Accounting Quiz-04 (Mixed)

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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

Accounting is a/an

3 / 25

Who prepares the debit note?

 

 

4 / 25

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

 

 

 

5 / 25

"Director fee" is a

 

 

6 / 25

What is the meaning of "Dual Entity Concept "?

7 / 25

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

 

 

8 / 25

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

 

9 / 25

“Credit” indicates

10 / 25

Which of the following is a foundation of accounting?

11 / 25

Who prepares the Bank Reconciliation Statement?

12 / 25

"Expanded Accounting Equation" is

13 / 25

Which of the following is not an example of liability?

14 / 25

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

15 / 25

Cost of Goods Sold =?

16 / 25

Which of the following is an example of nominal accounts?

17 / 25

What is the matching principle?

18 / 25

Full form of “IASC”

19 / 25

“Advance Income” is a

 

 

20 / 25

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

21 / 25

In which year did modern accounting begin?

 

 

22 / 25

What is the purpose of depreciation?

 

 

23 / 25

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

 

24 / 25

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

25 / 25

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

Your score is

The average score is 48%

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Accounting Quiz (Mixed)010203050607

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