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: 50257 | 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: 28498 | 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: 6863 | 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: 6306 | 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.

FBLA Accounting Exam: Trivia Quiz!

Are you familiar with FBLA accounting? The is an American career and technical student association headquartered in Reston, Virginia, which is The Future Business Leaders of America-phi Beta Lambda or FBLA-PBL. . It was...

Questions: 40 | Attempts: 4767 | Last updated: Jul 10, 2024

Sample Question
When a business uses a petty cash fund, the fund is debited each time it is replaced.

True

False

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: 1137 | 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: 1252 | Last updated: Jan 13, 2025

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: 1521 | 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: 1427 | 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: 1327 | 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: 1080 | Last updated: Jan 13, 2025

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: 736 | 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: 136 | 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: 219 | 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: 351 | 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

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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: 27632 | 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

Introduction To Accounting Quiz!

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: 16995 | 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

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: 16265 | 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: 8876 | 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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