Accounting Quizzes, Questions & Answers

Have you been searching for some best accounting quizzes on the internet? Well, your search ends here as we have tons of exciting accounting quizzes for you waiting to be played. Accounting is necessary to predict and measure the growth of a business. With the requirement of this important function for any business, you should stay abreast of the terms and formulas required for it.

Do you know the fundamentals of accounting? Are you aware of the rules and formulas of accounting? Try our interesting online accounting quizzes that will help you learn the basics with every question you attempt. These quizzes will give you a slight reality check on your current knowledge and provide you an opportunity to learn more as you attempt them. Let's go!

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Top Trending Quizzes

Basic Accounting Quiz Questions And Answers

Here's an awesome 'Basic Accounting Quiz' for all the students studying accounts! Accounting is something that is existent in different companies and is essential to ensure that a business keeps on growing. The...

Questions: 10 | Attempts: 47934 | Last updated: Mar 24, 2022

Sample Question
Profit is equal to:

Income minus expenses

Receipts minus expenditures

Inflows minus outflows

Revenue minus expenses

Fundamentals Of Accounting Test Quiz!

Accounting is a tool to record and analyze the financial condition and performance of the business. Some people simply can’t understand the stats and figures. But some possess deep knowledge and concepts about...

Questions: 10 | Attempts: 27097 | Last updated: Apr 29, 2024

Sample Question
Which financial statement displays the revenues and expenses of a company for a period of time?

Income Statement

Balance Sheet

Cash Flow Statement

Statement of Stockholder's Equity

Hardest Accounting Exam Quiz

Are you ready to take the most challenging accounting exam? Could you pass this quiz? The financial accounting exam involves concepts that are taught to new students. Accounting is when a professional evaluates numbers and...

Questions: 79 | Attempts: 5977 | Last updated: Oct 20, 2024

Sample Question
Financial transactions are summarized in:

Financial statement footnotes

The independent auditor's opinion letter

The entity's accounts

None of the above

Double Entry Accounting Trivia Quiz

Have you been studying accounting? If yes, then it should not be a problem for you to pass this double entry accounting trivia quiz. Double-entry accounting is known as a system that needs two book entries — one debit and...

Questions: 10 | Attempts: 5570 | Last updated: Sep 30, 2024

Sample Question
Which of the following statements about double-entry accounting is incorrect?

Every transaction affects at least two accounts.

Debits always increase an account balance, while credits always decrease it.

The accounting equation (Assets = Liabilities + Equity) must always be in balance.

Double-entry bookkeeping helps in detecting errors and preventing fraud.

Introduction To Accounting Quiz!

What is accounting? Take this quiz on introduction to accounting and see what knowledge you have. It is basically the process related to finances and other information about businesses and corporations....

Questions: 25 | Attempts: 16694 | Last updated: Dec 2, 2024

Sample Question
The Accounting Equation is

Owner's Equity = Assets + Liabilities

Assets = Liabilities - Owner's Equity

Assets = Liabilities + Owner's Equity

None of the above

Recent Quizzes

Management Financial And Cost Accounting MCQs With Answers

Play this knowledgeable 'Management Financial And Cost Accounting MCQs With Answers' quiz and check how good are you in the cost accounting management system. This test covers many subtopics like costing, budgeting,...

Questions: 12 | Attempts: 1052 | Last updated: Mar 22, 2023

Sample Question
Estimate the Materials to be debited to Contract A/c. Materials direct to site Rs.4,40,000; Materials returned to store Rs.20,000 and Materials received from Store Rs.81,200.

Rs.500,000

Rs.500,200

Rs.510,200

Rs.501,200

Financial Accounting Sss 1

FINANCIAL ACCOUNTING SSS 1

Questions: 50 | Attempts: 1091 | Last updated: Jan 25, 2023

Sample Question
Another word for start-up fund for business is ……… a

……… a) loan

B) bank savings

C) capital

D) cash balance

Financial Accounting Practice Exam Quiz!

Questions: 69 | Attempts: 1449 | 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

SAP S/4hana For Financial Accounting Associates - Mini

SAP S/4HANA for Financial Accounting Associates - Mini

Financial Accounting Associates - Mini

Questions: 120 | Attempts: 1390 | Last updated: Jan 27, 2023

Sample Question
Cleared items contain which of the following pieces of information?

Clearing document number

Due date

Clearing date

Archival information

C_ts4fi_1809 - SAP Certified Application Associate - SAP S/4hana For Financial Accounting Associates...

C_TS4FI_1809 - SAP Certified Application Associate - SAP S/4HANA for Financial Accounting Associates...

Questions: 67 | Attempts: 1316 | Last updated: Jan 27, 2023

Sample Question
How do you configure depreciation areas in SAP S/4HANA?

Assign depreciation area 01 to the leading ledger.

Assign a ledger group to each depreciation area.

