Accounting Quizzes, Questions & Answers

Recent Quizzes

Chapter 5 Exam 2 assesses understanding of consolidated financial statements, focusing on intercompany transactions. It tests skills in recognizing profit realization, cost of goods sold adjustments, and reporting intra-entity...

Questions: 31 | Attempts: 502 | Last updated: Mar 22, 2023

Sample Question
1. On November 8, 2018, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and was sold to Wood for $89,000. For consolidated financial statement reporting purposes, when must the gain on the sale of the land be recognized?

A) Proportionately over a designated period of years.

B) When Wood Co. sells the land to a third party.

C) No gain may be recognized.

E) When Wood Co. begins using the land productively.

Tally ERP 9 Functions And Shortcuts: Quiz!

Tally Erp 9 Functions and Shortcuts: Quiz!

Explore key functions and shortcuts in Tally ERP 9 with this focused quiz. Assess your knowledge on company operations, ledger management, and financial reporting, enhancing skills crucial for efficient business management.

Questions: 49 | Attempts: 3362 | Last updated: Aug 28, 2023

Sample Question
______________ shortcut is used to shut a company in Gateway of Tally.ERP 9.

Alt + S

Alt + F4

Alt + F1

Alt + F3

Test Your Accounting Concepts Knowledge! Trivia Questions Quiz

Test your Accounting Concepts Knowledge! Trivia Questions Quiz

Test Your Accounting Concepts Knowledge using this Trivia Questions Quiz. Accounting is a major department in any organization as it is tasked with collection, recording and use of funds as needed to meet the objectives of the...

Questions: 10 | Attempts: 228 | Last updated: Mar 22, 2023

Sample Question
Costs incurred to increase the operating efficiency, productive capacity, or useful life of a plant asset referred to as--------

Revenue expenditures

Capital expenditures

Both

None of the above

Quizz On Internal Controls - Em Lyon - Prof. Idriss Elasri

Quizz on internal controls - EM Lyon - Prof. Idriss Elasri

This quiz, crafted by Prof. Idriss Elasri at EM Lyon, assesses knowledge in internal controls. It covers the importance of employee integrity, roles in internal control, and segregation of duties, emphasizing the necessity of...

Questions: 10 | Attempts: 182 | Last updated: Mar 22, 2023

Sample Question
Which of the following is not a true statement ?

Putting controls in place will always cost more money

Controls help to ensure compliance with policies

Controls will help the organization achieve its mission

Controls will help protect the organization's assets

Can You Pass This Basic Finance Assistant Test?

Can you pass this basic Finance Assistant Test?

A finance assistant is a person who assists, manage, processes and deals with troubleshooting issues related to accounts and transactions. He is supposed to prepare and process financial forms such as account...

Questions: 10 | Attempts: 20518 | Last updated: Mar 22, 2023

Sample Question
What financial statement lists assets from current to long term?

Balance Sheet

Income Statement

Cash Flow Statement

Statement of Retained earnings

Accounting 1 (Summer 2018)

ACCOUNTING 1 (SUMMER 2018)

Hello Class! Congrats for making it to this point. Please give this your best shot! Good Bless!

Questions: 30 | Attempts: 277 | Last updated: Apr 10, 2024

Sample Question
The Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY

True

False

F3 Control Accounts

This F3 Control Accounts quiz assesses understanding of payables ledger control accounts, including error corrections and reconciliations. It tests skills crucial for accounting accuracy and financial compliance, making it...

Questions: 5 | Attempts: 661 | Last updated: Mar 21, 2023

Sample Question
A company purchases all goods on credit. The following payables ledger control account contains some errors: Payables ledger control account Debit $ Purchases 963,200 Discounts received 12,600 Contras with amounts receivable in receivables ledger 4,200 Closing balance 410,400 –––––––– 1,390,400 ———— Credit $ Opening balance 384,600 Cash paid to suppliers 988,400 Purchases returns 17,400 –––––––– 1,390,400 ———— What should the closing balance be when the errors have been corrected?

$325200

$350400

$358800

$376800

Babak Penyisihan Ppm Accounting Competition 2017

BABAK PENYISIHAN PPM ACCOUNTING COMPETITION 2017

Babak Penyisihan akan segera dimulai. Peserta diharapkan membaca ketentuan, langkah-langkah, dan peraturan yang tertera di bawah ini terlebih dahulu. Ketentuan Test Trial Babak...

Questions: 30 | Attempts: 304 | Last updated: Feb 1, 2023

Sample Question
Penghasilan perusahaan Rp.20.000.000,-Beban usaha Rp.7.000.000,-Prive Rp.3.000.000,-Jika Modal Awal Rp.55.000.000,- maka modal akhir adalah...

Rp. 65.000.000,-

Rp. 45.000.000,-

Rp. 79.000.000,-

Rp. 55.000.000,-

Basic Accounts Quiz: Trivia Exam!

Accounting is all about the proper reporting of business transactions in the correct books of accounts. This is done to correctly show how the company finances stand at a given point. What do you know about the double-entry...

Questions: 20 | Attempts: 180 | Last updated: Mar 20, 2023

Sample Question
The goal of managerial accounting is to provide the information that managers need for all of the following EXCEPT:

Planning

Control

Decision Making

Review

Accounting Cycle MCQ Quiz!

The 'Accounting Cycle MCQ Quiz!' assesses knowledge on key accounting procedures such as Purchase Orders, Goods Received Notes, and Payment Vouchers. It tests understanding of roles like Purchasing Managers and Store Clerks in...

Questions: 8 | Attempts: 235 | Last updated: Mar 22, 2023

Sample Question
The Payment Voucher is sometimes approved by the accounts clerk.

True

False

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