Accounting Principle Quizzes & Trivia

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What better way to test your knowledge of the ins and outs of accounting principle than awesome accounting principle quizzes? Test yourself and share these accounting principle quizzes with your friends and peers. Enhance your knowledge about accounting principle and learn something completely new by answering these insightful quiz questions. You can even get insights into creating awesome quizzes of your own with these accounting principle quizzes.

Each and every accounting principle quiz here has well-researched and interesting quiz questions that test your grasp of the subject. You can easily learn something new about accounting principle with every question you attempt.


A quiz on basic accounting principles and concepts

Questions: 13  |  Attempts: 311
  • Sample Question
    What is the entity concept?

Business structures around the globe are based on certain set standards that make them feasible to accommodate to the regulations without falling for the tripwire of untoward business developments. Various organizations across...

Questions: 8  |  Attempts: 115
  • Sample Question
    Principle of Utmost Good Faith or “uberrimae fidei” in Latin, can be considered a general principle of GAAP.



Questions: 18  |  Attempts: 108
  • Sample Question
      21.     Accounting changes are often made and the monetary impact is reflected in the financial statements of a company even though, in theory, this may be a violation of the accounting concept of

Revision of Accounting theory covered in Tutorial Number 1.

Questions: 20  |  Attempts: 103
  • Sample Question
    Who are the three main accounting bodies in Austrailia? 

A Quiz in the basics of Genral Accounting Priniciples which are considered to be the main blood line for maintenance of the records. GAAP'S are issued by FASB and are implemented by SEC in U.S.

Questions: 20  |  Attempts: 89
  • Sample Question
    The personal assets of the owner of a company will not appear on the company's balance sheet because of which principle/guideline?




Accounting Principle Questions and Answers


  • What is the entity concept?
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  • What is the matching principle?
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  • Which concept states that "You have to report accounting info at regular intervals?"
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  • Principle of Utmost Good Faith or “uberrimae fidei” in Latin, can be considered a general principle of GAAP.
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  • The International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called:
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  •   21.     Accounting changes are often made and the monetary impact is reflected in the financial statements of a company even though, in theory, this may be a violation of the accounting concept of
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  •   22.     Which of the following is not treated as a change in accounting principle?
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  •   23.     Which of the following is not a retrospective-type accounting change?
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  • Who are the three main accounting bodies in Austrailia? 
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  • Which is the accounting method required to be used for Financial Statements in Australia?
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  • Select the three different types of businesses that operate in Australia.
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