Accounting Quizzes & Trivia

You May Also Like: Accounting Flashcards

So far we have covered seven chapters in accounting 201. This most recent chapter we covered assets and how changes in the assets are recorded. Take up the quiz below and see what you recall so far. Give it your best and...

Questions: 39 | Attempts: 36 | Last updated: Jul 4, 2018

Sample Question
Long-lived tangible assets that are used in the operation of the business are called:

Intangible assets.

Natural resources.

Plant assets.

Goodwill.

International Accounting - Ch 9

IFRS focus on accounting for inflation, consolidations, and segment reporting contrasted with U.S. GAAP Basef on chapter 9 of the textbook International Accounting 3rd edtion by Doupnik and Perera

Questions: 16 | Attempts: 35 | Last updated: Feb 18, 2013

Sample Question
____________ accounting was created to account for changes in the general price level and makes adjustments to the historical costs of non-monetary assets to update for changes in the purchasing power of the currency.

General purchasing power

Current replacement cost

Price level

Current cost

Intro To Accounting

Solidfy concepts learned

Questions: 21 | Attempts: 35 | Last updated: Mar 2, 2012

Sample Question
Many current liabilities are affected by accrual accounting entries. This happens because:

Liabilities are usually paid when they are incurred.

Accrual accounting involves recognizing liabilities before they are paid.

The only way to reduce a liability account balance is with an adjusting entry.

Accrual accounting frequently involves recognizing liabilities before they are incurred.

Accounting Ch.'s 1-4

ACCOUNTING QUIZ

Questions: 9 | Attempts: 35 | Last updated: Jul 30, 2011

Sample Question
WHAT IS THE DEFINITION OF ACCOUNTING?

AN ECONOMIC SYSTEM THAT DEFINES THE BUSINESS ACTIVITY

AN INFORMATION SYSTEM THAT REPORTS THE EMPLOYEE ACTIVITIES

AN INFORMATION SYSTEM THAT REPORTS THE ECONOMIC ACTIVITY OF A BUSINESS

A ONLINE WEBSITE A BUSINESS USES TO REPORT THE STOCKS OF A BUSINESS

ASSETS=LIABILITY -FEES EARNED

Unit 1 Quiz 5

Microevolution

Questions: 13 | Attempts: 35 | Last updated: Jan 17, 2013

Sample Question
The three models of natural selection are:

Polar

Directional

Cohesive

Stabilizing

Disruptive

Quiz: How Well Do You Know About Accounting?

Questions: 12 | Attempts: 34 | Last updated: Mar 13, 2020

Sample Question
Which one of the following would you expect to find in the general ledger?

Sales ledger control account

Sales day book

Individual customer account

Sales order book

Refund

Questions: 15 | Attempts: 34 | Last updated: Mar 13, 2014

Sample Question
How do we refund the amount in case of a COD order?

Clues Bucks

Coupon Code

Clues Bucks & NEFT

None of the above

Accounting For Management And Sources Of Data

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:...

Questions: 10 | Attempts: 34 | Last updated: Feb 21, 2013

Sample Question
Which of the following statements are true? (i) The main users of financial accounting information are external to an organisation. (ii) Cost accounting is that part of financial accounting which records the cash received and payments made by an organisation.

Statements (i) and (ii) are both correct.

Only statement (i) is correct.

Only statement (ii) is correct.

Ch.10

Questions: 44 | Attempts: 33 | Last updated: Feb 15, 2013

Sample Question
Plant assets may properly include

Deposits on machinery not yet received

Idle equipment awaiting sale

Land held for possible use as a future plant site

None of these.

Quiz: Accounting 4 - Liabilities

Enter your name and email address below. Watch the video on the next page, take notes as if you were attending a lecture, then attempt the Premier Training quiz questions.

Questions: 4 | Attempts: 33 | Last updated: Jan 22, 2013

Sample Question
Which of the following are examples of liabilities:

Rent payable

Interest receivable

Tax payable

Utilities payable

Method Of Accounting Chapter 3

Questions: 15 | Attempts: 33 | Last updated: Apr 26, 2018

Sample Question
On November 1, Rosebriar Apartments received $3,600 from a tenant for four months rent. The receipt was credited to Unearned Rent Revenue. What adjusting entry is needed on Dec 31?

Debit unearned rent revenue 1800, credit rent revenue 1800

Debit cash 900, credit rent revenue 900

Debit unearned rent revenue 900, credit rent revenue 900

Debit rent revenue 900, credit unearned rent revenue 900

C02-accounting Scene - Quiz 1

Topic - Accounting Scene from Fundamentals of Financial Accounting - C02 This quiz consists of 5 objective type questions. Duration - 5 minutes Marking - 1 mark for correct answer. No negative marking.

Questions: 5 | Attempts: 32 | Last updated: Feb 15, 2013

Sample Question
Which of the following is a function of the financial accountant in a business which employs several accounting staff?

