Accounting Quizzes, Questions & Answers

Recent Quizzes

Accounting is the development and use of a system for recording and analyzing the transactions and financial status of a business or other organization. Every business must have a system of keeping their records of their...

Questions: 44 | Attempts: 282 | Last updated: Mar 21, 2023

Sample Question
The . budget is a major part of the master budget and focuses on the income statement and it's supporting schedules.

Operating

Cash

Capital Expenditures

Financial

Accounting Review Quiz For Final Project

Accounting Review Quiz for Final Project

The Accounting Review Quiz for Final Project assesses understanding of fundamental accounting principles. It includes evaluating the basic accounting equation, analyzing balance sheet reports, and preparing income statements....

Questions: 5 | Attempts: 151 | Last updated: Apr 23, 2024

Sample Question
The basic accounting equation is

Assets + Revenue = Profit

Assets + Liabilities = Owner's Equity

Revenue + Assets + Owner`s Equity

Assets = Liabilities + Owner's Equity

Accounting Quiz: Test MCQ!

Dive into the complexities of international accounting standards with this Accounting Quiz! Test your knowledge on IFRS, U.S. GAAP, and their impact on global financial reporting. This quiz is ideal for learners looking to...

Questions: 10 | Attempts: 712 | Last updated: Aug 28, 2024

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.

Accounting Trivia Quiz: Test Your Basics!

Accounting Trivia Quiz: Test your Basics!

Dive into the basics of accounting with the 'Accounting Trivia Quiz: Test your Basics!' Explore key concepts such as translation, remeasurement, and functional currency. Ideal for beginners and professionals looking to refresh...

Questions: 10 | Attempts: 259 | Last updated: Mar 19, 2023

Sample Question
In accounting, the term translation refers to:

A procedure to prepare a foreign subsidiary’s financial statements for consolidation.

The calculation of gains or losses from all transactions for the year

The calculation of exchange rate gains or losses on individual transactions in foreign currencies.

The calculation of gains or losses from hedging transactions.

The procedure required to identify a company's functional currency.

Cash Flow Statement Questions! Trivia Quiz

Explore the intricacies of cash flow statements with this trivia quiz! Dive into questions about activities reported in cash flow statements, different types of financial activities, and practical scenarios to calculate net cash...

Questions: 74 | Attempts: 768 | Last updated: Mar 21, 2023

Sample Question
All of the following activities are reported on the statement of cash flows except:

Marketing activities

Investing activities

Operating activities

Financing activities

Hi-1011-chapters 20 & 21- Accounting And Bookeeping/Banking Services Procedures

HI-1011-Chapters 20 & 21- Accounting and Bookeeping/Banking Services Procedures

This quiz covers key topics in accounting and bookkeeping, specifically for Chapters 20 & 21, focusing on procedures in banking services. It assesses understanding of financial summaries, error detection techniques, the use of...

Questions: 20 | Attempts: 267 | Last updated: Mar 20, 2023

Sample Question
Which one of the following would not be entered on a financial summary

How much was earned

How much time was spent on procedures

How much money has been collected

How much money has been earned

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: 687 | Last updated: Mar 22, 2023

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.

International Accounting Test!

The 'International Accounting Test!' assesses knowledge on global accounting standards including IFRS and IAS, interpretation committees, and cultural impacts on accounting practices. It's designed for learners to understand...

Questions: 47 | Attempts: 1764 | Last updated: Nov 17, 2023

Sample Question
What does IFRIC stand for?

International Financial Reporting Issues Committee

International Financial Recommendation and Interpretations committee

International Financial Reporting Interpretation Committee

International Financial Reporting Issues Council

Mega Accounting Test

Learn everything from A to Z about Accounting in this quiz. As you learn more in the field of accountancy, the need to take up proper revision also increases. The quiz below is designed to help you pass the accounting tests...

Questions: 36 | Attempts: 1348 | Last updated: Mar 21, 2023

Sample Question
A credit sale of $750 is made on June 13, term 2/10, net/30. A return of $50 is granted on June 16. The amount received as payment in full on June 23 is:

$700

$650

$686

$685

Rakap Accounting Test 1

rakap Accounting Test 1

Accounting is a fairly broad term given to the measurement, processing and communication of financial information about economic entities. Do you know as much as you probably should on the practice? Let’s take a look!

Questions: 45 | Attempts: 110 | Last updated: Mar 14, 2024

Sample Question
. Which of the following is true about foreign direct investment? .

According to the United Nations, it is increasing on several dimensions

Since the 1980's foreign direct investment has been relatively stable worldwide

Only very large corporations are undertaking foreign direct investment

Foreign direct investment refers only to the amount of money U.S. corporations put into non-U.S. businesses.

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