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?

Let’s Start

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

"Owner's Equity" will increase if

 

2 / 25

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

 

3 / 25

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

4 / 25

"Depreciation" charged on

5 / 25

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

 

 

6 / 25

"Transaction" is a

7 / 25

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

8 / 25

Which of the following is an example of current liabilities?

9 / 25

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

 

10 / 25

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

11 / 25

Which one is a direct expense?

12 / 25

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

 

13 / 25

What is the first step of the accounting cycle?

 

 

14 / 25

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

 

15 / 25

Which accounts will be closed after the fiscal year ends?

16 / 25

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

 

17 / 25

"Debit Note" is prepared for

18 / 25

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

 

19 / 25

"Accounting" is a

20 / 25

Net Sales - Gross Profit =?

 

21 / 25

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

22 / 25

The daily book of accounts is

23 / 25

"Bad Debt Reserve" is a

24 / 25

What is the unit of measurement for transactions?

 

 

 

25 / 25

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

 

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