Accounting Quizzes & Trivia

Do you think you are ready for our accounting quiz? Accountancy is a well respected profession and one which requires skill and vigilance, the qualities you will need for this quiz! What is accounting the language of? Who are the Big Four? Where did accounting first emerge? What was the Enron scandal? Can you name three different subfields of accounting? What is the difference between auditing and taxation? Do you think you know the answers to the questions?

These are just a sample of the questions you will face in our accounting quiz! So get your pen and paper out, maybe do a few calculations test yourself now! Do the right calculations and you may well come out on top! We wish you luck!

Top Trending

Accounting, Test 1

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 of funding and their treatment in the books of...

Questions: 7 | Attempts: 16159 | Last updated: Jun 16, 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

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: 6144 | Last updated: Jun 16, 2020

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

Accounting Source Documents Quiz

Questions: 10 | Attempts: 5534 | Last updated: Jun 25, 2020

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

Accounting Chapter 1 Vocabulary

If you are planning to be a successful accountant you must ensure you have all the vocabularies used in the field in your mind together with the meanings. Do you believe you know them all? Take up this very easy quiz and...

Questions: 16 | Attempts: 878 | Last updated: Jul 4, 2018

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

Accounting

Assets

Equities

Managerial Accounting

Study guide for test # 1 in managerial accounting, chapters 1-3.

Questions: 20 | Attempts: 3311 | Last updated: Aug 21, 2018

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.

Topics

Financial Accounting Quizzes

Accounting Principle Quizzes

Intermediate Accounting Quizzes

Banking Quizzes

Sales Quizzes

Money Quizzes

You May Also Like: Accounting Flashcards

Accounting Questions & Answers

What is the meaning of owner's equity? A. The difference between the total assets and total liabilities of a business2. A portion of total assets that has been bought using the owner’s...

Home equity is the market value of a homeowner’s interest in their real property. It is the difference between the home’s fair market value and the outstanding balance of all liens on the property. They also benefit from an increase in eq

What are the entries to revenues accounts such as Service Revenues usually called?

The answer to this question is definitely CREDIT. Think about a cash sale. Your cash will increase, so you debit cash; therefore, your entry on the revenue side MUST be credit. Revenue is also on the right side of the Accounting equation, where it ro

What is the difference between CAT and AAT?

CAT and AAT are two different qualifications. However, many people don’t know their differences. CAT is the acronym for Chartered Certified Accountant, and AAT is the acronym for Association of Accounting Technicians. Although both qualificatio

What is a source document?

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

Recently Updated

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: 1210 | 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

Accounting Questions: Trivia Exam! Quiz

Questions: 35 | Attempts: 1089 | Last updated: Jun 26, 2020

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

Liabilities

Equity

Losses

Profit

Accounting Chapter 10-quiz

Closing entries are like the finale to all financial reporting books. This is where journal entries meet at the end of the accounting period to transfer both permanent and temporary accounts. Did you understand how this...

Questions: 9 | Attempts: 1065 | Last updated: Jul 4, 2018

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

True

False

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: 862 | Last updated: Feb 12, 2020

Sample Question
What does DEBIT mean?

Decrease

Increase

Right side

Left side

Accounts Adjusting Entries Quiz

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

Questions: 40 | Attempts: 860 | Last updated: Aug 14, 2018

Sample Question
Which of the following is/are a 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

Quiz: Accounting Principle Trivia Questions

Welcome to the Accounting principle trivia questions. Every person who is studying and want to become a practicing accountant. Then it is expected to know the basic accounting principles by heart as they serve as a guideline on...

Questions: 20 | Attempts: 768 | Last updated: Sep 27, 2019

Sample Question
The main purpose of cost accounting is to

A. maximise profits

B. help in inventory valuation

C. provide information to management for decision-making

D. aid in the fixation of selling prices.

Accounting Chapter 1

Chapter 1 Accounting Questions. using for self-study.

Questions: 14 | Attempts: 719 | Last updated: Jan 10, 2013

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

Creditors

Government agencies

Unions

All of the above

Accounting Knowledge

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 compared to a large company. Test your knowledge of book...

Questions: 5 | Attempts: 698 | Last updated: Jul 4, 2018

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

Cash Transaction

Credit Transaction

Business Transaction

How Well You Know Accounting Principles? Trivia Quiz

Questions: 10 | Attempts: 680 | Last updated: Apr 13, 2020

Sample Question
These are items that will be held for more than one year and include the following: equipment, trucks, and buildings.

Accounts payable

Fixed assets

Current assets

Calendar year

Accounting 1 Final Exam

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: 636 | Last updated: Feb 26, 2019

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

Withdrawals

Accounting

Asset

Chart of Accounts

Acct 6343.01 Accounting For Governmental & Not-for-profit Entities

The accounting midterm exam is coming up and as promised these quiz consists of the first five true or false questions you will be expected to answer on 19/3/2918. Give them a try and continue with your revision for the...

