Accounting Quiz-04 (Mixed)

Playing the quiz is an effective way to improve mental competencies. And to develop this mental skill we have brought the Accounting Quiz section. If you Practice these 25 “Accounting Quiz-04 (Mixed)” on a regular basis and it will definitely enhance your mental and accounting skills.

Are You Ready to increase your accounting skills to the next level?

Now, Test your knowledge with our mixed basic accounting quizzes (Multiple Choice questions). It will definitely develop your accounting skill.

Let’s Start

Rules

Quiz TypeTotal MCQTotal Time 
MCQ2510 Minutes

 

 

 

 


Created by admin
Accounting Quiz-04 (Mixed)

Accounting Quiz-04

Ready to test your accounting knowledge? Take this quick quiz and see how you score!

 

 

 

 

1 / 25

Determine the correct adjusting entry for the following transaction: June's accrued salary is $300.

 

2 / 25

Which account increases when a company sells a product or service on credit?

3 / 25

Which of the following is a foundation of accounting?

4 / 25

In which year did modern accounting begin?

5 / 25

"Expanded Accounting Equation" is

6 / 25

Who prepares the debit note?

 

 

7 / 25

Which accounting principle is followed when creating the "Depreciation Reserve"?

 

8 / 25

Who prepares the Bank Reconciliation Statement?

9 / 25

Double-entry bookkeeping requires every transaction to be recorded in at least how many accounts?

10 / 25

Bad debts recovered by $300. Identify the “Debit A/c” for this transaction

11 / 25

The "Bank Reconciliation Statement" is prepared according to which accounting principle?

 

 

 

12 / 25

Which of the following is an example of tangible fixed assets?

 

 

13 / 25

"Director fee" is a

14 / 25

Which of the following is an example of nominal accounts?

15 / 25

“Advance Income” is a

 

 

16 / 25

Which of the following methods of depreciation allocates a higher expense in the early years of an asset's life?

 

17 / 25

Determine the depreciation rate using the straight-line method for an asset with an 8-year useful life.

 

 

18 / 25

Cost of Goods Sold =?

19 / 25

“Credit” indicates

 

 

20 / 25

Accounting is a/an

21 / 25

Which of the following is not an example of liability?

 

 

22 / 25

What is the meaning of "Dual Entity Concept "?

23 / 25

What is the matching principle?

24 / 25

Full form of “IASC”

 

 

25 / 25

What is the purpose of depreciation?

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