Accounting Quizzes, Questions & Answers
Recent Quizzes
Maximum Marks for this Quiz will be 30.
Ten questions carry 2 marks with a negative mark of .5 (1/4) for each wrong answer. (10x2)
Two questions have 5 marks with a negative mark of 1.25 (1/4) for each wrong answer...
Questions: 12 | Attempts: 185 | Last updated: Mar 15, 2023
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Sample QuestionThe Cash Flow Statement can be prepared with Direct or Indirect Method. The difference in presentation between both the methods affects
This Accountancy Quiz MCQ: Exam assesses knowledge in financial accounting, focusing on bad debts, account types, and the basic accounting equation. It evaluates understanding of liabilities, events in business, and transaction...
Questions: 15 | Attempts: 468 | Last updated: Mar 22, 2023
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Sample QuestionA company had a doubtful debt provision of £14,000 on 31 December 2008. Its trade receivables at 31 December 2009 were £198,200. The company considers that receivables totaling £12,200 will not be paid and in addition planned to make a doubtful debt provision for 10% of its net receivables on 31 December 2009. What is the charge for bad and doubtful debts in the income statement for the year ended 31 December 2009?
This pre-examination for ACCOUNTING 1 MIDTERM assesses knowledge on inventory systems, cost of goods sold, and financial statements accuracy. It evaluates understanding of key accounting principles and practices critical for...
Questions: 80 | Attempts: 594 | Last updated: Mar 22, 2023
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Sample QuestionWhen using the perpetual inventory system, freight charges on goods purchased are debited to inventory.
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: 223 | Last updated: Mar 22, 2023
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Sample QuestionCosts incurred to increase the operating efficiency, productive capacity, or useful life of a plant asset referred to as--------
Do you know how to classify accounts? Accounts classified as asset accounts, liability accounts, capital, or owner’s equity accounts, withdraw accounts, revenue or income accounts and express accounts. The five major...
Questions: 20 | Attempts: 2641 | Last updated: Mar 22, 2023
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Sample QuestionJones Payable
Have you ever heard of the chart of accounts? A chart of accounts is a list of financial accounts set up, usually by an accountant, for a corporation and available for the bookkeeper's use for recording transactions in the...
Questions: 15 | Attempts: 790 | Last updated: Mar 21, 2023
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Sample QuestionThe chart of accounts has a list of:
Explore key concepts of financial accounting in this CLEP quiz! Test your understanding of GAAP, double entry systems, accrual basis accounting, and financial statements. Perfect for enhancing your accounting principles knowledge...
Questions: 10 | Attempts: 272 | Last updated: Mar 21, 2023
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Sample QuestionWhat is the full meaning of GAAP?
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: 177 | Last updated: Mar 22, 2023
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Sample QuestionWhich of the following is not a true statement ?
This quiz for Prelim Accounting1-1st Semester SY 2018-2019 assesses knowledge of basic accounting principles, financial statements, and the accounting equation. It is designed to test the understanding of key accounting concepts...
Questions: 29 | Attempts: 158 | Last updated: Mar 21, 2023
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Sample QuestionThe Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY
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Questions: 30 | Attempts: 241 | Last updated: Apr 10, 2024
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Sample QuestionThe Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY
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