Accounting Quizzes, Questions & Answers
Recent Accounting Quizzes
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: 652 | Last updated: Mar 21, 2025
-
Sample Question21. 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
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 21, 2025
-
Sample QuestionThe source document for cash payments is a(n):
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: 471 | Last updated: Mar 22, 2025
-
Sample QuestionThe 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:
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: 1857 | Last updated: Mar 22, 2025
-
Sample QuestionWhich of the following income/expense will not show up on the Cash Flow Statement?
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 5, 2025
-
Sample QuestionWhat are the three sections of the Balance Sheet?
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, 2025
-
Sample QuestionYou 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?
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: 960 | Last updated: Aug 22, 2025
-
Sample QuestionYou make a cash sale for £200 (No VAT). Which of the following pairs of nominal accounts are affected?
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: 174 | Last updated: Jun 3, 2025
-
Sample QuestionIf 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?
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, 2025
-
Sample QuestionWhen a depreciable asset is sold for exactly its book value, the company:
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: 6795 | Last updated: Jan 13, 2025
-
Sample QuestionAccording to the FASB, a company that wishes to comply with GAAP will use:
Advertisement