Accounting Quiz-05 (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-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.

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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

"Owner's Equity" will increase if

 

2 / 25

What is the unit of measurement for transactions?

 

3 / 25

"Depreciation" charged on

4 / 25

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

 

5 / 25

Net Sales - Gross Profit =?

 

6 / 25

What is the first step of the accounting cycle?

 

 

7 / 25

Which accounts will be closed after the fiscal year ends?

8 / 25

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

 

9 / 25

"Transaction" is a

10 / 25

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

 

11 / 25

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

12 / 25

Which of the following is an example of current liabilities?

13 / 25

The daily book of accounts is

14 / 25

Which one is a direct expense?

15 / 25

"Bad Debt Reserve" is a

16 / 25

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

 

 

17 / 25

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

 

18 / 25

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

 

19 / 25

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

 

 

20 / 25

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

 

21 / 25

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

22 / 25

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

23 / 25

"Accounting" is a

24 / 25

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

 

25 / 25

"Debit Note" is prepared for

Your score is

The average score is 48%

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Accounting Quiz (Mixed)010203040607

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