Accounting Quizzes, Questions & Answers

Recent Quizzes

In today’s class we covered how to correct misallocations of overhead cost and journal entries in a manufacturing account. The test below is designed to test how well you understood out previous class and if you can...

Questions: 12 | Attempts: 515 | Last updated: Mar 21, 2023

Sample Question
If manufacturing overhead has been underallocated during the period, and most of the jobs produced have been sold, then:

Cost of goods sold should be decreased

Cost of goods sold should be increased

Finished goods inventory should be increased

Work in process inventory should be decreased

Accounting 202 Exam: Practice Quiz!

The 'Accounting 202 Exam: Practice Quiz!' assesses key skills in cost accounting, including calculating overhead rates, understanding manufacturing overhead, and job costing. It is designed for learners aiming to enhance their...

Questions: 11 | Attempts: 323 | Last updated: Mar 19, 2023

Sample Question
How do you calculate the predetermined manufacturing overhead rate used to allocate manufacturing overhead costs?

. By dividing the total estimated manufacturing overhead costs by the total estimated amount of the allocation base

By dividing the total estimated amount of the allocation base by the total estimated manufacturing overhead costs

By dividing the total estimated manufacturing overhead costs by the total actual amount of the allocation base

By multiplying the total estimated manufacturing overhead costs by the total estimated amount of the allocation base

Accounting 202: Trivia Quiz! Exam

During the manufacturing of a product, different factors go into choosing what input to use during manufacturing a product. Take up this quiz on overhead costs when it comes to job costing and see if you are prepared for the...

Questions: 11 | Attempts: 992 | Last updated: Mar 21, 2023

Sample Question
Which comes third in the flow of costs?

Cost of goods sold

Finished goods inventory

Raw materials inventory

Work in process inventory

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: 120 | Last updated: Mar 20, 2024

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

Accounting 202 - Chapter 3

Today we covered chapter three which was about job costing. This usually occurs with goods made after an order. As discussed job costing gives an accountant an overview of what each manufacturing will cost the company. What...

Questions: 55 | Attempts: 234 | Last updated: Mar 21, 2023

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

Accounting 202 - Chapter 2 Review Test Quiz

Accounting 202 - Chapter 2 Review Test Quiz Managerial accounting, as we know, is a branch of accounts that helps in collecting, analyzing, and reporting information about the operations and finances of a business. These reports...

Questions: 46 | Attempts: 651 | Last updated: Mar 21, 2023

Sample Question
Which of the following are merchandising companies?

Manufactures

Retailers

Wholesalers

Both Retailers and Wholesalers

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: 1662 | Last updated: Aug 23, 2023

Sample Question
A trade receivable is an example of:

Asset

Liability

Income

Accounting For Management And Sources Of Data

Accounting for Management and Sources of Data

Questions: 10 | Attempts: 187 | Last updated: Mar 22, 2023

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.

Accounting 201 - Chapter 7 Copy

Accounting 201 - Chapter 7 copy

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: 183 | Last updated: Mar 21, 2023

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

Intangible assets.

Natural resources.

Plant assets.

Goodwill.

Accounting 201 - Chapter 7

There exist two types of assets namely short term and long term assets. In class we have fully covered what is to know about long-term assets and how they are recorded in financial statements. Take up the quiz below and note...

Questions: 39 | Attempts: 563 | Last updated: Mar 21, 2023

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

Intangible assets.

Natural resources.

Plant assets.

Goodwill.

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