Accounting Quizzes & Trivia

Accounting is necessary to predict and measure the growth of a business. With the requirement of this important function for any business, you should stay abreast of the terms and formulas required for it. Try our interesting online accounting quizzes that will help you learn the basics with every question you attempt.

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Conceptual Framework Quiz: Exam

Questions: 41 | Attempts: 61925 | Last updated: Nov 16, 2020

Sample Question
The purpose of the Conceptual Framework is:

To assist the International Accounting Standards Board to develop IFRS Standards

To assist preparers of IFRS financial statements to develop consistent accounting policies when no IFRS Standard applies to a particular transaction or other event, or when a Standard allows a choice of accounting policy

To assist all parties to understand and interpret IFRS Standards

All of the above

Accounts Questions Test Quiz! Trivia

Do you know how to answer accounts questions? Would you be able to pass this quiz? According to this quiz, you must be aware of where bills payable is shown, what is considered an asset, what is a liability, what is the meaning...

Questions: 50 | Attempts: 4182 | Last updated: May 26, 2021

Sample Question
Bills Payable A/c is shown in the balance sheet under the head.

Provision

Reserves & Surplus

Secured loans

Current liabilities

Earnings Management In Accounting Quiz!

What is earnings management in accounting? Earnings management is a way of manipulating financial records to improve the appearance of the company’s financial position. Businesses use earnings management to present...

Questions: 9 | Attempts: 1683 | Last updated: May 19, 2021

Sample Question
What other names are given to earning management?

Income Smoothing

Borrowing from the future

Aggressive accounting

All of the above

Accounting Source Documents Quiz

Questions: 10 | Attempts: 9451 | Last updated: Jan 4, 2021

Sample Question
A source document is:

The origin of the information that is recorded into the accounting books

The origin of the information that is taken from the accounting books

Not the origin of information that is recorded into the accounting books

A Quick Accounting Knowledge Quiz!

Are you ready for a quick account knowledge quiz? For a business to prosper, what they need most is funding which can come through investments, cash or selling their shares. What do you understand about these different types...

Questions: 8 | Attempts: 20385 | Last updated: Sep 14, 2020

Sample Question
What is stockholders' equity?

Sales of products or services

Owners' claims to resources

Resources owned

Costs of selling products or services

Amounts owed

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Fundamentals Of Accounting Test Quiz!

Fundamentals of Accounting Test Quiz!

Accounting is a tool to record and analyze the financial condition and performance of the business. Some people simply can’t understand the stats and figures. But some possess deep knowledge and concepts about...

Questions: 10 | Attempts: 9199 | Last updated: Jul 7, 2021

Sample Question
Which financial statement displays the revenues and expenses of a company for a period of time?

Income Statement

Balance Sheet

Cash Flow Statement

Statement of Stockholder's Equity

Quiz: Managerial Accounting MCQ Exam!

Questions: 20 | Attempts: 4009 | Last updated: Feb 12, 2021

Sample Question
Which of the following is NOT true regarding ERP?

It integrates traditional accounting information systems with other information systems.

It can be customized to provide specific and relevant information to different types of users.

It has evolved in the past few years to address the shortcomings of traditional accounting information systems.

It captures quantitative but not qualitative information.

Exam: Introduction To Accounting Quiz!

Exam: Introduction to Accounting Quiz!

Questions: 25 | Attempts: 3387 | Last updated: Feb 12, 2021

Sample Question
The Accounting Equation is

Owner's Equity = Assets + Liabilities

Assets = Liabilities - Owner's Equity

Assets = Liabilities + Owner's Equity

Basic Financial Accounting Concepts! Quiz

Financial Accounting means to analyze, summarize, and record financial transactions as well as to show an accurate picture of the financial affairs of the company. This basic quiz has been developed to test your knowledge of...

Questions: 10 | Attempts: 3044 | Last updated: Jun 16, 2020

Sample Question
How is the income statement affected when a company issues stock?

Income is greatly effected.

No income statement effect. Purely balance sheet.

Balance sheet is not effected

One thru three are all correct

None of the above

Accounts Adjusting Entries Quiz Exam!

