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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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: 17708   |  Last updated: Sep 14, 2020
  • Sample Question
    What is stockholders' equity?

Questions: 10  |  Attempts: 6929   |  Last updated: Jun 25, 2020
  • Sample Question
    A source document is:

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: 7218   |  Last updated: Jun 16, 2020
  • Sample Question
    Which financial statement displays the revenues and expenses of a company for a period of time?

This quiz is to help you understand and enchance your learning of Chapter 1 Introduction to...

Questions: 25  |  Attempts: 2076   |  Last updated: Jan 29, 2013
  • Sample Question
    The Accounting Equation is  

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: 680   |  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.

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Accounting Questions & Answers

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 the difference between Accounting and Economic Profit?
When you don't have more understanding about some business terms, you are very liable to misinterpret those terms. What most people know about profit is actually the gain an investor generated after a successful transaction. Some don't know there are
What is the difference between Non-Profit and Not-for-Profit?
There are various organizations that work for humanitarian or educational reasons. The profit, which is generally referred to as surplus that these establishments earn, is not distributed among the trustees and shareholders. The profit, which is also
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