Accounting Quizzes, Questions & Answers

Recent Quizzes

This quiz will test your understanding of the material covered in the fourth chapter of "What You Really Need to Know About Accounting". Visit http://www.notforaccountants.com/learning-tools.php for more...

Questions: 10 | Attempts: 62 | Last updated: Jun 20, 2023

Sample Question
Current Assets have which of the following characteristics:

They can be used to satisfy Current Liabilities

They tend to be more liquid than Long Term Liabilities

They show up first on the Balance Sheet

All of the above

Wyrnkaa - Chapter 3 Review Questions

WYRNKAA - Chapter 3 Review Questions

This quiz will test your understanding of the material covered in the third chapter of "What You Really Need to Know About Accounting". Visit http://www.notforaccountants.com/learning-tools.php for more...

Questions: 10 | Attempts: 96 | Last updated: Feb 6, 2024

Sample Question
What are the three sections of the Balance Sheet?

Assets, Expenses, and Equity

Assets, Equity, and Net Cash

Assets, Accounts Payable, and Retained Earnings

Assets, Liabilities, and Equity

Computerised Accounting Quiz: Test!

Have you ever heard of computerized accounting? Computerized accounting system is made up of diverse controls, activities, and methods for the summarization, classification, recording, and assembly of financial information to...

Questions: 10 | Attempts: 920 | Last updated: Aug 22, 2024

Sample Question
You make a cash sale for £200 (No VAT). Which of the following pairs of nominal accounts are affected?

Rent Account and Bank Account

Cash Account and Sales Account

Sales Account and Trade Debtors Account

Purchases Account and Bank Account

Accrual Accounting MCQ Quiz Questions And Answers

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: 6564 | 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

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

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: 4772 | 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

Practical Accounting 1

practical accounting 1

Practical accounting 1

Questions: 5 | Attempts: 972 | Last updated: Mar 21, 2023

Sample Question
1. Alpha Company provided the following information relating to the current year: Net income 3,500,000 Unrealized gain on available for sale securities 250,000 Foreign currency translation adjustment – credit 50,000 Revaluation surplus 1,000,000

3,800,000

4,800,000

P4,750,000

Accounting Basics Quiz - Stock/Shareholders Equity

The Accounting Basics Quiz on Stock/Shareholders' Equity is designed to evaluate your understanding of fundamental accounting concepts related to stockholders' equity. This quiz encompasses various topics, including the...

Questions: 8 | Attempts: 299 | Last updated: Dec 29, 2023

Sample Question
For corporations and limited liability companies the shareholders are entitled to a share of the companies profits - this is called a what?

Drawing

Withdrawal

Dividend

Accounting Basics Quiz - Assets

The Accounting Basics Quiz on Assets is designed to evaluate your comprehension of fundamental accounting concepts related to assets. This quiz covers a variety of topics, including the classification of assets, the accounting...

Questions: 8 | Attempts: 380 | Last updated: Dec 29, 2023

Sample Question
A(n) ................ is something that has future or potential value.

Liability

Asset

Stockholder

TOA Accounting Concepts Test

Accounting is an interesting concept. If you are a student of accountancy and want to test your knowledge regarding this subject, this 'TOA Accounting Test' is perfect for you. In this quiz, we will ask you MCQ questions...

Questions: 24 | Attempts: 3890 | Last updated: Nov 17, 2023

Sample Question
Which of the following statements is/are true? I. Accounting is a service activity intended to fulfill a useful function in society II. Accounting involves the art of recording, classifying, and summarizing transactions and events, and interpreting the results thereof. III. Accounting is an art but not a science IV. Accounting provides quantitative financial information intended to be useful in making economic decisions

I, II, III, IV

I, II, III

I, II, IV

II, III, IV

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