Financial Accounting Quizzes & Trivia
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Questions: 10 | Attempts: 6423 | Last updated: Dec 26, 2019
Questions: 10 | Attempts: 895 | Last updated: Dec 9, 2019
Questions: 10 | Attempts: 2304 | Last updated: Jun 23, 2019
Questions: 6 | Attempts: 999 | Last updated: Dec 16, 2019
Questions: 19 | Attempts: 1574 | Last updated: Jan 2, 2013
Questions: 10 | Attempts: 6423 | Last updated: Dec 26, 2019
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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: 895 | Last updated: Dec 9, 2019
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Sample QuestionA new computer was purchased by paying 30 percent cash down and signing a banknote for the remainder.
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: 2304 | Last updated: Jun 23, 2019
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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.
Questions: 6 | Attempts: 999 | Last updated: Dec 16, 2019
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Sample QuestionDebit means
MGT101- Financial
Accounting
Questions: 19 | Attempts: 1574 | Last updated: Jan 2, 2013
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Sample QuestionOffice salaries, advertising and sales commissions are the examples of:
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Financial Accounting Questions & Answers
What is the difference between Available Balance and Posted Balance?
Posted balance is the amount of balance you see in your bank account and is physically available for use. It is calculated as the outcome of a transaction which was executed in the past.
A posted balance is the real balance posted on the actual bala
What type of concept example is this?
Uncertainty and risks inherent in business situations should be adequately considered in financial reporting.
1. conservatism.-under the conservatism constraint, when alternative accounting methods are appropriate, the one having the less favorable effect on net income and total assets is preferable. however, conservatism does not permit a deliberate underst
What type of office salaries, advertising, and sales commissions are the examples?
Operating expenses is also known as operating expenditure, operational expenditure or operational expense.
These expenses are expenditures that a business incurs to engage in activities associated with the production of goods or services. It is the
What is the interest revenue recorded by Nelson Inc. if they accept a $100,000 note at 8%? Use the following data.
Date of Acceptance: April 1, 2012.
Date of Receiving: March 31,...
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The interest revenue off this $100,000 should be $8,000. This is actually fairly easy calculation. First, you divide $100,000 by .08. This gives you $8,000. That is literally all you need to do to find the interest revenue for the year this has been
These are 5 True-False questions that were selected randomly from our mid-term exam for you to practice with.
Questions: 5 | Attempts: 709 | Last updated: Apr 24, 2018
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Sample QuestionEthics are not important to the primary functions of accounting.
This is a interesting and important quiz for accounting. Take this quiz and have a good time!
Questions: 22 | Attempts: 500 | Last updated: Feb 24, 2016
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Sample QuestionA transaction that has been recorded in wrong account of the same class instead of being recorded in the right account
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: 443 | Last updated: Sep 6, 2019
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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:
Financial Accounting Exam II, Chapters 5 and 6
Questions: 23 | Attempts: 413 | Last updated: Jan 30, 2013
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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
Questions: 8 | Attempts: 339 | Last updated: Apr 13, 2020
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Sample QuestionWhich of the following are acceptable inventory costing methods?
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 about...
Questions: 10 | Attempts: 305 | Last updated: Jun 29, 2019
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Sample QuestionAll of the information ( nae, age, major, etc.) about a partiular student is stored in which of the following?
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: 292 | Last updated: Sep 2, 2020
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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?
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: 267 | Last updated: Aug 1, 2018
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Sample QuestionFinancial Accounting in SAP ERP contains several ledgers. Which of the following are ledgers in Financial Accounting? (4 correct answers)
General Quiz on Finacial Accounting Knowledge for students at basic level. By taking this Quiz,surely you will feel somewhat better than before as you will gain some knowledge INSHA'ALLAH.
Questions: 20 | Attempts: 164 | Last updated: Feb 5, 2013
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Sample QuestionFinancial accounting is focused on the __________ financial statements of a company.
Questions: 55 | Attempts: 103 | Last updated: Sep 7, 2020
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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:
Questions: 33 | Attempts: 79 | Last updated: Dec 12, 2019
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Sample QuestionOne of the differences between accounting for a governmental (not-for-profit) unit and a commercial (for-profit) enterprise is that a governmental unit should:
Questions: 23 | Attempts: 74 | Last updated: Nov 6, 2017
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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
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: 63 | Last updated: Jan 17, 2020
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Sample QuestionProper recording of any dealing between two persons involving money or a valuable thing is called ________
- Financial issues, - Third Party Programs, - Online Adjudication, - Rejected Claims, - Other Billing Procedures
Questions: 45 | Attempts: 63 | Last updated: Dec 19, 2011
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Sample QuestionThe resolution of prescription coverage through the communication of the pharamacy computer with the third party computer
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: 39 | Last updated: Sep 2, 2020
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Sample QuestionWithin how many hours of the deal itself must other transactions flow in order to display as selectable discoveries?
O presente questionário solicita que o usuário apenas reporte qual emoção é transmitida pelas imagens exibidas. As respostas são de múltipla escolha e tem caráter subjetivo,...
Questions: 41 | Attempts: 31 | Last updated: Oct 6, 2014
Financial Accouting Midterm Practice Part 2Questons 1-36 from Quiz 3
Questions: 57 | Attempts: 28 | Last updated: Jan 2, 2013
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Sample QuestionWhich of the following best represents the expanded accounting equation?
Financial Accouting Midterm Practice Chapter 1 questions are 1-41Test 2 questions 42-66Chapter 2 questions 67-
Questions: 99 | Attempts: 28 | Last updated: Dec 31, 2012
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Sample QuestionWhich of the following groups has primary responsibility for developing the GAAP?
Basic concepts
Questions: 20 | Attempts: 24 | Last updated: Dec 17, 2011
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Sample QuestionIdentify whether this item belongs to the Income Statement (IS), Balance Sheet (BS), Statement of Retained Earnings (SRE), or Statement of Cash Flows (SCF). Some items may appear in more than one statement. Dividends
Questions: 8 | Attempts: 21 | Last updated: Feb 11, 2013
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Sample QuestionThe payment of a liability in cash will decrease stockholders' equity.
