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

 

 

 

 


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Accounting Quiz-04 (Mixed)

Accounting Quiz-04

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

 

 

1 / 25

"Expanded Accounting Equation" is

 

 

2 / 25

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

3 / 25

Which of the following is an example of nominal accounts?

4 / 25

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

 

5 / 25

Which of the following is not an example of liability?

6 / 25

Full form of “IASC”

7 / 25

In which year did modern accounting begin?

 

 

8 / 25

What is the meaning of "Dual Entity Concept "?

9 / 25

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

 

 

10 / 25

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

11 / 25

Cost of Goods Sold =?

12 / 25

What is the matching principle?

 

 

13 / 25

"Director fee" is a

 

 

14 / 25

Accounting is a/an

15 / 25

“Advance Income” is a

16 / 25

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

 

 

17 / 25

What is the purpose of depreciation?

18 / 25

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

19 / 25

Which of the following is a foundation of accounting?

20 / 25

Who prepares the debit note?

 

 

21 / 25

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

 

 

 

22 / 25

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

 

 

 

23 / 25

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

 

24 / 25

Who prepares the Bank Reconciliation Statement?

25 / 25

“Credit” indicates

Your score is

The average score is 48%

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