Accounting Quizzes & Trivia
Practical accounting 1
Questions: 5 | Attempts: 340
Sample Question1. Alpha Company provided the following information relating to the current year: Net income 3,500,000 Unrealized gain on available for sale securities 250,000 Foreign currency translation adjustment – credit 50,000 Revaluation surplus 1,000,000
Choose the answer. True or False
Questions: 15 | Attempts: 339
Sample QuestionCash equivalents would include investments in marketable equity securities as long as management intends to sell the securities in the next three months.
Questions: 25 | Attempts: 336
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:
Questions: 18 | Attempts: 315
Sample QuestionThe SEC has usually restricted its role in establishing accounting principles to
Questions: 25 | Attempts: 307
Sample QuestionTraditionally, financial accounting information has focused primarily on:
Financial Accounting means to analyze, summarize, and record financial transactions as well as to show an accurate picture of financial affairs of the company. This quiz has been developed to test your knowledge of Financial...
Questions: 9 | Attempts: 305
Sample QuestionLike other governmental funds, proprietary funds have no emphasis on income measurement.
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Questions: 60 | Attempts: 299
Sample QuestionUnder U.S. tax laws, how are taxes paid by U.S. corporations to foreign governments treated?
Test your knowledge of: IAS 16, Property Plant & Equipment IAS 38, Intangible Fixed AssetsIAS 36, Impairment of Assets IAS 40, Investment Property IAS 17, LeasesIAS 2, Inventories
Questions: 14 | Attempts: 298
Sample QuestionWhat are the two key criteria for an item of property, plant & equipment to be “recognised” as an asset? (IAS 16)
Questions: 25 | Attempts: 296
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:
As we have finish covering the topic of job costing it is important to remind ourselves of what we have covered so far and the journal entries for the different changes. Give this simple quiz a try and see what you can...
Questions: 11 | Attempts: 288
Sample QuestionThe journal entry needed to record the receipt of a bill from the company’s marketing agency would include a:
Nowadays for you to be an accountant you must take certain tests to qualify as one. You must also belong to a body of accountants so as to be licensed to practice accounting. Are you studying to become an accountant? Take...
Questions: 40 | Attempts: 281
Sample QuestionA formal written statement of management's plans for the future, expressed in financial terms, is a:
Questions: 10 | Attempts: 279
Sample QuestionWhich one of the following forms is used when companies have filed with the SEC for less than 36 months but are not large enough to file form S-3?
Choose true or false
Questions: 15 | Attempts: 267
Sample QuestionCompound interest includes interest earned on interest.
In process costing the cost for manufacturing is accumulated throughout the process and is suitable if a company produces one good in bulk. During the first class we covered the types of costing and how to calculate different...
Questions: 28 | Attempts: 266
Sample QuestionWhen units are moved from one processing department to the next, the cost associated with those units must also be moved from one WIP account to the next. These costs are called:
VU MGT101 Financial Accounting - Mid Term (2009) Comments are appreciated
Questions: 41 | Attempts: 264
Sample QuestionParticulars Rs. Opening written down value of machine 1,00,000 Cost of new machine purchased during the year 50,000 Depreciation during the year 21,000 Closing written down value (WDV) ?
Accumulation of Styles' online quizzes
Questions: 6 | Attempts: 258
Sample QuestionWhat is the contract that gives rise to a bond?
1. Define accounting and know its purpose. 2. Differentiate the types of business organizations. 3. Distinguish the different types of business operations. 4. Know and appreciate the basic accounting principles used in the...
Questions: 14 | Attempts: 244
Sample QuestionAll business transactions that will be entered in the accounting records must be fully supported by verifiable evidence.
Questions: 10 | Attempts: 243
Sample QuestionWhich statement is false regarding the registration of public accounting firms with the PCAOB under the Sarbanes-Oxley Act?
Questions: 25 | Attempts: 242
Sample QuestionAccording to the FASB, a company that wishes to comply with GAAP will use:
Securities are divided into debt and equity securities. Trading in securities is one form of investment that guarantees maximum profits when properly placed. Did you understand this chapter fully? The quiz below is designed...
Questions: 38 | Attempts: 242
Sample QuestionInvestments that a company plans to hold for one year or less are:
Acccounting 1st semester
Questions: 79 | Attempts: 241
Sample QuestionFinancial transactions are summarized in:
Watch the video/lecture on the next page and then answer the following questions.
Questions: 3 | Attempts: 236
Sample QuestionFor a soletrader or a partnership the accounting equation states that:Assets = Liabilities + Owners Equity
You have already moved from learning the basics of accounting and are now studying accounting II. This being the end of the semester it is expected that you are well equipped to pass the exam. Try out the quiz below and see...
Questions: 12 | Attempts: 236
Sample QuestionAnything of value that is owned is called a(n):
The changes in cost and volume of the output have an effect on the company’s operating and net income. We have already covered what there is on calculation and effect of these changes to the organization. The quiz below...
Questions: 30 | Attempts: 231
Sample QuestionThe unit contribution margin is computed by:
Questions: 11 | Attempts: 229
Sample QuestionWhich of the following is the correct order for the accounting cycle?