Questions: 5 | Attempts: 621 | Last updated: Aug 1, 2018

Sample Question
The accounting standard setting authority for the federal government is the Governmental Accounting Standards Board (GASB).

True

False

Accounting 202 - Chapter 3.2

During manufacturing of a product different factors go into choosing what input to use during the manufacturing of a product. Take up this quiz on overhead costs when it comes to job costing and see if you are prepared for...

Questions: 11 | Attempts: 564 | Last updated: Jul 4, 2018

Sample Question
Which comes third in the flow of costs?

Cost of goods sold

Finished goods inventory

Raw materials inventory

Work in process inventory

Accounting Quiz6

Questions: 13 | Attempts: 531 | Last updated: Feb 15, 2013

Sample Question
A U.S. company has many foreign subsidiaries and wants to convert its consolidated financial statements from U.S. GAAP to IFRS. Which of the following items is not one of the likely accounting issues to resolve for the opening IFRS balance sheet?

Classifying deferred taxes as current or noncurrent.

Capitalizing development costs.

Acquisition value for a subsidiary.

Liability for restructuring charges.

Inventory valuation.

Accounting Quiz5

Are you looking for revision material for the upcoming accounting exam? This quiz is the fifth in a collection of practice quizzes that ensure your chances of failing are next to nil. Continue taking them and note down the...

Questions: 10 | Attempts: 512 | Last updated: Aug 1, 2018

Sample Question
In the United States, foreign companies filing annual reports with the SEC that are not prepared in accordance with U.S. GAAP must:

Have a demonstrated need for capital to be used for operations in the U.S.

Use the U.S. dollar as their reporting currency.

Present financial statements that comply with international GAAP.

Use IFRS, or use foreign GAAP and provide a reconciliation to U.S. GAAP.

Conform with U.S. GAAP or present a reconciliation to U.S. GAAP.

Chapter M3 Accounting

Questions: 30 | Attempts: 510 | Last updated: Jan 24, 2013

Sample Question
A document which is used to track how much an employee works on each job in a factory is called the:

Labor time ticket

Labor requisition

Job cost sheet

Payroll stubs

Accy 111- Chapter 8

Choose the right answer

Questions: 20 | Attempts: 426 | Last updated: Jan 15, 2013

Sample Question
In a perpetual inventory system, the cost of inventory sold is

Credit to Cost of Goods Sold

Debited to Accounts Receivable

Debited to Cost of Goods Sold

Not recorded at the time

Accounting Test 1 Review Quiz

As an accounting student you need to ensure that you are up to date with what you cover in class every day. Having just finished up topic four, this first quiz here helps you review all the topics and highlights what you need...

Questions: 18 | Attempts: 426 | Last updated: Jul 4, 2018

Sample Question
On January 1, 2006 Mammoth Corporation had retained earnings of $4,000,000. During 2006, they had net income of $750,000 and dividends of $100,000. What is the amount of Mammoth's retained earnings at the end of 2006?

4,000,000

4,450,000

4,650,000

4,850,000

None of the above is correct

Accounting Exam 2 Review

Exams give everyone a thought that they are not fully prepared. Having done a mock exam in class in preparation for the finals this review questions cover some concepts that you should ensure you understand fully. Give it a...

Questions: 5 | Attempts: 410 | Last updated: Jul 4, 2018

Sample Question
If goods in transit are shipped FOB destination,

The buyer has title to the goods until they are delivered.

The seller has title to the goods until they are delivered.

The shipper has title to the goods while they are in transit.

No one has title to the goods until they are delivered.

Chapter M4 Accounting

Questions: 25 | Attempts: 376 | Last updated: Jan 24, 2013

Sample Question
When the firm tests 9,000 components during the month, based on the information in Table M4-1, the amount of overhead applied during the period for the quality pool is:

$10,6440

$75,000

$13,500

$6,750

Introduction To Accounting

This quiz is intended to find out how much the students know about business from their daily experiences.

Questions: 3 | Attempts: 366 | Last updated: Jan 4, 2013

Sample Question
What is the primary reason why businesses are setup?

To provide jobs

To provide goods and services

To earn profits

To develope the community

The Ultimate Accounting Quiz!

What you see here is what is known as the Ultimate accounting quiz and most of the people who gunner over half the marks have what it takes to be certified in the field. Do you think you have what it takes to tackle it? Well,...

Questions: 34 | Attempts: 354 | Last updated: Jul 30, 2019

Sample Question
Which of these is not included as a separate item in the basic accounting equation?

