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

 

 

2 / 25

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

3 / 25

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

4 / 25

Which of the following is an example of nominal accounts?

5 / 25

Cost of Goods Sold =?

 

 

6 / 25

What is the purpose of depreciation?

7 / 25

In which year did modern accounting begin?

8 / 25

“Credit” indicates

9 / 25

"Expanded Accounting Equation" is

 

 

10 / 25

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

 

11 / 25

Which of the following is a foundation of accounting?

 

 

12 / 25

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

13 / 25

Which of the following is not an example of liability?

 

 

14 / 25

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

 

15 / 25

“Advance Income” is a

16 / 25

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

 

 

17 / 25

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

 

18 / 25

What is the matching principle?

 

 

19 / 25

"Director fee" is a

 

 

20 / 25

What is the meaning of "Dual Entity Concept "?

21 / 25

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

 

 

 

22 / 25

Accounting is a/an

23 / 25

Full form of “IASC”

24 / 25

Who prepares the Bank Reconciliation Statement?

25 / 25

Who prepares the debit note?

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