Accounting Quizzes, Questions & Answers

Recent Accounting Quizzes

ACCT 425 Unit 3 explores partnership accounting, contrasting it with corporate structures, detailing partnership formation, operation, and dissolution. Key topics include asset revaluation, taxation advantages, and legal aspects...

Questions: 32 | Attempts: 100 | Last updated: Feb 15, 2025

Sample Question
When the hybrid method is used to record the withdrawal of a partner, the partnership

Revalues assets and liabilities and records goodwill to the continuing partner but not to the withdrawing partner.

Revalues liabilities but not assets, and no goodwill is recorded.

Can recognize goodwill but does not revalue assets and liabilities.

Revalues assets but not liabilities, and records goodwill to the continuing partner but not to the withdrawing partner.

Revalues assets and liabilities but does not record goodwill.

4th Primer On Hospital Finance: Arjohuntleigh

4th Primer on Hospital Finance: ArjoHuntleigh

Assessment of comprehension and application of concepts presented in the 4th Primer on Hospital Accounting and FInance

Questions: 15 | Attempts: 131 | Last updated: Jul 22, 2025

Sample Question
Income for a hospital or health system is recognized when:

When patient services are provided

When charges are posted

When reimbursement is collected

When a patient submits a co-payment

When charges and reimbursements are matched

Accounting Chapter 7 Definitions Quiz

This Accounting Chapter 7 Definitions Quiz assesses knowledge in ledger management, including account titles, balance column accounts, and journal entries. It is essential for learners aiming to understand and rectify accounting...

Questions: 8 | Attempts: 85 | Last updated: Mar 22, 2025

Basic Accounting Quiz Questions And Answers

Basic Accounting Quiz Questions and Answers

Here's an awesome 'Basic Accounting Quiz' for all the students studying accounts! Accounting is something that is existent in different companies and is essential to ensure that a business keeps on growing. The...

Questions: 10 | Attempts: 51904 | Last updated: Mar 22, 2025

Sample Question
Profit is equal to:

Income minus expenses

Receipts minus expenditures

Inflows minus outflows

Revenue minus expenses

Your Accounting Skill Test

As an accounting student, you need to ensure that you are up to date with what you study. This accounting test is specially created to test your accounting skills with intermediate level questions. Only the brightest of...

Questions: 20 | Attempts: 741 | Last updated: Mar 21, 2025

Sample Question
Using the FIFO method answer the following question. A company purchases 25 units at a price of $5 each. Then they purchase 10 units at the price of $4 each. Afterwards, they sell 30 units at a price of $10 each. Then they sell 2 units at a price of $15. Then they sell 3 units at the price of $15 each. What is the COGS?

$165

$375

$465

None of the above

Accounting Quiz For Starters

Struggle to study accountancy? Take this accounting quiz for starters, and see how much you understand accounts. Well, it is not that difficult, especially if you know the basics. This is an accounting quiz designed to clear some...

Questions: 25 | Attempts: 1459 | Last updated: Aug 22, 2025

Sample Question
To increase a cash account, we have to credit it.

True

False

IPSAS For Project Management Quiz

IPSAS for Project Management Quiz

Dive into the world of International Public Sector Accounting Standards (IPSAS) with our illuminating "IPSAS for Project Management Quiz." Tailored for project managers, financial professionals, or anyone navigating the...

Questions: 10 | Attempts: 305 | Last updated: Oct 7, 2025

Sample Question
Under IPSAS, which of the following is NOT correct?

IPSAS is an accounting standard that places ground rules on how organisations record economic transactions in their financial statements

IPSAS is replacing a 'modified cash' type of accounting

IPSAS will have a significant impact on how information is collected and reported in an organisation.

IPSAS will only have an affect upon the work of Finance and HQ personnel

Accounting 202 - Chapter 3.1 Review Test Quiz

Accounting 202 - Chapter 3.1 Review Test Quiz There are two different types of cost systems. These systems help a manufacturing company to know which products are profitable to make and those that are not. These costing...

Questions: 11 | Attempts: 122 | Last updated: Mar 20, 2025

Sample Question
What are the two basic types of costing systems?

Job costing and process costing

Periodic costing and perpetual costing

Product costing and materials inventory costing

Periodic costing and process costing

Questions On Srap: Trivia Quiz!

Questions on SRAP: Trivia Quiz!

Explore the intricacies of SRAP through 'Questions on SRAP: Trivia Quiz!' This quiz assesses knowledge on SRAP's financial protocols, expense categorization, and journal entry rules, sharpening skills critical for financial and...

Questions: 15 | Attempts: 32 | Last updated: Mar 14, 2025

Sample Question
What does PSNME stand for?

Product Supply Non-Manufacturing Expense

Product Supply Non-Managing Expense

Purchase Suppy Non-Manufacturing Expense

Purchase Suppy Non-Managing Expense

Introduction To Accounting, Regulatory Framework And Accounting Conventions

Introduction to Accounting, Regulatory Framework and Accounting Conventions

The questions are set as per ACCA standards and are hence worded to confuse students. You can access your total score and the correct answer to each question immediately after submitting your answers. Number of...

Questions: 18 | Attempts: 1672 | Last updated: Aug 23, 2025

Sample Question
A trade receivable is an example of:

Asset

Liability

Income

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