The accounts department is one of the most important in an organization. An organization has a lot of transactions that lead to a change in the status of a company. Today we covered how to adjust different entries in the...

Questions: 40 | Attempts: 2862 | Last updated: Jul 7, 2021

Sample Question
Which of the following is/are the purpose of adjusting entries?

To update the accounts in the books

To apply the matching principle

To properly reflect the the correct net income

To make the equation A=L+OE more accurate

All of the above

Accounting Ultimate Exam Quiz! Trivia

Accounting is one of the important functions in any business as it helps to trace how funds are used and the effect of the transaction on the financial position of a business. How skilled do you think you are as an accountant?...

Questions: 14 | Attempts: 2472 | Last updated: Oct 5, 2020

Sample Question
Users of financial reports include all of the following except

Creditors

Government agencies

Unions

All of the above

Accounting 201 - Chapter 4 Review Test Quiz

Welcome to chapter 4 of the Accounting 201 quiz. There are some rules that every accountant should follow when preparing financial statements and are laid down in form of concepts. Are you familiar with the basic accounting...

Questions: 31 | Attempts: 2100 | Last updated: Dec 24, 2020

Sample Question
When preparing a bank reconciliation, which of the following items should be subtracted from the bank balance?

Deposits in transit

Bank service charges

EFT cash receipts

Outstanding checks

Accounting Exam: Basic Principles! Quiz

There are some basic principles that every accountant needs to be aware of when it comes to accounting practices. Have you just begun your accounting course and have the final exam in less than a week? If so, then this Accounting...

Questions: 7 | Attempts: 2053 | Last updated: Oct 22, 2020

Sample Question
Planning, recording, analyzing, and interpreting financial information is called...

Withdrawals

Accounting

Asset

Chart of Accounts

Quiz: Fundamental Concepts And Principles In Accounting

Quiz: Fundamental Concepts and Principles in Accounting

1. Define accounting and know its purpose. 2. Differentiate the types of business organizations. 3. Distinguish the different types of business operations. 4. Know and appreciate the basic accounting principles used in the...

Questions: 14 | Attempts: 1994 | Last updated: Oct 18, 2019

Sample Question
All business transactions that will be entered in the accounting records must be fully supported by verifiable evidence.

Historical Cost

Objectivity

Conservatism (Prudence)

Accrual Principle

Full Disclosure

Consistency

Accrual Accounting F5 Quiz

Accrual accounting F5 Quiz

Questions: 25 | Attempts: 1906 | Last updated: Nov 24, 2020

Sample Question
According to the FASB, a company that wishes to comply with GAAP will use:

The cash basis, since the accrual basis takes the focus off of the company’s cash flows

Either basis, depending on which results the company wants to give to financial statement users

The cash basis of accounting for small companies only

The accrual basis of accounting

Accounting Test: Vocabulary Quiz!

Questions: 16 | Attempts: 1866 | Last updated: Feb 12, 2021

Sample Question
Planning, recording, analyzing, and interpreting financial information.

Accounting

Assets

Equities

TOA Accounting Concepts Exam Quiz!

Questions: 24 | Attempts: 1759 | Last updated: Jul 7, 2021

Sample Question
Which of the following statements is/are true?I. Accounting is a service activity intended to fulfill a useful function in societyII. Accounting involves the art of recording, classifying and summarizing transaction and events, and interpreting the results thereof.III. Accounting is an art but not a scienceIV. Accounting provides quantitative financial information intended to be useful in making economic decisions

I, II, III, IV

I, II, III

I, II, IV

II, III, IV

A Quick Accounting Knowledge Quiz Part II

Welcome to part II of A Quick Accounting Knowledge Quiz. Book keeping is very essential to any business that wants to keep track of its costs and income. The process does not look so complicated in a sole proprietorship when...

Questions: 8 | Attempts: 1558 | Last updated: Jul 7, 2021

Sample Question
Bookkeeping is a systematic method of recording the __________ in the books of accounts

Cash Transaction

Credit Transaction

Business Transaction

International Accounting Standards: Quiz!

Questions: 14 | Attempts: 1539 | Last updated: Jul 7, 2021

Sample Question
What are the two key criteria for an item of property, plant & equipment to be “recognized” as an asset?

