Accounting Quizzes, Questions & Answers
Recent Quizzes
This quiz focuses on International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS), assessing knowledge in key areas such as financial statements, inventory valuation, depreciation, and more....
Questions: 27 | Attempts: 831 | Last updated: Mar 20, 2023
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Sample QuestionWhat is IAS 1?
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: 378 | Last updated: Mar 20, 2023
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Sample QuestionThe revenue recognition concept:
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
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Sample QuestionWhat term is used to describe factors in a decision problem that cannot be expressed effectively in numerical terms?
Below is an ACCT 1003 quiz on cost and management accounting. The cost and management perspective are comparative in the provision of data and analyses reports that can be used by managers to make decisions that will lead to long...
Questions: 5 | Attempts: 1047 | Last updated: Mar 21, 2023
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Sample QuestionWhen a continuous record is kept of the quantities and cost of merchandise on hand, the inventory system is referred to as periodic.
Explore key aspects of lease accounting with this focused quiz. Covering reasons for leasing, advantages, current practices, theoretical justifications, and essential elements, this quiz enhances understanding of complex lease...
Questions: 29 | Attempts: 2816 | Last updated: Mar 22, 2023
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Sample Question21. Major reasons why a company may become involved in leasing to other companies is (are)
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: 620 | Last updated: Mar 22, 2023
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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: 468 | Last updated: Mar 22, 2023
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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:
This 'Accounting Quiz: Practice Exam!' assesses key skills in cost management using the high-low method. It covers variable and fixed cost calculations, use of Excel for cost data, and identification of cost types, enhancing...
Questions: 25 | Attempts: 1040 | Last updated: Aug 30, 2024
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Sample QuestionBased on the information in Table M5-2, assuming Laramie Tack & Saddle uses the high-low method to separate mixed costs, if the company processes 4,100 packages during July, the total variable cost will be:
This Accounting Practice Test focuses on activity-based costing, overhead allocation, and cost systems. It assesses understanding of cost management in manufacturing contexts, enhancing accuracy in product costing and overhead...
Questions: 25 | Attempts: 579 | Last updated: Mar 21, 2023
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Sample QuestionWhen the firm tests 9,000 components during the month, based on the information in Table M4-1, the amount of overhead applied during the period for the quality pool is:
This Exam on Accounting tests knowledge on various accounting aspects including period costs, direct labor, and inventory management. It is designed for learners looking to understand cost behaviors and accounting practices...
Questions: 25 | Attempts: 2284 | Last updated: Feb 14, 2024
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Sample QuestionThe salary of a corporate office security guard is considered a(n):
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