11th Grade Accounting Quizzes, Questions & Answers

Spark curiosity and test your child’s 11th grade 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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Exam On Accounting: Quiz!

Questions: 25 | Attempts: 2155 | Last updated: Feb 14, 2024

Sample Question
The salary of a corporate office security guard is considered a(n):

Period cost

Factory overhead

Inventoriable cost

Product cost

Accrual Accounting MCQ Quiz Questions And Answers

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: 6459 | Last updated: Jan 13, 2025

Sample Question
According to the FASB, a company that wishes to comply with GAAP will use:

The cash basis, since the accrual basis, takes the focus off of the company’s cash flows

Either basis, depending on which results in the company wants to give to financial statement users

The cash basis of accounting for small companies only

The accrual basis of accounting

Financial Accounting Practice Exam Quiz!

Questions: 69 | Attempts: 1480 | 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

Accounting 201 - Chapter 3 Quiz Questions

Questions: 40 | Attempts: 558 | Last updated: Mar 20, 2023

Sample Question
Under accrual accounting, revenue is recorded

When the cash is collected, regardless of when the services are performed

When the services are performed, regardless of when the cash is received

Either when the cash is received or the sale is made

Managerial Accounting Chapter 5 & 6

Questions: 20 | Attempts: 342 | Last updated: Mar 21, 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

Recent Quizzes

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

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

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: 176 | 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,-

Test Your Knowledge On Accounting

Test your knowledge on Accounting

Take this quiz to learn more Account.

Questions: 23 | Attempts: 291 | Last updated: Mar 21, 2023

Sample Question
The most useful financial statement for analyzing a company’s profitability is the:

Balance Sheet

Statement of Retained Earnings

Statement of Cash Flows

Income Statement

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: 252 | Last updated: Mar 22, 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.

K231-ind-ny - Accounting And Applications

K231-IND-NY - Accounting and Applications

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

Sample Question
A 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

Substantive Procedures, Management Letter, Planning & Risk Assesment

Planning & Risk Assessment, Management Letter, Substantive Procedures

Substantive Procedures, Planning & Risk Assessment, Management Letter

Planning & Risk Assessment, Substantive Procedures, Management Letter

ACCT 302: Accounting For Manufacturing Company Inventory! Trivia Quiz

ACCT 302: Accounting for Manufacturing Company Inventory! Trivia Quiz

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: 294 | Last updated: Mar 19, 2023

Sample Question
Pederson 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?

$1,750,000

$3,525,000

$5,405,000

$1,645,000

Basic Financial Accounting - Sales, Trade Debtors And Bad Debt

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: 257 | Last updated: Mar 21, 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 202 - Chapter 7 Mixed

Accounting 202 - Chapter 7 mixed

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: 346 | Last updated: Mar 21, 2023

Sample Question
The unit contribution margin is computed by:

Dividing the variable cost per unit by the sales revenue.

Subtracting the sales price per unit from the variable cost per unit

Subtracting the variable cost per unit from the sales price per unit

Dividing the sales revenue by variable cost per unit

Tigi Primer On Hospital Accounting & Finance

TIGI Primer on Hospital Accounting & Finance

Assessment of comprehension and application of concepts presented in the TIGI Primer on Hospital Accounting and Finance. #next_pages_container { width: 5px; hight: 5px; position: absolute; top: -100px; left: -100px; z-index:...

Questions: 15 | Attempts: 89 | Last updated: Nov 15, 2023

Sample Question
Income for a hospital or health system is recognized when:

When patient services are provided

When charges are posted

When reimbursement is collected

When a patient submits a co-payment

When charges and reimbursements are matched

Your Accounting Skill Test

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

Sample Question
Using 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?

$165

$375

$465

None of the above

Accounting 202 - Chapter 5.3

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: 139 | Last updated: May 8, 2024

Sample Question
Direct labor costs plus manufacturing overhead costs equal:

Prime costs.

Operating costs.

Equivalent costs.

Conversion costs.

Accounting 202 - Chapter 5.2

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: 450 | Last updated: Sep 5, 2023

Sample Question
The 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?

2,000

1,400

2,400

2,800

Accounting 202 - Chapter 5.1

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

Sample Question
When 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:

Transported costs.

Transmitted costs.

Conveyed costs.

Transferred costs.

Accounting 202: MCQ Quiz Exam!

Questions: 11 | Attempts: 828 | Last updated: Mar 22, 2023

Sample Question
The journal entry needed to record the receipt of a bill from the company’s marketing agency would include a:

Debit to manufacturing overhead

Debit to marketing expenses

Debit to work in process inventory

Credit to work in process inventory

Accounting 202 - Chapter 3.4

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: 515 | Last updated: Mar 21, 2023

Sample Question
If manufacturing overhead has been underallocated during the period, and most of the jobs produced have been sold, then:

Cost of goods sold should be decreased

Cost of goods sold should be increased

Finished goods inventory should be increased

Work in process inventory should be decreased

Accounting 202 Exam: Practice Quiz!

Questions: 11 | Attempts: 318 | Last updated: Mar 19, 2023

Sample Question
How do you calculate the predetermined manufacturing overhead rate used to allocate manufacturing overhead costs?

. By dividing the total estimated manufacturing overhead costs by the total estimated amount of the allocation base

By dividing the total estimated amount of the allocation base by the total estimated manufacturing overhead costs

By dividing the total estimated manufacturing overhead costs by the total actual amount of the allocation base

By multiplying the total estimated manufacturing overhead costs by the total estimated amount of the allocation base

Accounting 202 - Chapter 3

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: 231 | Last updated: Mar 21, 2023

Sample Question
What are the two basic types of costing systems?

Job costing and process costing

Periodic costing and perpetual costing

Product costing and materials inventory costing

Periodic costing and process costing

Accounting 201 - Chapter 7 Copy

Accounting 201 - Chapter 7 copy

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: 181 | 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.

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: 562 | 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.

Accounting 201 - Chapter 5

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: 401 | Last updated: Mar 21, 2023

Sample Question
Investments that a company plans to hold for one year or less are:

Long-term investments.

Short-term investments.

Marketable securities.

Both B and C.

Test Your Accounting Basics: Quiz!

Test your Accounting Basics: Quiz!

Questions: 8 | Attempts: 377 | Last updated: Mar 20, 2023

Sample Question
The revenue recognition concept:

Controls all revenue reporting for the cash basis of accounting

Determines when revenue is credited to a revenue account

Is in not in conflict with the cash method of accounting

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Popular Quizzes

Grade 11 Accounting Review Trivia Quiz

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

Questions: 10 | Attempts: 8620 | 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

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: 3260 | 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 Accounting Quizzes, Questions & Answers

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