Accounting Quizzes, Questions & Answers
Recent Accounting Quizzes
Questions: 8 | Attempts: 107 | Last updated: Jan 17, 2025
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Sample QuestionWhich Stakeholder is interested in Profit/Loss accounts because : "If good net profits then loans are more likely to be repaid"?
Questions: 20 | Attempts: 1224 | Last updated: Mar 18, 2025
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Sample QuestionDirect Material + Direct Labor + other direct cost =
Questions: 20 | Attempts: 3059 | Last updated: Jul 17, 2025
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Sample QuestionSushi Company owns 30,000 ordinary shares of Sashimi Company acquired on July 31, 2009, at a total cost of P1,100,000. On December 1, 2009, Sushi received 30,000 stock rights from Sashimi. Each right entitles the holder to acquire one share at P45. The market price of Sashimi's share on this date, ex-right, was P50 and the market price of each right was P5. Sushi sold its rights the same date at P5 a right less a P10,000 commission. The gain from the sale of the rights should be reported by Sushi at:
Questions: 5 | Attempts: 354 | Last updated: Mar 18, 2025
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Sample QuestionWhat is an asset?
Questions: 10 | Attempts: 4448 | Last updated: Oct 16, 2025
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Sample QuestionUnder IAS 40, Investment Property, which additional disclosure must be made when an entity chooses the cost model as its accounting policy for investment property?
Questions: 70 | Attempts: 172 | Last updated: Oct 22, 2025
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Sample QuestionWhat is the major difference between the responsibilities of the Financial Management Analysis and the Defense Finance and Accounting Service?
Questions: 10 | Attempts: 107 | Last updated: Oct 9, 2025
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Sample QuestionThe Act establishing the Institute of Chartered Accountants of Nigeria (ICAN) came into force on
Questions: 10 | Attempts: 1651 | Last updated: Mar 21, 2025
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Sample QuestionIn a Petty Cash context, Cash includes:
Questions: 56 | Attempts: 116 | Last updated: Mar 22, 2025
Questions: 12 | Attempts: 890 | Last updated: Mar 22, 2025
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Sample QuestionAnything of value that is owned is called a(n):
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