Financial Accounting Quizzes, Questions & Answers
Top Trending Quizzes
Understanding the nitty-gritty of financial accounting can be tricky! We are here to help! This 'Financial Accounting Quiz Questions And Answers' will test your basic knowledge of the subject. Make sure to pick the...
Questions: 10 | Attempts: 17240 | Last updated: Mar 18, 2024
-
Sample QuestionThese are economic resources with the ability or potential to provide future benefits?
For each of the transactions, state which accounts are affected. Each transaction involves at least two accounts but could be more.
Questions: 10 | Attempts: 8461 | Last updated: Mar 22, 2023
-
Sample QuestionA new computer was purchased by paying 30 percent cash down and signing a banknote for the remainder.
Questions: 25 | Attempts: 701 | Last updated: Mar 20, 2023
-
Sample QuestionTraditionally, financial accounting information has focused primarily on:
Recording financial transactions: trivia quiz. For a transaction to be complete there are some documents that need to be provided before it is recorded in the financial statements. Do you know what a remittance advice is and...
Questions: 38 | Attempts: 1820 | Last updated: Mar 22, 2023
-
Sample QuestionKew has an overdraft of $4,400 at the start of June. The following four transactions occurred during June. Kew allows its customers up to 60 days to pay their invoices. 3 June: Kew sells goods worth $10,000 on credit to a customer who always takes the full credit period. 10 June: Kew pays a supplier $8,000. 20 June: Kew sells goods worth $12,000 for cash and allows a 5% discount. 23 June: Cash is received from a customer who has been in dispute with Kew. The original invoice was for $6,000, but Kew has agreed to accept half the invoice value to settle the dispute. How much does Kew have in the bank at the end of June?
Questions: 55 | Attempts: 830 | Last updated: Mar 21, 2023
-
Sample QuestionSunset Tours has an Rs.3,500 account receivable from Mohan. On January 20, Mohan makes a partial payment of Rs.2100 to Sunset Tours. The journal entry made on January 20 by Sunset Tours to record this transaction includes:
Recent Quizzes
MGT101 : This is a trivia questions quiz designed to test your financial accounting knowledge! For you to be a skilled accountant, you need to have enough information about all the principles of accounting and how to record every...
Questions: 40 | Attempts: 485 | Last updated: Mar 22, 2023
-
Sample QuestionProper recording of any dealing between two persons involving money or a valuable thing is called ________
Questions: 10 | Attempts: 227 | Last updated: Mar 14, 2023
-
Sample QuestionWhen the Depreciation and amortization in I/S and C/F is negative, Select the correct FCC from the below list.
Questions: 23 | Attempts: 555 | Last updated: Mar 22, 2023
-
Sample QuestionOn April 1, 2012, Nelson Inc. accepts a $100,000, 8% note. The note receivable and interest are receivable on March 31, 2013. On March 2013, Nelson Inc. will record interest revenue of
Are you an accountant who is trying to see how well they understand the Financial Accounting Standards Board Codifications? In order to ensure that your records are not misstatement, you need to follow the guidelines put in place...
Questions: 10 | Attempts: 550 | Last updated: Mar 22, 2023
-
Sample QuestionBased on your assigned reading (https://sites.google.com/site/thecodification/grading) for this class activity, respond to the following question: CODE-Q1 The codification was first published as of July 1, 2009. It is effective for interim or annual periods ending after:
Questions: 50 | Attempts: 339 | Last updated: Mar 21, 2023
-
Sample QuestionWhich financial accounting number impacts stock prices more than any other single piece of information?
Finance and accounts questions trivia quiz. Finance and accounts are interconnected with each other and there is no way one can study in one field without learning some of the basic concepts surrounding the other. In the quiz...
Questions: 10 | Attempts: 107 | Last updated: Mar 21, 2023
-
Sample QuestionWithin how many hours of the deal itself must other transactions flow in order to display as selectable discoveries?
Financial Accounting 1
Questions: 10 | Attempts: 374 | Last updated: Mar 22, 2023
-
Sample QuestionWhat are assets?
Questions: 18 | Attempts: 659 | Last updated: Mar 19, 2023
-
Sample QuestionThe SEC has usually restricted its role in establishing accounting principles to
- Financial issues, - Third Party Programs, - Online Adjudication, - Rejected Claims, - Other Billing Procedures
Questions: 45 | Attempts: 209 | Last updated: Mar 20, 2023
-
Sample QuestionThe resolution of prescription coverage through the communication of the pharamacy computer with the third party computer
Questions: 8 | Attempts: 139 | Last updated: Mar 21, 2023
-
Sample QuestionThe payment of a liability in cash will decrease stockholders' equity.
Financial accounting is the discipline of accounting involved with the summary, analysis, and recording of financial transactions related to a business. It entails the preparation of financial statements for public use....
Questions: 8 | Attempts: 432 | Last updated: Mar 21, 2023
-
Sample QuestionWhich of the following are acceptable inventory costing methods?
Financial Accounting Exam II, Chapters 5 and 6
Questions: 23 | Attempts: 2257 | Last updated: Mar 22, 2023
-
Sample QuestionOn April 1, 2012, Nelson Inc. accepts a $100,000, 8% note. The note receivable and interest are receivable on March 31, 2013. On March 2013, Nelson Inc. will record interest revenue of
Financial accounting is one of the courses taken by an aspiring certified accountant. Are you looking for revision material for an exam? If the answer is yes look no further and take up the quiz below to see if you indeed are...
Questions: 24 | Attempts: 451 | Last updated: Mar 18, 2023
-
Sample QuestionFinancial Accounting in SAP ERP contains several ledgers. Which of the following are ledgers in Financial Accounting? (4 correct answers)
This is a interesting and important quiz for accounting. Take this quiz and have a good time!
Questions: 22 | Attempts: 1134 | Last updated: Mar 22, 2023
-
Sample QuestionA transaction that has been recorded in wrong account of the same class instead of being recorded in the right account
MGT101- Financial Accounting
Questions: 19 | Attempts: 5912 | Last updated: Mar 8, 2024
-
Sample QuestionOffice salaries, advertising and sales commissions are the examples of:
Financial Accouting Midterm Practice Part 2
Questons 1-36 from Quiz 3
Questions: 57 | Attempts: 146 | Last updated: Apr 2, 2024
-
Sample QuestionWhich of the following best represents the expanded accounting equation?
Financial Accounting means to analyze, summarize, and record financial transactions as well as to show an accurate picture of the financial affairs of the company. This quiz has been developed to test your knowledge of...
Questions: 10 | Attempts: 3237 | Last updated: Mar 22, 2022
-
Sample QuestionThe stock is attractive to investors because stockholders are not liable for the corporation's actions and debts and because the stock is easily transferred.
These are 5 True-False questions that were selected randomly from our mid-term exam for you to practice with.
Questions: 5 | Attempts: 1684 | Last updated: Mar 20, 2022
-
Sample QuestionEthics are not important to the primary functions of accounting.
Advertisement