Accounting Quizzes, Questions & Answers

Recent Quizzes

This quiz on Subsidiary Books assesses knowledge on recording credit purchases, differentiating information in ledgers, preparing cash books, managing petty cash, and handling sales returns. Essential for learners in accounting...

Questions: 39 | Attempts: 2291 | Last updated: Mar 20, 2023

Sample Question
Purchases book records:

All cash purchases.

Ail credit purchases.

Credit purchases of goods in trade.

None of the above.

Depreciation Accounting Hardest Test! Quiz

Do you know anything about depreciation accounting? Do you believe you can pass the quiz? To calculate depreciation, you should use the straight-line method. Subtract the salvage amount from the asset cost and divide the...

Questions: 158 | Attempts: 1415 | Last updated: Mar 22, 2023

Sample Question
The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as ___________.

Unit life

Useful life

Production life

Expected life

Bills Of Exchange Exam Quiz!

The 'Bills Of Exchange Exam Quiz!' assesses understanding of financial instruments, specifically bills of exchange. It covers calculation of due dates, endorsement processes, and dishonour scenarios, essential for professionals...

Questions: 173 | Attempts: 907 | Last updated: Oct 18, 2023

Sample Question
On 1.1.05 X draws a bill on Y for Rs.20,000 for 3 months. Due date of the bill will be:

1.4.05

3.4.05

4.4.05

4.5.05

Double Entry Accounting Trivia Quiz

Have you been studying accounting? If yes, then it should not be a problem for you to pass this double entry accounting trivia quiz. Double-entry accounting is known as a system that needs two book entries — one debit and...

Questions: 10 | Attempts: 6776 | Last updated: Sep 30, 2024

Sample Question
Which of the following statements about double-entry accounting is incorrect?

Every transaction affects at least two accounts.

Debits always increase an account balance, while credits always decrease it.

The accounting equation (Assets = Liabilities + Equity) must always be in balance.

Double-entry bookkeeping helps in detecting errors and preventing fraud.

Test Your Knowledge About Billing And Invoice! Trivia Quiz

Test your Knowledge about Billing and Invoice! Trivia Quiz

Are you looking for a way to test your knowledge about billing and invoicing? There are different types of invoices that can be given out, and they are differentiated by checking the contents. A wrong bill can lead to a lot of...

Questions: 5 | Attempts: 1340 | Last updated: Mar 21, 2023

Sample Question
What is the difference between a collective billing document and an individual billing document?

A collective document is for multiple deliveries, an individual document is a single invoice for a single delivery.

A collective document is for 1 delivery, an individual document is for a group of deliveries combined in a single invoice.

A collective document is a template used for a collection of vendors; an individual document is for a one-time purchase from a new vendor.

None of the above.

Test Your Accounting Basics: Quiz!

Test your Accounting Basics: Quiz!

Dive into the essentials of accounting with this interactive quiz! Explore key concepts like revenue recognition, the accrual basis of accounting, and proper adjusting entries. Perfect for beginners looking to understand the...

Questions: 8 | Attempts: 380 | Last updated: Mar 20, 2023

Sample Question
The revenue recognition concept:

Controls all revenue reporting for the cash basis of accounting

Determines when revenue is credited to a revenue account

Is in not in conflict with the cash method of accounting

Accounting Loves You!

Accounting loves you!

Created for Anoush! This quiz has 15 questions. Select an answer, if you don't know it, take a guess! Each question is worth 1.5 marks.

Questions: 25 | Attempts: 360 | Last updated: Mar 22, 2023

Sample Question
What term is used to describe factors in a decision problem that cannot be expressed effectively in numerical terms?

Qualitative

Quantitative

Sensitive

Uncertain

Changes In Accounting Principle Quiz Questions

changes in accounting principle quiz questions

This quiz focuses on changes in accounting principles, assessing understanding of consistency, depreciation methods, inventory valuation, and required disclosures. It is designed for learners to grasp complex financial reporting...

Questions: 18 | Attempts: 650 | Last updated: Mar 21, 2023

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

A. materiality.

B. consistency.

C. conservatism.

D. objectivity.

Chapter 3 Quiz (Accounting)

This Chapter 3 Quiz in Accounting covers key concepts such as the identification of source documents, understanding the structure of general journals, and the chronological order of transactions. It assesses the learner's ability...

Questions: 15 | Attempts: 621 | Last updated: Mar 22, 2023

Sample Question
The source document for cash payments is a(n):

Invoice

Receipt

Calculator Tape

Check

Accounting MCQ: Practice Quiz Questions!

This Accounting MCQ Practice Quiz assesses key financial concepts, including cost-volume-profit analysis, break-even points, and income statement classifications. It's ideal for learners aiming to enhance their understanding of...

Questions: 25 | Attempts: 469 | Last updated: Mar 22, 2023

Sample Question
The analysis of the relationship between what a company buys an item for and the level of sales and their impact on income is known as:

Cost-volume-loss analysis

Cost-sales-expense analysis

Cost-volume-profit analysis

Expense-sales-volume analysis

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