Accounting Quizzes, Questions & Answers

Recent Quizzes

MCQ On Ifrs Vs Gaap

MCQ on IFRS vs GAAP

Questions: 10 | Attempts: 720 | Last updated: Mar 22, 2023

Sample Question
What are the two main financial reporting standard setting bodies?

IFRS and US GAAP

IASB and FASB

SEC and FSA

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: 257 | 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.

Advanced Financial Accounting Exam Quiz!

Questions: 10 | Attempts: 3266 | Last updated: Aug 29, 2023

Sample Question
What is the basic principle for measuring inventories?

Inventories shall be measured at the lower of cost and value in use.

Inventories shall be measured at the lower of fair value and value in use.

Inventories shall be measured at the lower of fair value and net realizable value.

Inventories shall be measured at the lower of cost and net realizable value.

12 Accounting - December 3, 2015

Basic accounting entails knowing what is being debited and what is being credited to an account. Other than that there is knowledge of how to treat the different transactions in the company’s books. Test your basic...

Questions: 10 | Attempts: 73 | Last updated: Mar 21, 2023

Sample Question
What type of account is Allowance for Doubtful Accounts?

Asset

Expense

Contra-asset

Contra-expense

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

How To Fill Out A Cheque Quiz

How to fill out a cheque quiz

Play this quiz to know perfectly how to fill a cheque.

Questions: 8 | Attempts: 647 | Last updated: Mar 21, 2023

Sample Question
How many lines are there on a cheque that you need to fill out?

1

15

3

5

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: 295 | 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

Accounting Exam 3 Review

Questions: 31 | Attempts: 231 | Last updated: Mar 20, 2023

Sample Question
If a company issues common stock for $40,000 and uses $30,000 of the cash to purchase a truck,

Assets will be increased by $10,000

Equity will be reduced by $40,000

Assets will be increased by $40,000

Assets will be unchanged

Myob Accounting 18

MYOB Accounting 18

Pilih lah jawaban yang paling tepat!

Questions: 45 | Attempts: 1550 | Last updated: Mar 21, 2023

Sample Question
Program MYOB merupakan program yang dibuat oleh perusahaan MYOB yang berada di negara...

Indonesia

Singapura

Canada

Australia

Amerika

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