Test Your Accounting Concepts Knowledge using this Trivia Questions Quiz. Accounting is a major department in any organization as it is tasked with collection, recording and use of funds as needed to meet the objectives of the organizations. Press the start button and get to see if you remember the concepts of a good accounting practice. All the best!
Revenue expenditures
Capital expenditures
Both
None of the above
Patents
Copyrights
Franchises or licenses
Trademarks or trade names
Co-ownership of property
Mutual agency
Limited life
Limited liability.
Patents
Copyrights
Franchises or licenses
None of the above
it is probable the contingency will happen, but the amount cannot be reasonably estimated.
It is reasonably possible the contingency will happen, and the amount can be reasonably estimated..
It is probable the contingency will happen, and the amount can be reasonably estimated..
It is reasonably possible the contingency will happen, but the amount cannot be reasonably estimated
True
False
True
False
True
False
True
False
True
False