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

“Advance Income” is a

 

 

2 / 25

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

 

3 / 25

What is the matching principle?

 

 

4 / 25

What is the purpose of depreciation?

 

 

5 / 25

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

 

 

6 / 25

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

 

7 / 25

Which of the following is not an example of liability?

 

 

8 / 25

"Director fee" is a

9 / 25

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

10 / 25

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

11 / 25

Full form of “IASC”

 

 

12 / 25

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

 

13 / 25

"Expanded Accounting Equation" is

 

 

14 / 25

What is the meaning of "Dual Entity Concept "?

15 / 25

Which of the following is an example of nominal accounts?

16 / 25

Cost of Goods Sold =?

17 / 25

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

 

18 / 25

“Credit” indicates

19 / 25

Who prepares the debit note?

 

 

20 / 25

Accounting is a/an

21 / 25

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

 

 

22 / 25

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

23 / 25

Who prepares the Bank Reconciliation Statement?

24 / 25

Which of the following is a foundation of accounting?

25 / 25

In which year did modern accounting begin?

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Accounting Quiz (Mixed)010203050607

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