Accounting Quizzes, Questions & Answers

Recent Quizzes

MGT101 Grand Test ( Lesson 1 - 22 ) Aryan Ahmad Evening Class

MGT101 GRAND TEST ( Lesson 1 - 22 ) Aryan Ahmad Evening Class

Accounts involved are incorrectly mentioned in the given table of assignment even if the rules of debit and credit are correctly mentioned. So be careful to mention the accounts involved against each transaction. Note related to...

Questions: 58 | Attempts: 119 | Last updated: Aug 7, 2024

Sample Question
Question: What is a Budget?

Plan of income

Plan of income Plan of expenses

Plan of income Plan of expenses Plan of other financial operation

All of above

Intermediate Accounting Trivia Exam Quiz!

The 'Intermediate Accounting Trivia Exam Quiz!' assesses knowledge on accounting standards and regulations in the energy sector, focusing on Mineral rights, E&E assets, and the roles of regulatory bodies. It's ideal for learners...

Questions: 35 | Attempts: 198 | Last updated: Mar 21, 2023

Sample Question
What is the applicable IFRS standard on E & E assets?

IAS 6 on ‘Evaluation for and Exploration of Mineral resources’.

IFRS 6 on ‘Evaluation for and Exploration of Mineral resources’.

SAS 14 on Accounting in the petroleum industry: Upstream activities

None of the above

Dates Of Financial Periods (Annual)

Dates of financial periods (ANNUAL)

Note the financial (accounting) year may not be the same as the calendar year (Jan 1 to Dec 31).

Questions: 10 | Attempts: 120 | Last updated: Mar 15, 2023

Sample Question
If the start date of the financial period is __________________, the end date will be 31 December 2015.

31 January 2014

1 January 2015

1 January 2016

31 January 2015

Test Your Knowledge On Accounting

Test your knowledge on Accounting

Explore your understanding of Accounting with this engaging quiz. It covers key concepts like income statements, accrual accounting, inventory systems, and liabilities. Perfect for students or professionals looking to assess or...

Questions: 23 | Attempts: 294 | Last updated: Mar 21, 2023

Sample Question
The most useful financial statement for analyzing a company’s profitability is the:

Balance Sheet

Statement of Retained Earnings

Statement of Cash Flows

Income Statement

Account Classification Quiz: Trivia Test!

Dive into the Account Classification Quiz: Trivia Test! This quiz assesses your knowledge of different financial account types, including assets, liabilities, and owner's equity. Perfect for learners enhancing their accounting...

Questions: 10 | Attempts: 739 | Last updated: Mar 22, 2023

Sample Question
Operating equipment?

Asset

Liability

Owner's Equity

12 Accounting - December 3, 2015

Basic accounting entails knowing what is being debited and what is being credited to an account. Other than that there is knowledge of how to treat the different transactions in the company’s books. Test your basic...

Questions: 10 | Attempts: 74 | Last updated: Mar 21, 2023

Sample Question
What type of account is Allowance for Doubtful Accounts?

Asset

Expense

Contra-asset

Contra-expense

ACCT 302: Accounting For Manufacturing Company Inventory! Trivia Quiz

ACCT 302: Accounting for Manufacturing Company Inventory! Trivia Quiz

Below is a quiz on ACCT 302: Accounting For Manufacturing Company Inventory! In a manufacturing company, the inventory consists of items such as property, goods in stock, or the contents of a building. They must all be accounted...

Questions: 16 | Attempts: 297 | Last updated: Mar 19, 2023

Sample Question
Pederson Company reported the following: Manufacturing costs $2,000,000 Units manufactured 50,000 Units sold 47,000 units sold for $75 per unit Beginning inventory 0 units What is the amount of gross profit margin?

$1,750,000

$3,525,000

$5,405,000

$1,645,000

Accounting Exam 3 Review

The 'Accounting Exam 3 Review' assesses understanding of financial transactions, including stock issuance, note repayment, and account handling. It evaluates key accounting principles and their application in real-world...

Questions: 31 | Attempts: 235 | Last updated: Mar 20, 2023

Sample Question
If a company issues common stock for $40,000 and uses $30,000 of the cash to purchase a truck,

Assets will be increased by $10,000

Equity will be reduced by $40,000

Assets will be increased by $40,000

Assets will be unchanged

Earnings Management In Accounting Quiz!

What is earnings management in accounting? Enhance your understanding of earnings management with this quiz. Earnings management is a way of manipulating financial records to improve the appearance of the company’s...

Questions: 10 | Attempts: 3215 | Last updated: May 1, 2023

Sample Question
What other names are given to earning management?

Income Smoothing

Borrowing from the future

Aggressive accounting

All of the above

Do You Know Accounting?

Do you know Accounting?

Accounting is one of the most needed and well-sought-after careers. Are you excited about accounting? Do you think you know accounting? Take this quiz and find out. Every business, be it small or large, needs an...

Questions: 10 | Attempts: 517 | Last updated: Nov 17, 2023

Sample Question
Which of the following actions would not be considered good management of accounts receivable?

Assessing creditworthiness of new or potential customers

Very loose or flexible credit terms to encourage sales

Offering discounts to encourage faster payment

Regular aged receivables analysis

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