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Basic Accounting Quizzes & Trivia

Do you know basic accounting? When you simply keep record of your financial transactions, that's accounting. You record what you own, what you have to pay and much you gained. It is very important in one's organization to keep track of its records because it determines financial stability. If a company owns resources which have future economic value, what are these?

Are you familiar with the words balance sheet, assets, liabilities, cash flow, capital and accounts receivables? If your answer is yes, then you must know accounting quite well. In simpler terms, if for a period of time, more money comes in that what was being invested, then your company or organization is in good shape. It's truly financially stable. Share your knowledge about accounting. Test your expertise. Grab a pen and answer our quiz.
Top Trending Quizzes

Accounting is something that is existent in different companies and is essential to ensure that a business keeps on growing. The quiz below is designed to test your knowledge on some basic accounting principles and issues so...

Questions: 8  |  Attempts: 13366   |  Last updated: May 19, 2021
  • Sample Question
    Profit is equal to:

Before attempting this assignment you should have read chapters 1 to 3 of your Osborne Book ”BASIC ACCOUNTING 1 " and attempted the chapter activities  in your WORKBOOK.   The pass mark for the assignment...

Questions: 18  |  Attempts: 2059   |  Last updated: May 2, 2013
  • Sample Question
    A cash sale is a sale where payment is made in notes and coins


Questions: 12  |  Attempts: 210   |  Last updated: Aug 27, 2020
  • Sample Question
    What is the normal balance for an expense account?

What do you know about basic accounting? Could you pass an exam? If you are not sure, this quiz can help. Basic accounting refers to the process of recording a company’s financial exchanges. It involves analyzing,...

Questions: 10  |  Attempts: 290   |  Last updated: Feb 25, 2021
  • Sample Question
    Net profit is calculated in?
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