Preparing budgets

Costing products

Setting selling prices

Summarising historical accounting data

Mabstac3

Questions: 75 | Attempts: 31 | Last updated: Feb 18, 2013

Sample Question
Net working capital is the difference between

A: Current assets and current liabilities.

B: Fixed assets and fixed liabilities.

C: Total assets and total liabilities.

D: Shareholders' investment and cash.

Accounting 1 (Summer 2018)

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

Questions: 30 | Attempts: 30 | Last updated: May 25, 2018

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

True

False

Systems Review 1

Type description here

Questions: 3 | Attempts: 30 | Last updated: Dec 11, 2014

Sample Question
Traveling upstream on the Mississippi River, a barge travels 56 mi in 7 h. Downstream it travels the same distance in 4 h. Find the rate of the barge in still water and the rate of the current.

Still water - 11 mph Current - 3 mph

Still water - 3 mph Current - 11mph

Still water - 13 mph Current - 2 mph

Still water - 2 mph Current - 13 mph

Quiz: Accounting Basics 5 - Stock/Shareholders Equity

Questions: 8 | Attempts: 30 | Last updated: Jan 22, 2013

Sample Question
For corporations and limited liability companies the shareholders are entitled to a share of the companies profits - this is called a what?

Drawing

Withdrawal

Dividend

Accy 111 Chapter 7 Part 2

CHoose the best word for each definition

Questions: 26 | Attempts: 30 | Last updated: Jan 15, 2013

Sample Question
Is of vital importance for good internal control.

Internal control

Write-off of accounts receivable

Sales returns

Separation of duties

Quiz: What Do You Know About Expense Approval Responsibilities?

What Do You Know About Expense Approval Responsibilities? When running a business, it is important to ensure that every procedure is cleared before it takes place, or else the business assets would be used inappropriately or some...

Questions: 6 | Attempts: 29 | Last updated: Oct 17, 2019

Sample Question
Statement Reports cannot be submitted until the 22nd of every month and must be approved by the end of the month

True

False

Ncea Accounting Level 1 [income Statement + Balance Day Adjustments]

Kia Ora WhÄ�nauAnother awesome quiz from Brosir.com - making learning awesome, easy and FREE!Income Statement + Balance Day AdjustmentsOnce you have stared at the photo of Jacob long enough, feel free to continue the quiz :)

Questions: 8 | Attempts: 29 | Last updated: Dec 8, 2016

Sample Question
The purpose of an Income Statement is to show:

How awesome Jerry is at Table Tennis.

E=mc squared.

Income, expenses, and net profit.

Life is like a box of chocolates, you never know which one you gonna get.

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: 28 | Last updated: May 31, 2018

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

Asset

Expense

Contra-asset

Contra-expense

Accounting Vocab

Basic Questions consisiting upon accounting vocab. This Quiz contains 5 Questions Regarding basic Accounting Vocab being used.

Questions: 5 | Attempts: 28 | Last updated: Feb 11, 2013

Sample Question
1. The length of time between financial reports is a fiscal period or fiscal year.

True

False

Accounting Test

hat

Questions: 165 | Attempts: 28 | Last updated: Mar 14, 2016

Sample Question
(221) Examples of other civilian personnel compensation (EEIC–392) include

Overtime pay, premium pay, and night work differential

Overtime pay, vost of living allowance, and base pay

Holiday pay, sunday pay, and hazardous duty pay

Overtime pay, base pay, and night work differential

Accounting Quiz 1 Chapters 1-2

Different costs are incurred during the manufacturing of products and are transferred to the consumer in the process. Do you have a good understanding of this cost and how do we account for them as accountants? Take up the...

Questions: 20 | Attempts: 28 | Last updated: Jul 4, 2018

Sample Question
What's another name for manufacturing costs?

Prime

Period

Product

Conversion

Accounting Test: Would You Pass?

Can you answer these simple questions on accounting? Let's play this and prove yourself now!

Questions: 35 | Attempts: 27 | Last updated: May 5, 2017

Sample Question
Ryan, Inc., uses straight-line depreciation for all of its depreciable assets. Ryan sold a used piece of machinery on December 31, 2012, that it purchased on January, 2011, for $10,000. The asset had a five-year life, zero risidual value, and $2,000 accumulated depreciation as of december 31, 2011. If the sales price of the used machine was $6,500, the resulting gain or loss upon the sale was which of the following amounts?

Loss of $1,500

Gain of $1,500

Loss of $500

Gain of $500

No gain or loss upon the sale

Definition Of Liability Quiz

Take this Legal liability quiz and test your knowledge on definitions of liability. All the best for this quiz!

Questions: 69 | Attempts: 27 | Last updated: May 29, 2017

Sample Question
Liabilities are

Any accounts having credit balances after closing entries are made.

Deferred credits that are recognized and measured in conformity with generallyaccepted accounting principles.

Obligations to transfer ownership shares to other entities in the future.

Obligations arising from past transactions and payable in assets or services in the future.

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