Top 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!

Accounting Questions and Answers

What is stockholders equity?

sales of products or services

owners' claims to resources

resources owned

costs of selling products or services

amounts owed

Accounting question from

Accounting, Test 1

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Whats revenue?

costs of selling products or services

expense to run business

sales of products or services

distributions to stockholders

Assets purchased to run business

Accounting question from

Accounting, Test 1

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What are expenses?

costs of selling products or services

Sales of products or services

Amounts owed

Distributions to stockholders

Owners' claims to resources

Accounting question from

Accounting, Test 1

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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.

Accounting question from

Managerial Accounting

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ERP systems capture:

only qualitative data

only quantitative data

both qualitative and quantitative data

the same information as a traditional accounting system

Accounting question from

Managerial Accounting

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An example of QUALITATIVE data is:

product cost

customer satisfaction

net income

operating costs

Accounting question from

Managerial Accounting

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

True

False

Accounting question from

Accounting Chapter 10-Quiz

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Income Summary has a normal debit balance.

True

False

Accounting question from

Accounting Chapter 10-Quiz

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Closing or clearning accounts refers to forcing temporary accounts to have zero balances.

True

False

Accounting question from

Accounting Chapter 10-Quiz

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Users of financial reports include all of the following except

creditors

government agencies

unions

all of the above

Accounting question from

Accounting Chapter 1

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The information provided by financial reporting pertains to

business industries, rather than to individual enterprises or an economy as a whole or to members of society as consumers.

individual business enterprises, rather than to industries or an economy as a whole or to members of society as consumers.

an economy as a whole and to members of society as consumers, rather than to individual enterprises or industries.

individual business enterprises, industries, and an economy as a whole, rather than to members of society as consumers.

Accounting question from

Accounting Chapter 1

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How does accounting help the capital allocation process attract investment capital?

Both B and D

Promotes productivity.

Encourages innovation.

Provides timely, relevant information.

Accounting question from

Accounting Chapter 1

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