Accounting Quizzes, Questions & Answers

Recent Quizzes

Depreciation Accounting Hardest Test! Quiz

Do you know anything about depreciation accounting? Do you believe you can pass the quiz? To calculate depreciation, you should use the straight-line method. Subtract the salvage amount from the asset cost and divide the...

Questions: 158 | Attempts: 1345 | Last updated: Mar 22, 2023

Sample Question
The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as ___________.

Unit life

Useful life

Production life

Expected life

Bills Of Exchange Exam Quiz!

Questions: 173 | Attempts: 901 | Last updated: Oct 18, 2023

Sample Question
On 1.1.05 X draws a bill on Y for Rs.20,000 for 3 months. Due date of the bill will be:

1.4.05

3.4.05

4.4.05

4.5.05

Double Entry Accounting Trivia Quiz

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: 5793 | Last updated: Sep 30, 2024

Sample Question
Which of the following statements about double-entry accounting is incorrect?

Every transaction affects at least two accounts.

Debits always increase an account balance, while credits always decrease it.

The accounting equation (Assets = Liabilities + Equity) must always be in balance.

Double-entry bookkeeping helps in detecting errors and preventing fraud.

Accounting Principles And Contingency Pretest #2

Accounting Principles and Contingency Pretest #2

CDC 2010/11

Questions: 32 | Attempts: 110 | Last updated: Mar 14, 2024

Sample Question
Accouting Classifications: What type of account does not use the third digit?

Trust

Receipt

Deposit

Special

Test Your Knowledge About Billing And Invoice! Trivia Quiz

Test your Knowledge about Billing and Invoice! Trivia Quiz

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: 1269 | Last updated: Mar 21, 2023

Sample Question
What is the difference between a collective billing document and an individual billing document?

A collective document is for multiple deliveries, an individual document is a single invoice for a single delivery.

A collective document is for 1 delivery, an individual document is for a group of deliveries combined in a single invoice.

A collective document is a template used for a collection of vendors; an individual document is for a one-time purchase from a new vendor.

None of the above.

IAS And IFRS Questions: Accounting Quiz!

IAS and IFRS Questions: Accounting Quiz!

Questions: 27 | Attempts: 797 | Last updated: Mar 20, 2023

Sample Question
What is IAS 1?

Events After the Balance Sheet Date

Financial Instrument: Recognition and Measurement

Preparation of Financial Statements

Non – Current Assets Held for Sale and Discontinued Operations

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

Accounting Loves You!

Accounting loves you!

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

Sample Question
What term is used to describe factors in a decision problem that cannot be expressed effectively in numerical terms?