11th Grade Financial Accounting Quizzes, Questions & Answers

Spark curiosity and test your child’s 11th grade Financial Accounting knowledge with our engaging quizzes! Perfect for practice at home or in the classroom—encourage learning through play and exploration.

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Financial Accounting Practice Exam Quiz!

The 'Financial Accounting Practice Exam Quiz!' assesses key skills in financial accounting, covering topics like ledger balances, profit calculations, and accounting for raw materials. This quiz is designed to test understanding...

Questions: 69 | Attempts: 1536 | Last updated: Aug 14, 2024

Sample Question
The balance in a sales ledger control account indicates:

Difference between debtors and creditors

Total sales

total purchases

Total debtors

Financial Accounting Test 2

This Quiz is to test your accounting information, its an advanced questions. After you finish, you will review your answers before submit and then you will get your result with analysis & correct answer. Financial...

Questions: 15 | Attempts: 264 | Last updated: Mar 21, 2023

Sample Question
A manufacturing company recognized a valuation provision to inventories due to their obsolescence. Can the manufacturing offsetting inventory valuation provision against inventory balance in the statement of financial position?

No, because its not permit to offsetting of assets and liabilities unless is it allowed by another standard.

Yes, because this situation is not offsetting.

Yes, because in this case, offsetting leads to better understanding of the financial statements by their users.

No, because the assets and liabilities shall not be offset.

Basic Financial Accounting - Sales, Trade Debtors And Bad Debt

How to post sales, trade debtors and bad debt.A thorough course in Basic Financial accountingImage courtesy of adamr / FreeDigitalPhotos.net

Questions: 7 | Attempts: 258 | Last updated: Mar 20, 2023

Sample Question
28. Journal entry of payment from debtor (customer) - always ignoring VATA company just received payment from an earlier credit sale to a costumer. The amount received is 75.000. The amount is transferred from the costumer into the company’s bank account.How should the information above be posted?

The trade debtors account (asset) is credited 75.000 while the bank account (asset) is debited 75.000.

The trade debtors account (asset) is credited 75.000 while the cash account (asset) is debited 75.000.

The other debtors account (asset) is credited 75.000 while the bank account (asset) is debited 75.000.

The trade debtors account (asset) is debited 75.000 while the bank account (asset) is credited 75.000.

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.

Basic Financial Accounting Concepts! Quiz

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 basic quiz has been developed to test your knowledge of...

Questions: 10 | Attempts: 3274 | Last updated: Mar 21, 2023

Sample Question
How is the income statement affected when a company issues stock?

Income is greatly effected.

No income statement effect. Purely balance sheet.

Balance sheet is not effected

One thru three are all correct

None of the above

11th Grade Financial Accounting Quizzes, Questions & Answers

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