 4 metres by 4.5
metres?
A. 100
B. 200
C. 300
D. 400

Page 5 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

21. Imagine you tossSAPP

a coin into the air and make a note of whether it landsTel:
Academy
heads or tails up.
0166 7703 493
No. have
After 50 times, you 20, 198 noted
alley, Xa the
Dan street, Ha Noi
following: Sapp.edu.vn

Heads: 21 times
Tails: 29 times
If you continue to toss the coin a further 100 times, about how many times would you
expect it to land heads up?
A. 42
B. 58
C. 63
D. 87

22. Complete the sequence:

14, 15, 16, 18, 20, 21, 22, ??
A. 23
B. 24
C. 25
D. 26

23. A bag contains 20 sweets, 10 of which are lemon and 10 vanilla flavoured. A sweet is
drawn at random, and replaced, and a second sweet is drawn at random. What are the
chances (probability) that both sweets are lemon flavoured?
A. ½
B. ¼
C. 1/8
D. 1/16

24. At the local garden centre, pea canes have been delivered from the wholesalers in two
batches. It was discovered that the first batch of canes measures 100.5cm, while the
second batch measures 102.0cm in length. Given that the first batch is estimated to be
the correct length, what is the relative error between the two batches?
A. 1.0%
B. 1.5%
C. 2.0%
D. 2.5%

Page 6 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

25. A bag contains three balls, one red, one blue and one yellow. To the nearest
SAPP Academy
percentage
Tel: 0166 7703 493
point, what is theNo. 20, 198 alley, Xa
percentage Dan street, Hathat
probability Noi the SECOND ball drawn will
Sapp.edu.vn
be yellow?
A. 66%
B. 100%
C. 50%
D. 33%

Page 7 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

Data interpretation
SAPP Academy Tel: 0166 7703 493
All questions are No. 20, 198 alley,
multiple Xa DanYou
choice. street,are
Ha Noi Sapp.edu.vn answers
required to select one of the suggested
labelled A–D as the correct answer and record its letter of the alphabet in the answer box
In 1995 it was estimated that 1 in 50 Britons now in their mid-80s would live to age 100 or
older. This figure is a result of improved nutrition and medical treatment which has
improved for 1 in 16 for people in their mid-80s now (in 2010). Official figures showed this
estimate for 2000 to be 1 in 25.
There were 9,296 people aged 100 or over in Britain in 2008; an increase of 1,000 on
2007, according to the Office for National Statistics (ONS).
The findings come just a month after ONS data showed that there were 1.005 pensioners
for every child under 16.
In recent years there have been seven women for every man who have lived to age 100 or
older, but this ratio is declining as male life expectancy is improving at a faster rate than
that of women. The number of centenarians has increased by 5.4% a year since 2008 and
this trend is expected to continue for the next five or more years

26. How many more Britons in a cohort of 100,000 in their mid-80s in 2010 can be expected
to live to age 100 or older than a cohort of 100,000 Britons in their mid-80s in 1995?
A. 6,250
B. 5,750
C. 5,000
D. 4,250

27. How many more women than men were aged 100 or older in 2007?
A. 1,037
B. 6,222
C. 7,259
D. 8,296

28. In percentage terms what was the increase in the number of centenarians between 2007
and 2008?
A. Just over 12%
B. Between 10 and 12%
C. Above 5.4% but below 10%
D. 5.4%

Page 8 of 9
 SAPP Academy Tel 096 972 94 63
6 Floor, No 2, Trai Ca Valley, Truong Dinh street, Ha Noi Sapp.edu.vn

29. For every 100,000 children under the age of 16 how many more pensioners
SAPP Academy
are there in
Tel: 0166 7703 493
2010? No. 20, 198 alley, Xa Dan street, Ha Noi Sapp.edu.vn

A. 100,500
B. 1,500
C. 500
D. Cannot tell

30. Which of the suggested answers is the best estimate of the number of Britons in their
mid-80s in 1995?
A. 516,350
B. 464,800
C. 92,960
D. Cannot tell

Page 9 of 9