Accounting Quizzes, Questions & Answers
Recent Quizzes
Questions: 173 | Attempts: 900 | Last updated: Oct 18, 2023
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Sample QuestionOn 1.1.05 X draws a bill on Y for Rs.20,000 for 3 months. Due date of the bill will be:
Have you been studying accounting? If yes, then it should not be a problem for you to pass this double entry accounting trivia quiz. Double-entry accounting is known as a system that needs two book entries — one debit and...
Questions: 10 | Attempts: 5431 | Last updated: Sep 30, 2024
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Sample QuestionWhich of the following statements about double-entry accounting is incorrect?
CDC 2010/11
Questions: 32 | Attempts: 110 | Last updated: Mar 14, 2024
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Sample QuestionAccouting Classifications: What type of account does not use the third digit?
Are you looking for a way to test your knowledge about billing and invoicing? There are different types of invoices that can be given out, and they are differentiated by checking the contents. A wrong bill can lead to a lot of...
Questions: 5 | Attempts: 1253 | Last updated: Mar 21, 2023
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Sample QuestionWhat is the difference between a collective billing document and an individual billing document?
Questions: 27 | Attempts: 770 | Last updated: Mar 20, 2023
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Sample QuestionWhat is IAS 1?
Questions: 8 | Attempts: 377 | Last updated: Mar 20, 2023
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Sample QuestionThe revenue recognition concept:
Created for Anoush!
This quiz has 15 questions.
Select an answer, if you don't know it, take a guess!
Each question is worth 1.5 marks.
Questions: 25 | Attempts: 360 | Last updated: Mar 22, 2023
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Sample QuestionWhat term is used to describe factors in a decision problem that cannot be expressed effectively in numerical terms?
Below is an ACCT 1003 quiz on cost and management accounting. The cost and management perspective are comparative in the provision of data and analyses reports that can be used by managers to make decisions that will lead to long...
Questions: 5 | Attempts: 1036 | Last updated: Mar 21, 2023
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Sample QuestionWhen a continuous record is kept of the quantities and cost of merchandise on hand, the inventory system is referred to as periodic.
Questions: 29 | Attempts: 2783 | Last updated: Mar 22, 2023
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Sample Question21. Major reasons why a company may become involved in leasing to other companies is (are)
Questions: 15 | Attempts: 616 | Last updated: Mar 22, 2023
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Sample QuestionThe source document for cash payments is a(n):
Questions: 25 | Attempts: 463 | Last updated: Mar 22, 2023
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Sample QuestionThe analysis of the relationship between what a company buys an item for and the level of sales and their impact on income is known as:
Questions: 25 | Attempts: 1009 | Last updated: Aug 30, 2024
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Sample QuestionBased on the information in Table M5-2, assuming Laramie Tack & Saddle uses the high-low method to separate mixed costs, if the company processes 4,100 packages during July, the total variable cost will be:
Questions: 25 | Attempts: 577 | Last updated: Mar 21, 2023
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Sample QuestionWhen the firm tests 9,000 components during the month, based on the information in Table M4-1, the amount of overhead applied during the period for the quality pool is:
Questions: 25 | Attempts: 2033 | Last updated: Feb 14, 2024
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Sample QuestionThe salary of a corporate office security guard is considered a(n):
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
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Sample QuestionCurrent Assets have which of the following characteristics:
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
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Sample QuestionWhat are the three sections of the Balance Sheet?
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: 849 | Last updated: Aug 22, 2024
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Sample QuestionYou make a cash sale for £200 (No VAT). Which of the following pairs of nominal accounts are affected?
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: 6379 | Last updated: Sep 30, 2024
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Sample QuestionAccording to the FASB, a company that wishes to comply with GAAP will use:
This is a brief quiz to review grade 11 accounting material.
Questions: 10 | Attempts: 8574 | Last updated: Nov 5, 2024
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Sample QuestionWhich of the following is not a feature of the Balance Sheet?
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: 4041 | Last updated: Jul 10, 2024
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Sample QuestionWhen a business uses a petty cash fund, the fund is debited each time it is replaced.
Practical accounting 1
Questions: 5 | Attempts: 951 | Last updated: Mar 21, 2023
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Sample Question1. 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
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: 288 | Last updated: Dec 29, 2023
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Sample QuestionFor corporations and limited liability companies the shareholders are entitled to a share of the companies profits - this is called a what?
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: 223 | Last updated: Dec 29, 2023
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Sample QuestionA(n) ................ is something that has future or potential value.
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: 3856 | Last updated: Nov 17, 2023
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Sample QuestionWhich 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
Questions: 39 | Attempts: 409 | Last updated: Mar 21, 2023
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Sample QuestionA formal written statement of management's plans for the future, expressed in financial terms, is a:
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