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.

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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

Which of the following is an example of nominal accounts?

2 / 25

Who prepares the Bank Reconciliation Statement?

3 / 25

"Expanded Accounting Equation" is

4 / 25

In which year did modern accounting begin?

 

 

5 / 25

Accounting is a/an

6 / 25

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

7 / 25

Who prepares the debit note?

 

 

8 / 25

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

 

 

 

9 / 25

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

 

 

 

10 / 25

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

 

11 / 25

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

 

 

12 / 25

Cost of Goods Sold =?

13 / 25

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

14 / 25

Which of the following is a foundation of accounting?

15 / 25

“Advance Income” is a

 

 

16 / 25

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

17 / 25

“Credit” indicates

18 / 25

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

 

 

19 / 25

What is the purpose of depreciation?

20 / 25

Which of the following is not an example of liability?

21 / 25

What is the matching principle?

 

 

22 / 25

What is the meaning of "Dual Entity Concept "?

23 / 25

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

 

 

 

24 / 25

"Director fee" is a

25 / 25

Full form of “IASC”

Your score is

The average score is 48%

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Accounting Quiz (Mixed)010203050607

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