When it can be reliably measured

When it is controlled by the entity

When it is probable that economic benefits will flow to the entity from the asset

When it has a residual value

Accounting Questions: Trivia Exam! Quiz

Can you answer these accounting questions, and would you be able to pass this quiz? Accounting is recording financial transactions and storing, sorting, retrieving, summarizing, and presenting the results in various reports and...

Questions: 35 | Attempts: 1401 | Last updated: Feb 25, 2021

Sample Question
What is another term used by accountants for the word "assets?"

Liabilities

Equity

Losses

Profit

Accounting Chapter 10 Closing Entries

Chapter 10 is a review of Closing Entries.

Questions: 35 | Attempts: 1395 | Last updated: Jul 7, 2021

Sample Question
Permanent accounts are found on the Balance Sheet section of the work sheet.

True

False

Quiz On Accounting - Chapters 1- 4

Quiz on Accounting - Chapters 1- 4

This test requires a lot of studying on the students’ part. The multiple answer questions given-below make it easier for one to revise and refresh their memory on what they have learnt so far. If you believe in yourself and...

Questions: 34 | Attempts: 1377 | Last updated: Nov 18, 2020

Sample Question
To record revenue and expenses is the role of the...

Income statement

Balance Sheet

Net worth

Accounting statement

Advanced Financial Accounting Exam Quiz!

Questions: 10 | Attempts: 1371 | Last updated: Feb 12, 2021

Sample Question
What is the basic principle for measuring inventories?

Inventories shall be measured at the lower of cost and value in use.

Inventories shall be measured at the lower of fair value and value in use.

Inventories shall be measured at the lower of fair value and net realizable value.

Inventories shall be measured at the lower of cost and net realizable value.

Accounting For Leases Quiz Questions

accounting for leases quiz questions

Questions: 29 | Attempts: 1324 | Last updated: Jul 7, 2021

Sample Question
21. Major reasons why a company may become involved in leasing to other companies is (are)

Interest revenue

High residual values

Tax incentives

All of these

Quiz: Will You Pass This Accounting Test?

Quiz: Will you pass this accounting test?

Quiz: will you pass this accounting test? One of the main rules for every accounting transaction is that for every debit in one account, there must be a corresponding credit in another account. The quiz below is designed to help...

Questions: 10 | Attempts: 1222 | Last updated: Feb 12, 2020

Sample Question
What does DEBIT mean?

Decrease

Increase

Right side

Left side

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Accounting Quiz For Starters

Struggle to study accountancy? Well, it is not that difficult, especially if you know the basics. This is an accounting quiz designed to clear some fundamental doubts and clear the basics of accounting. Share this quiz with your...

Question: | Attempts: 1053 | Last updated: Jul 21, 2021

Mega Accounting Test

Learn everything from A to Z about Accounting in this quiz. As you learn more in the field of accountancy, the need to take up proper revision also increases. The quiz below is designed to help you pass the accounting tests...

Question: | Attempts: 978 | Last updated: Jul 21, 2021

Your Accounting Skill Test

As an accounting student, you need to ensure that you are up to date with what you study. This accounting test is specially created to test your accounting skills with intermediate level questions. Only the brightest of...

Question: | Attempts: 382 | Last updated: Jul 21, 2021

Evolutionary Science Quiz

Evolution or the change in characteristics of populations over millions of years is an important aspect of our human history and studying evolution can help us foresee our future. This is why evolutionary science is an important...

Question: | Attempts: 63 | Last updated: Jul 20, 2021

Financial Accounting: Sales, Marketing And Customer Service Quiz!