Ensure each accounting principle is assigned to a depreciation area

Ensure depreciation areas always post to the general ledger.

Accounting Concepts Test Quiz! Trivia

Accounting concepts are out in place to ensure that accounting processes are uniform. An accountant must have a good understanding of these concepts. Did you know that once a business chooses to use a specific accounting...

Questions: 10 | Attempts: 1015 | Last updated: Mar 22, 2023

Sample Question
Which one of the following is a current liability?

Debtor

Creditor

Advertisement

Debentures

Accounting Concepts Quiz! Trivia Knowledge

Welcome to the Accounting Concepts Knowledge Quiz. There are different guidelines to follow when it comes to bookkeeping, and they include accounting concepts, principles, and laws. Revenue is only recognized when there is a...

Questions: 10 | Attempts: 706 | Last updated: Mar 22, 2023

Sample Question
Accrual concept is based on

Matching concept

Cost concept

Dual aspect concept

Going concern concept

Chapter 11: Managing Current Asset

Questions: 10 | Attempts: 122 | Last updated: Jan 27, 2023

Sample Question
Which of the following is generally not a step in the debt collection process?

Send an 'account rendered' statement

Post an 'account overdue' letter

Put the unpaid account into the hands of a solicitor

None of the above

Financial Accounting: Sales, Marketing And Customer Service Quiz!

Questions: 5 | Attempts: 200 | Last updated: Mar 21, 2023

Sample Question
The functions of the Sales Office include

Promoting goods and services

Monitoring of stock

Expediting payment to customers

Making enquiries

Managerial Accounting Chapter 5 & 6

Questions: 20 | Attempts: 336 | Last updated: Mar 22, 2023

Sample Question
If the actual overhead is $152,000 and the flexible budget overhead for actual production is $151,000, the controllable overhead variance is Select one:

A. $1000 favorable

B. $1000 unfavorable

C. 0

D. None of the above

Bba LLB SEC E_quiz2_principles Of Accounting

BBA LLB SEC E_QUIZ2_Principles of Accounting

Maximum Marks for this Quiz will be 30. Ten questions carry 2 marks with a negative mark of .5 (1/4) for each wrong answer. (10x2) Two questions have 5 marks with a negative mark of 1.25 (1/4) for each wrong answer...

Questions: 12 | Attempts: 183 | Last updated: Mar 15, 2023

Sample Question
The Cash Flow Statement can be prepared with Direct or Indirect Method. The difference in presentation between both the methods affects

Investing Section only

Operating Section only

Financing Section only

All of the above

Accountancy Quiz MCQ: Exam!

Questions: 15 | Attempts: 444 | Last updated: Mar 22, 2023

Sample Question
A company had a doubtful debt provision of £14,000 on 31 December 2008. Its trade receivables at 31 December 2009 were £198,200. The company considers that receivables totaling £12,200 will not be paid and in addition planned to make a doubtful debt provision for 10% of its net receivables on 31 December 2009. What is the charge for bad and doubtful debts in the income statement for the year ended 31 December 2009?

£32,600

£44,800

£16,800

£12,200

Accounting 1 Midterm Pre-examination

ACCOUNTING 1 MIDTERM PRE-EXAMINATION

Questions: 80 | Attempts: 580 | Last updated: Mar 22, 2023

Sample Question
When using the perpetual inventory system, freight charges on goods purchased are debited to inventory.

True

False

Test Your Accounting Concepts Knowledge! Trivia Questions Quiz

Test your Accounting Concepts Knowledge! Trivia Questions Quiz

Test Your Accounting Concepts Knowledge using this Trivia Questions Quiz. Accounting is a major department in any organization as it is tasked with collection, recording and use of funds as needed to meet the objectives of the...

Questions: 10 | Attempts: 214 | Last updated: Mar 22, 2023

Sample Question
Costs incurred to increase the operating efficiency, productive capacity, or useful life of a plant asset referred to as--------

Revenue expenditures

Capital expenditures

Both

None of the above

Classification Of Accounts Quiz: Exam!

Classification of Accounts Quiz: Exam!

Do you know how to classify accounts? Accounts classified as asset accounts, liability accounts, capital, or owner’s equity accounts, withdraw accounts, revenue or income accounts and express accounts. The five major...

Questions: 20 | Attempts: 2512 | Last updated: Mar 22, 2023

Sample Question
Jones Payable

Asset

Liability

Owner's Equity

Chart Of Accounts: Trivia Quiz!

Chart of Accounts: Trivia Quiz!

Have you ever heard of the chart of accounts? A chart of accounts is a list of financial accounts set up, usually by an accountant, for a corporation and available for the bookkeeper's use for recording transactions in the...

