Accounting Quizzes, Questions & Answers
Recent Quizzes
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: 185 | Last updated: Mar 15, 2023
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Sample QuestionThe Cash Flow Statement can be prepared with Direct or Indirect Method. The difference in presentation between both the methods affects
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Questions: 15 | Attempts: 460 | Last updated: Mar 22, 2023
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Sample QuestionA 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?
Questions: 80 | Attempts: 594 | 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.
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: 223 | Last updated: Mar 22, 2023
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Sample QuestionCosts incurred to increase the operating efficiency, productive capacity, or useful life of a plant asset referred to as--------
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: 2634 | Last updated: Mar 22, 2023
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Sample QuestionJones Payable
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: 697 | Last updated: Mar 21, 2023
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Sample QuestionThe chart of accounts has a list of:
Questions: 10 | Attempts: 272 | Last updated: Mar 21, 2023
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Sample QuestionWhat is the full meaning of GAAP?
Attention - multiple answers are possible
Questions: 10 | Attempts: 177 | Last updated: Mar 22, 2023
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Sample QuestionWhich of the following is not a true statement ?
Questions: 29 | Attempts: 158 | Last updated: Mar 21, 2023
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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: 240 | 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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