Question: | Attempts: 17 | Last updated: Jul 8, 2021

Accounting Chapter 7 Definitions Quiz

Definitions part 2

Question: | Attempts: 20 | Last updated: Jul 8, 2021

Managerial Accounting Chapter 5 & 6

Question: | Attempts: 37 | Last updated: Jul 8, 2021

Prelim Accounting1-1st Semester Sy 2018-2019

Prelim Accounting1-1st Semester SY 2018-2019

Question: | Attempts: 33 | Last updated: Jul 8, 2021

Ch. 3 Accounting Terms

Definitions

Question: | Attempts: 36 | Last updated: Jul 8, 2021

Fundamental Of Accounting Quizlet - 1

Fundamental of Accounting Quizlet - 1

Question: | Attempts: 36 | Last updated: Jul 8, 2021

ACCY 111 Chapter 7 Part 2

Accy 111 Chapter 7 Part 2

CHoose the best word for each definition

Question: | Attempts: 37 | Last updated: Jul 8, 2021

12 Accounting - December 3, 2015

Basic accounting entails knowing what is being debited and what is being credited to an account. Other than that there is knowledge of how to treat the different transactions in the company’s books. Test your basic...

Question: | Attempts: 37 | Last updated: Jul 8, 2021

Accounting Quiz 1 Chapters 1-2

accounting quiz 1 chapters 1-2

Different costs are incurred during the manufacturing of products and are transferred to the consumer in the process. Do you have a good understanding of this cost and how do we account for them as accountants? Take up the...

Question: | Attempts: 47 | Last updated: Jul 8, 2021

C02-accounting Scene - Quiz 1

C02-Accounting Scene - Quiz 1

Topic - Accounting Scene from Fundamentals of Financial Accounting - C02 This quiz consists of 5 objective type questions. Duration - 5 minutes Marking - 1 mark for correct answer. No negative marking.

Question: | Attempts: 47 | Last updated: Jul 8, 2021

Accounting 1 (Summer 2018)

ACCOUNTING 1 (SUMMER 2018)

Hello Class! Congrats for making it to this point. Please give this your best shot! Good Bless!

Question: | Attempts: 50 | Last updated: Jul 8, 2021

Accounting Chapter One Quiz

Question: | Attempts: 54 | Last updated: Jul 8, 2021

Accounting Practice Exam (4) - Part III

Again, Ms Sherry Ross at TxState prepared this! :)

Question: | Attempts: 59 | Last updated: Jul 8, 2021

Accounting Test 2 Practice

Question: | Attempts: 55 | Last updated: Jul 8, 2021

Test Your Knowledge On Accounting

Test your knowledge on Accounting

Take this quiz to learn more Account.

Question: | Attempts: 60 | Last updated: Jul 8, 2021

Business Accounting - Tutor MS. Thuyen Ngo

Business Accounting - Tutor Ms. Thuyen Ngo

Hoa Sen Manchester Program - Tutor: Ms. Thuyen Ngo

Question: | Attempts: 88 | Last updated: Jul 8, 2021

Quick Fire [assets, Liabilities, Expenses, Equity, Income] Ncea Lvl 1 Accounting

Quick Fire [Assets, Liabilities, Expenses, Equity, Income] NCEA Lvl 1 Accounting

Statement of Financial Position / Balance Sheet Sonny Bill Williams LTD - For the Year Ended 31 March 31/03/Infinity [we hope] Is Sonny Bill Williams an Asset or a Liability? mmmm

Question: | Attempts: 116 | Last updated: Jul 8, 2021

A Quiz That'll Add To Your Knowledge Of Accounting

A quiz that'll add to your knowledge of Accounting

Trading, profit and loss account shows the income and expenditure of a company and this will define the financial position on whether the company is making a profit or incurring some losses. This information will help the...

Question: | Attempts: 114 | Last updated: Jul 8, 2021

Financial Accounting Test 2

This Quiz is to test your accounting information, its an advanced questions. After you finish, you will review your answers before submit and then you will get your result with analysis & correct answer. Financial...

Question: | Attempts: 116 | Last updated: Jul 8, 2021

International Accounting - Ch 9

IFRS focus on accounting for inflation, consolidations, and segment reporting contrasted with U.S. GAAP Basef on chapter 9 of the textbook International Accounting 3rd edtion by Doupnik and Perera

Question: | Attempts: 122 | Last updated: Jul 8, 2021

What Do You Know About Cost Accounting

Cost accounting is a process of classifying, recording, analyzing summarizing, evaluating and assigning different courses of action for cost control. With that point made, how well ro you think you'll pass this quiz.

Question: | Attempts: 123 | Last updated: Jul 8, 2021