Accounting Quizzes, Questions & Answers

Recent Quizzes

The Financial Statements! Ultimate Trivia Quiz

The financial statements ultimate trivia quiz. There are different types of financial statements prepared by accountants and each of them is designed to explain position of the company when it comes to different topics. Do you...

Questions: 10 | Attempts: 1854 | Last updated: Mar 22, 2023

Sample Question
Which of the following income/expense will not show up on the Cash Flow Statement?

Purchase of Goods

Sale of Equipment

Dividends

Depreciation

Wyrnkaa - Chapter 3 Review Questions

WYRNKAA - Chapter 3 Review Questions

This quiz will test your understanding of the material covered in the third chapter of "What You Really Need to Know About Accounting". Visit http://www.notforaccountants.com/learning-tools.php for more...

Questions: 10 | Attempts: 96 | Last updated: Feb 6, 2024

Sample Question
What are the three sections of the Balance Sheet?

Assets, Expenses, and Equity

Assets, Equity, and Net Cash

Assets, Accounts Payable, and Retained Earnings

Assets, Liabilities, and Equity

C&g Computerised Accounts - Level 2

C&G Computerised Accounts - Level 2

You have completed the computerised accounts level 2 course. This is your end of the course review.

Questions: 10 | Attempts: 97 | Last updated: Jul 10, 2024

Sample Question
You are preparing a sales invoice and goods totals comes to £500.00, If the VAT rate is 17.5%, what is the VAT amount to be added to the invoice?

£87.50

£90.60

£82.60

£117.50

Computerised Accounting Quiz: Test!

Have you ever heard of computerized accounting? Computerized accounting system is made up of diverse controls, activities, and methods for the summarization, classification, recording, and assembly of financial information to...

Questions: 10 | Attempts: 947 | Last updated: Aug 22, 2024

Sample Question
You make a cash sale for £200 (No VAT). Which of the following pairs of nominal accounts are affected?

Rent Account and Bank Account

Cash Account and Sales Account

Sales Account and Trade Debtors Account

Purchases Account and Bank Account

Final Review Combined F

Final Review Combined F assesses key financial concepts through questions on bond redemption, debt to equity ratios, income statement analysis, and gross margin relevance. It's designed to test understanding of fundamental...

Questions: 127 | Attempts: 173 | Last updated: Jun 3, 2024

Sample Question
If a bond is sold at par value for $1,000, has a life of 5 years, and a contract rate of 8%, how much will have to be paid to redeem the bond on its maturity date?

$ 80

$1,000

$920

$400

Characteristics Of Straight-line Depreciation F7 Quiz

characteristics of straight-line depreciation F7 Quiz

When it comes to long term assets such as machines their ability to perform like they did when they were new depreciation is a factor that most companies need to keep an eye on. This cost is covered in the income statement, and...

Questions: 25 | Attempts: 417 | Last updated: Mar 19, 2023

Sample Question
When a depreciable asset is sold for exactly its book value, the company:

Will remove the cost of the asset and its accumulated depreciation from the accounting records

Will not recognize any gain or loss

Answers a and b are both correct.

Will make no adjustment on the books because the transaction cancels itself out

Accrual Accounting MCQ Quiz Questions And Answers

Accrual Accounting MCQ quiz questions and answers

Get ready to test your knowledge with these Accrual Accounting MCQ quiz questions and answers that we have here for you. The quiz below has a few questions that you need to answer correctly. The quiz is also a good way to enhance...

Questions: 25 | Attempts: 6677 | Last updated: Jan 13, 2025

Sample Question
According to the FASB, a company that wishes to comply with GAAP will use:

The cash basis, since the accrual basis, takes the focus off of the company’s cash flows

Either basis, depending on which results in the company wants to give to financial statement users

The cash basis of accounting for small companies only

The accrual basis of accounting

Where Should I Start - AAT Level 1 Or Level 2?

WHERE SHOULD I START - AAT LEVEL 1 or LEVEL 2?

If you feel that you are not ready to enrol straight on to AAT Level 2 - this quiz will help you to decide. If you get 75% or more then you are ready for Level 2. If you score less than 75% then Level 1 is probably more...

Questions: 25 | Attempts: 450 | Last updated: Mar 21, 2023

Sample Question
A total of 1600 people work for a company. The ratio of male to female employees is 3:5.How many more females than males are there in the company?

400

600

960

200

Accounting Basics Quiz - Stock/Shareholders Equity

The Accounting Basics Quiz on Stock/Shareholders' Equity is designed to evaluate your understanding of fundamental accounting concepts related to stockholders' equity. This quiz encompasses various topics, including the...

Questions: 8 | Attempts: 301 | Last updated: Dec 29, 2023

Sample Question
For corporations and limited liability companies the shareholders are entitled to a share of the companies profits - this is called a what?

Drawing

Withdrawal

Dividend

Theory Of Accounts: MCQ Quiz! Trivia

Theory of Accounts: MCQ Quiz! Trivia

Dive into the Theory of Accounts with this engaging MCQ quiz! Test your knowledge on financial standards, equity securities, and investment accounting. Perfect for learners aiming to understand complex financial reporting and...

Questions: 10 | Attempts: 1062 | Last updated: Mar 21, 2023

Sample Question
A company has adopted Statement of Financial Accounting Standards No. 115, Accounting for Certain Investments in Debt and Equity Securities (as amended by SFAS 130). It should report the marketable equity securities that it has classified as trading at:

Lower of cost or market, with holding gains and losses included in earnings.

Lower of cost or market, with holding gains included in earnings only to the extent of previously recognized holding losses.

Fair value, with holding gains included in earnings only to the extent of previously recognized holding losses.

Fair value, with holding gains and losses included in earnings.

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