Accounting Quizzes, Questions & Answers

Recent Quizzes

Classification Of Accounts - Calculators R Fun

Classification of Accounts - Calculators R Fun

Chapter 1 Directions: Classify each account by selecting the correct answer for each item.

Questions: 20 | Attempts: 521 | Last updated: Mar 20, 2023

Sample Question
Jones Payable

Asset

Liability

Owner's Equity

Answer option 4

Do you know how to answer accounts questions? Would you be able to pass this quiz? According to this quiz, you must be aware of where bills payable is shown, what is considered an asset, what is a liability, what is the meaning...

Questions: 50 | Attempts: 7316 | Last updated: Mar 21, 2023

Sample Question
Bills Payable A/c is shown in the balance sheet under the head.

Provision

Reserves & Surplus

Secured loans

Current liabilities

Acct 425 Unit 3

ACCT 425 Unit 3

Questions: 32 | Attempts: 100 | Last updated: Feb 15, 2024

Sample Question
When the hybrid method is used to record the withdrawal of a partner, the partnership

Revalues assets and liabilities and records goodwill to the continuing partner but not to the withdrawing partner.

Revalues liabilities but not assets, and no goodwill is recorded.

Can recognize goodwill but does not revalue assets and liabilities.

Revalues assets but not liabilities, and records goodwill to the continuing partner but not to the withdrawing partner.

Revalues assets and liabilities but does not record goodwill.

Basic Accounting 1 Assignment 1

Before attempting this assignment you should have read chapters 1 to 3 of your Osborne Book ”BASIC ACCOUNTING 1 " and attempted the chapter activities in your WORKBOOK. The pass mark for the assignment...

Questions: 18 | Attempts: 2232 | Last updated: Mar 22, 2023

Sample Question
A cash sale is a sale where payment is made in notes and coins

True

False

Accounting Chapter 7 Definitions Quiz

Definitions part 2

Questions: 8 | Attempts: 79 | Last updated: Mar 22, 2023

Basic Accounting Quiz Questions And Answers

Basic Accounting Quiz Questions and Answers

Here's an awesome 'Basic Accounting Quiz' for all the students studying accounts! Accounting is something that is existent in different companies and is essential to ensure that a business keeps on growing. The...

Questions: 10 | Attempts: 50260 | Last updated: Mar 24, 2022

Sample Question
Profit is equal to:

Income minus expenses

Receipts minus expenditures

Inflows minus outflows

Revenue minus expenses

Method Of Accounting Chapter 3

method of accounting chapter 3

Questions: 15 | Attempts: 370 | Last updated: Mar 21, 2023

Sample Question
On November 1, Rosebriar Apartments received $3,600 from a tenant for four months rent. The receipt was credited to Unearned Rent Revenue. What adjusting entry is needed on Dec 31?

Debit unearned rent revenue 1800, credit rent revenue 1800

Debit cash 900, credit rent revenue 900

Debit unearned rent revenue 900, credit rent revenue 900

Debit rent revenue 900, credit unearned rent revenue 900

Basic Accounting Exam: Quiz! MCQ

Questions: 10 | Attempts: 1859 | Last updated: Mar 21, 2023

Sample Question
A debit entry to an account.

Increases liabilities

Increases OE

Increases Assets

Increases both a and b

Accounting 202 - Chapter 7 Mixed

Accounting 202 - Chapter 7 mixed

The changes in cost and volume of the output have an effect on the company’s operating and net income. We have already covered what there is on calculation and effect of these changes to the organization. The quiz below...

Questions: 30 | Attempts: 346 | Last updated: Mar 21, 2023

Sample Question
The unit contribution margin is computed by:

Dividing the variable cost per unit by the sales revenue.

Subtracting the sales price per unit from the variable cost per unit

Subtracting the variable cost per unit from the sales price per unit

Dividing the sales revenue by variable cost per unit

Accounting 202 - Chapter 7

The changes in cost and volume of the output have an effect on the company’s operating and net income. The study of this change is what we covered in the previous class on chapter seven. The quiz below is designed to...

Questions: 30 | Attempts: 378 | Last updated: Mar 22, 2023

Sample Question
The unit contribution margin is computed by:

Dividing the variable cost per unit by the sales revenue.

Subtracting the sales price per unit from the variable cost per unit

Subtracting the variable cost per unit from the sales price per unit

Dividing the sales revenue by variable cost per unit

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