Accounting Quiz-05 (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-05 (Mixed)” on a regular basis and it will definitely enhance your mental and accounting skills.

Now, Test your knowledge with our mixed basic accounting quizzes (Multiple Choice questions). It will definitely develop your accounting skill.

Are You Ready to increase your accounting skills to the next level?

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Rules

Quiz TypeTotal MCQTotal Time 
MCQ2510 Minutes
Created by admin
Accounting Quiz-07 (Mixed)

Accounting Quiz-05

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

 

1 / 25

The financial ratio that measures a company's ability to pay its current liabilities is called the:

 

2 / 25

What is the first step of the accounting cycle?

 

 

3 / 25

What is the unit of measurement for transactions?

 

4 / 25

The cost of goods sold (COGS) appears on which financial statement?

 

5 / 25

What happens if an asset's useful life is extended from ten to twelve years?

6 / 25

Utilities are not assets and should be recorded as expenditures. According to which principle

 

 

 

7 / 25

A company distributes a portion of its profits to shareholders. This distribution is called a:

 

8 / 25

"Accounting" is a

9 / 25

Which of the following is an example of a "non-cash transaction"?

 

10 / 25

Which of the following is an example of current liabilities?

11 / 25

“Sold used car for $1,000.” Credit will be:

12 / 25

The daily book of accounts is

13 / 25

Which one is a direct expense?

14 / 25

"Bad Debt Reserve" is a

15 / 25

Net Sales - Gross Profit =?

 

16 / 25

"Transaction" is a

17 / 25

"Debit Note" is prepared for

18 / 25

The difference between a company's total assets and total liabilities represents the:

 

19 / 25

Which of the following is an example of an intangible asset?

20 / 25

A company pays rent for a building upfront for the entire year. This prepaid rent is recorded as a:

 

21 / 25

"Depreciation" charged on

22 / 25

Which account is not maintained using a single-entry system?

23 / 25

"Owner's Equity" will increase if

 

24 / 25

Which is known as the "Roadmap of Financial Statements"?

 

 

25 / 25

Which accounts will be closed after the fiscal year ends?

Your score is

The average score is 48%

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