Basic Accounting Questions And Quiz

10 Questions

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Accounting Quizzes & Trivia

Take this quick interactive quiz to test your knowledge on basic accounting questions. Let's start this quiz now, all the best!


Questions and Answers
  • 1. 
    The accounting equation is Assets + Liabilities = Owners Equity
    • A. 

      True

    • B. 

      False

  • 2. 
    • A. 

      True

    • B. 

      False

  • 3. 
    • A. 

      Revenue, Expense and Cost

    • B. 

      Costs, Liabilities and Assets

    • C. 

      Assets, Owners Equity and Liabilities

    • D. 

      Assets, Expense, and Owners Equity

  • 4. 
    Expenses have a Debit Normal Balance Side
    • A. 

      True

    • B. 

      False

  • 5. 
    Assets are listed on an Income Statement
    • A. 

      True

    • B. 

      False

  • 6. 
    Posting the Account refernce number is that last step to posting
    • A. 

      True

    • B. 

      False

  • 7. 
    You need to be good at math to be an accountant
    • A. 

      True

    • B. 

      False

  • 8. 
    The first step to a Journal Entry is the Debit
    • A. 

      True

    • B. 

      False

  • 9. 
    Owners Equity has a credit normal balance side
    • A. 

      True

    • B. 

      False

  • 10. 
    Cash is a/an
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owners Quity