11th Grade Accounting Quizzes, Questions & Answers
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Get ready to test your knowledge with these Accrual Accounting MCQ quiz questions and answers that we have here for you. The quiz below has a few questions that you need to answer correctly. The quiz is also a good way to enhance...
Questions: 25 | Attempts: 6373 | Last updated: Sep 30, 2024
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Sample QuestionAccording to the FASB, a company that wishes to comply with GAAP will use:
Questions: 25 | Attempts: 2032 | Last updated: Feb 14, 2024
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Sample QuestionThe salary of a corporate office security guard is considered a(n):
Questions: 69 | Attempts: 1435 | Last updated: Aug 14, 2024
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Sample QuestionThe balance in a sales ledger control account indicates:
Questions: 40 | Attempts: 554 | Last updated: Mar 20, 2023
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Sample QuestionUnder accrual accounting, revenue is recorded
Questions: 80 | Attempts: 576 | Last updated: Mar 22, 2023
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Sample QuestionWhen using the perpetual inventory system, freight charges on goods purchased are debited to inventory.
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Questions: 20 | Attempts: 333 | Last updated: Mar 22, 2023
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Sample QuestionIf the actual overhead is $152,000 and the flexible budget overhead for actual production is $151,000, the controllable overhead variance is Select one:
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Questions: 30 | Attempts: 235 | Last updated: Apr 10, 2024
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Sample QuestionThe Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY
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Questions: 30 | Attempts: 172 | Last updated: Feb 1, 2023
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Sample QuestionPenghasilan 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...
Take this quiz to learn more Account.
Questions: 23 | Attempts: 291 | Last updated: Mar 21, 2023
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Sample QuestionThe most useful financial statement for analyzing a company’s profitability is the:
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: 251 | Last updated: Mar 22, 2023
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Sample QuestionA 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?
Please complete the following self-assessment quiz - Test your own knowledge but if necessary please refer back to the training materials, manuals and/or other relevant resources to complete the questions
Questions: 16 | Attempts: 169 | Last updated: Mar 20, 2023
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Sample QuestionA financial audit for a company is performed before the release of the financial statements on an annual basis; The Audit typically has 3 stages; select the correct order from one of the following statements below
Below is a quiz on ACCT 302: Accounting For Manufacturing Company Inventory! In a manufacturing company, the inventory consists of items such as property, goods in stock, or the contents of a building. They must all be accounted...
Questions: 16 | Attempts: 290 | Last updated: Mar 19, 2023
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Sample QuestionPederson Company reported the following: Manufacturing costs $2,000,000 Units manufactured 50,000 Units sold 47,000 units sold for $75 per unit Beginning inventory 0 units What is the amount of gross profit margin?
How to post sales, trade debtors and bad debt.A thorough course in Basic Financial accountingImage courtesy of adamr / FreeDigitalPhotos.net
Questions: 7 | Attempts: 252 | Last updated: Mar 21, 2023
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Sample Question28. 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 changes in cost and volume of the output have an effect on the company’s operating and net income. We have already covered what there is on calculation and effect of these changes to the organization. The quiz below...
Questions: 30 | Attempts: 345 | Last updated: Mar 21, 2023
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Sample QuestionThe unit contribution margin is computed by:
Assessment of comprehension and application of concepts presented in the TIGI Primer on Hospital Accounting and Finance.
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Questions: 15 | Attempts: 86 | Last updated: Nov 15, 2023
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Sample QuestionIncome for a hospital or health system is recognized when:
As an accounting student, you need to ensure that you are up to date with what you study. This accounting test is specially created to test your accounting skills with intermediate level questions. Only the brightest of...
Questions: 20 | Attempts: 738 | Last updated: Mar 21, 2023
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Sample QuestionUsing the FIFO method answer the following question. A company purchases 25 units at a price of $5 each. Then they purchase 10 units at the price of $4 each. Afterwards, they sell 30 units at a price of $10 each. Then they sell 2 units at a price of $15. Then they sell 3 units at the price of $15 each. What is the COGS?
Process costing is very different from job costing. While one is the accumulation of dingle costs throughout the process the other is an accumulation of all cost involved for a process. Do you believe you can distinguish...
Questions: 8 | Attempts: 136 | Last updated: May 8, 2024
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Sample QuestionDirect labor costs plus manufacturing overhead costs equal:
Calculating costs involves during manufacturing can help a company not where most of the money in the process goes to. How improved are your skills of calculating these costs? The quiz below is designed to answer just that....
Questions: 14 | Attempts: 449 | Last updated: Sep 5, 2023
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Sample QuestionThe full-time employees at Percy Enterprises work 8 hours per day, while the part-time employees work 4 hours per day. Percy has 2,000 full-time employees and 800 part-time employees. What is the number of full-time equivalent employees?
Do you feel confident that what we covered in the previous class on processes costing is now well understood? Take up the quiz and let the score show if you are ready to dive deeper into what process costing is all about. All...
Questions: 14 | Attempts: 513 | Last updated: Mar 22, 2023
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Sample QuestionWhen units are moved from one processing department to the next, the cost associated with those units must also be moved from one WIP account to the next. These costs are called:
Questions: 11 | Attempts: 828 | Last updated: Mar 22, 2023
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Sample QuestionThe journal entry needed to record the receipt of a bill from the company’s marketing agency would include a:
In today’s class we covered how to correct misallocations of overhead cost and journal entries in a manufacturing account. The test below is designed to test how well you understood out previous class and if you can...
Questions: 12 | Attempts: 514 | Last updated: Mar 21, 2023
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Sample QuestionIf manufacturing overhead has been underallocated during the period, and most of the jobs produced have been sold, then:
Questions: 11 | Attempts: 316 | Last updated: Mar 19, 2023
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Sample QuestionHow do you calculate the predetermined manufacturing overhead rate used to allocate manufacturing overhead costs?
Today we covered chapter three which was about job costing. This usually occurs with goods made after an order. As discussed job costing gives an accountant an overview of what each manufacturing will cost the company. What...
Questions: 55 | Attempts: 230 | Last updated: Mar 21, 2023
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Sample QuestionWhat are the two basic types of costing systems?
So far we have covered seven chapters in accounting 201. This most recent chapter we covered assets and how changes in the assets are recorded. Take up the quiz below and see what you recall so far. Give it your best and...
Questions: 39 | Attempts: 176 | Last updated: Mar 21, 2023
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Sample QuestionLong-lived tangible assets that are used in the operation of the business are called:
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: 562 | Last updated: Mar 21, 2023
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Sample QuestionLong-lived tangible assets that are used in the operation of the business are called:
Securities are divided into debt and equity securities. Trading in securities is one form of investment that guarantees maximum profits when properly placed. Did you understand this chapter fully? The quiz below is designed...
Questions: 38 | Attempts: 399 | Last updated: Mar 21, 2023
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Sample QuestionInvestments that a company plans to hold for one year or less are:
Questions: 8 | Attempts: 377 | Last updated: Mar 20, 2023
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Sample QuestionThe revenue recognition concept:
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