Questions: 15 | Attempts: 642 | Last updated: Mar 21, 2023

Sample Question
The chart of accounts has a list of:

Names of customers and suppliers

General ledger account names and numbers

Names of each inventory item

A CLEP Financial Accounting Quiz

Questions: 10 | Attempts: 270 | Last updated: Mar 21, 2023

Sample Question
What is the full meaning of GAAP?

Generalized Accepted Accounting Principles

Generally Accepted Accounting Principles

German All Accounting Principle

Generally Accepted Accounting Principal

Quizz On Internal Controls - Em Lyon - Prof. Idriss Elasri

Quizz on internal controls - EM Lyon - Prof. Idriss Elasri

Attention - multiple answers are possible

Questions: 10 | Attempts: 175 | Last updated: Mar 22, 2023

Sample Question
Which of the following is not a true statement ?

Putting controls in place will always cost more money

Controls help to ensure compliance with policies

Controls will help the organization achieve its mission

Controls will help protect the organization's assets

Prelim Accounting1-1st Semester Sy 2018-2019

Prelim Accounting1-1st Semester SY 2018-2019

Questions: 29 | Attempts: 157 | Last updated: Mar 21, 2023

Sample Question
The Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY

True

False

Accounting 1 (Summer 2018)

ACCOUNTING 1 (SUMMER 2018)

Hello Class! Congrats for making it to this point. Please give this your best shot! Good Bless!

Questions: 30 | Attempts: 235 | Last updated: Apr 10, 2024

Sample Question
The Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY

True

False

Intelligent Accounting Masterclass Quiz 1

Questions: 8 | Attempts: 96 | Last updated: Apr 10, 2023

Sample Question
Which one of the below is an accounting software?

Tally

Troyee

Xero

All of the above

What Do You Know About Cost Accounting

Cost accounting is a process of classifying, recording, analyzing summarizing, evaluating and assigning different courses of action for cost control. With that point made, how well ro you think you'll pass this quiz.

Questions: 10 | Attempts: 237 | Last updated: Mar 20, 2023

Sample Question
Cost accounting information is commonly used in?

Auditing

Evaluation

Balance Sheet Appropriation

Financial accounting

Accounting Systems Analysis And Design

Accounting Systems Analysis and Design

CMU-CBM 2017-2018

Questions: 32 | Attempts: 229 | Last updated: Feb 1, 2023

Sample Question
The process of understanding and specifying in detail what the information system should accomplish is called systems ____.

Design

Specification

Analysis

Administration

Babak Penyisihan Ppm Accounting Competition 2017

BABAK PENYISIHAN PPM ACCOUNTING COMPETITION 2017

Babak Penyisihan akan segera dimulai. Peserta diharapkan membaca ketentuan, langkah-langkah, dan peraturan yang tertera di bawah ini terlebih dahulu. Ketentuan Test Trial Babak...

Questions: 30 | Attempts: 174 | Last updated: Feb 1, 2023

Sample Question
Penghasilan perusahaan Rp.20.000.000,-Beban usaha Rp.7.000.000,-Prive Rp.3.000.000,-Jika Modal Awal Rp.55.000.000,- maka modal akhir adalah...

Rp. 65.000.000,-

Rp. 45.000.000,-

Rp. 79.000.000,-

Rp. 55.000.000,-

Basic Accounts Quiz: Trivia Exam!

Accounting is all about the proper reporting of business transactions in the correct books of accounts. This is done to correctly show how the company finances stand at a given point. What do you know about the double-entry...

Questions: 20 | Attempts: 171 | Last updated: Mar 20, 2023

Sample Question
The goal of managerial accounting is to provide the information that managers need for all of the following EXCEPT:

Planning

Control

Decision Making

Review

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Popular Quizzes

A Quick Accounting Knowledge Quiz!

Are you ready for a quick account knowledge test? Take this accounting quiz to check your understanding and learn new facts. For a business to prosper, they need funding, which can come through investments, cash, or selling...

Questions: 10 | Attempts: 27237 | Last updated: Sep 24, 2024

Sample Question
What is stockholders' equity?

Sales of products or services

Owners' claims to resources

Resources owned

Costs of selling products or services

Amounts owed

Accounting Source Documents Quiz

Source documents play a crucial role in the accounting industry as they contain details of all business transactions. Try this 'Accounting source documents quiz' that is designed to test your knowledge about source...

Questions: 15 | Attempts: 16070 | Last updated: Aug 18, 2023

Sample Question
A source document is:

The origin of the information that is recorded into the accounting books

The origin of the information that is taken from the accounting books

Not the origin of information that is recorded into the accounting books

All of the above

Grade 11 Accounting Review Trivia Quiz

This is a brief quiz to review grade 11 accounting material.

Questions: 10 | Attempts: 8593 | Last updated: Nov 5, 2024

Sample Question
Which of the following is not a feature of the Balance Sheet?

Assets

Liabilities

Owner's Equity

Expenses

Accounting Quizzes, Questions & Answers

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