Account Quizzes & Trivia

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Questions: 5  |  Attempts: 87   |  Last updated: Jan 8, 2018
  • Sample Question
    A company purchases all goods on credit. The following payables ledger control account contains some errors: Payables ledger control account Debit             $ Purchases 963,200 Discounts received 12,600 Contras with amounts receivable in receivables ledger 4,200 Closing balance 410,400 –––––––– 1,390,400 ———— Credit                         $ Opening balance 384,600 Cash paid to suppliers 988,400 Purchases returns 17,400 –––––––– 1,390,400 ———— What should the closing balance be when the errors have been corrected?

A test that queries various random questions that are designed to test your knowledge on a specific subject matter like accounts. It might not be as easy as you think but just try it out to see how you will do.

Questions: 10  |  Attempts: 674   |  Last updated: Aug 24, 2017
  • Sample Question
    A company has adopted Statement of Financial Accounting Standards No. 115, Accounting for CertainInvestments in Debt and Equity Securities (as amended by SFAS 130). It should report the marketableequity securities that it has classified as trading at:

While travelling, you will seek room services and check into hotels. At the end of it, you will need to pay and settle your bills. In this quiz, we look at the different types of account settlement. Enjoy!

Questions: 8  |  Attempts: 263   |  Last updated: Feb 7, 2018
  • Sample Question
    The responsibility for collecting a direct billing lies with:



Questions: 10  |  Attempts: 223   |  Last updated: Jan 24, 2017
  • Sample Question
    Barbara Jackson is calling because she wanted to register her husband’s account to our Winter Promotion. She have Mr. Jackson’s member number. What procedure will you follow? 



Questions: 10  |  Attempts: 609   |  Last updated: Dec 2, 2014
  • Sample Question
    Per payment type a separate batch needs to be set up.

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Account Questions & Answers


What can be transferred from one user to another user during a mass transfer of accounts records?
1. open activities-2. open cases-3. closed cases-transfer open opportunities not owned by the existing account ownertransfer closed opportunitiestransfer open cases owned by the existing account ownertransfer closed casesthis screen allows you to tra
What is the meaning of "hair cut" in Basel II?
It hasn’t been so long ago that banks were in trouble. I believe it was around 2008. Also don’t forget about the Great Depression and the run on banks back then. No one wants to ever see that happen again. That’s why there have been
How is biotechnology being used?
First, it is important to what biotechnology means. Biotechnology refers to the use of living organisms, especially microorganisms in industrial, agricultural, medical, and other technological applications. It simply refers to the application of prin
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