Assets

Revenues

Liabilities

StockHolders Equity

« Previous12 3 4 5 6 7 8 9...12 Next »

Accounting Questions: Trivia Exam! Quiz

Question: | Attempts: 1089 | Last updated: Jun 26, 2020

Basic Financial Accounting Concepts! Quiz

Question: | Attempts: 1210 | Last updated: Jun 16, 2020

Tax Accounting Practice Test! Trivia Quiz

Question: | Attempts: 312 | Last updated: Jun 4, 2020

How Well You Know Accounting Principles? Trivia Quiz

Question: | Attempts: 680 | Last updated: Apr 13, 2020

ACCT 302: Accounting For Manufacturing Company Inventory! Trivia Quiz

Below is a quiz on ACCT 302: Accounting For Manufacturing Company Inventory! In a manufacturing company, the inventory consists of items such as property, goods in stock, or the contents of a building. They must all be accounted...

Question: | Attempts: 101 | Last updated: Mar 16, 2020

Quiz: How Well Do You Know About Accounting?

Question: | Attempts: 34 | Last updated: Mar 13, 2020

Quiz: Will You Pass This Accounting Test?

Question: | Attempts: 862 | Last updated: Feb 12, 2020

Accounting Quiz: Are You Ready To Take This Test?

Accounting quiz: are you ready to take this test? Accounting is all about proper transaction recording and the right journal truly and accurately. An accountant is expected to prepare a lot of financial statements and documents....

Question: | Attempts: 115 | Last updated: Feb 12, 2020

Quiz: Important Accounting Trivia Questions!

Question: | Attempts: 144 | Last updated: Dec 27, 2019

Cash Flow Statement Questions! Trivia Quiz

Question: | Attempts: 115 | Last updated: Dec 16, 2019

Accounting And Marketing Quiz Questions! Trivia Test

Question: | Attempts: 94 | Last updated: Dec 16, 2019

Acct1003 : Quiz On Cost And Management Accounting! Trivia Quiz

Below is an ACCT 1003 quiz on cost and management accounting. The cost and management perspective are comparative in the provision of data and analyses reports that can be used by managers to make decisions that will lead to long...

Question: | Attempts: 187 | Last updated: Dec 11, 2019

Test Your Accounting Concepts Knowledge! Trivia Questions Quiz

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...

Question: | Attempts: 37 | Last updated: Nov 19, 2019

Can You Pass This Accounting Test? Trivia Questions Quiz

Can You Pass This Accounting Test? Accounting is the practice of preparing records that show the financial position of an organization using the laid down standards both internationally and locally. Do you consider yourself a...

Question: | Attempts: 20 | Last updated: Nov 1, 2019

Quiz: Accounting Principles And Contingency Operations

AF FM SKY study questions.

Question: | Attempts: 151 | Last updated: Oct 23, 2019

Test On Simple, Compound Interest And Account Management! Trivia Quiz

Test on Simple, Compound Interest, and Account Management! There is a specific charge that is given up to someone who either purchases goods on credit, lease, or hires purchase. This trivia quiz is designed to show just how well...

Question: | Attempts: 10 | Last updated: Oct 21, 2019

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...

Question: | Attempts: 244 | Last updated: Oct 18, 2019

Test Your Knowledge About Expenses And Tax! Trivia Quiz

Test Your Knowledge about Expenses and Tax using this trivia quiz. Tax is the obligation that a resident of a country is expected to pay to the government. When it comes to expenses, there is a certain amount of tax that is...

Question: | Attempts: 15 | Last updated: Oct 17, 2019

Quiz: What Do You Know About Expense Approval Responsibilities?

What Do You Know About Expense Approval Responsibilities? When running a business, it is important to ensure that every procedure is cleared before it takes place, or else the business assets would be used inappropriately or some...

Question: | Attempts: 29 | Last updated: Oct 17, 2019

Trivia Quiz: What Do You Know About Expenses?

What Do You Know About Expenses? A business is formed when an exchange is made, and, in most cases, when a sale is made, there is a cost that a business incurs to ensure the service and goods offered are up to par, and these are...

Question: | Attempts: 113 | Last updated: Oct 17, 2019

Test Your Knowledge About Expenses! Trivia Quiz

Test Your Knowledge about Expenses in this Trivia Quiz. Expenses are a cost incurred for the operations of a business. In the test below, you will get tested on how to treat the different types of expenses that you may experience...

Question: | Attempts: 51 | Last updated: Oct 17, 2019

Trivia Quiz On Expense Reimbursement And Payments

Below is a Trivia Quiz on Expense Reimbursement and Payments. In business, there are times when payments are made, I advance or cash used for a different purpose other than the one expected. In the quiz below, you will test what...

Question: | Attempts: 6 | Last updated: Oct 16, 2019