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

Net Sales - Gross Profit =?

 

2 / 25

"Accounting" is a

3 / 25

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

 

4 / 25

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

5 / 25

Which one is a direct expense?

6 / 25

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

7 / 25

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

8 / 25

What is the first step of the accounting cycle?

 

 

9 / 25

"Transaction" is a

10 / 25

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

11 / 25

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

 

12 / 25

Which accounts will be closed after the fiscal year ends?

 

 

13 / 25

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

 

14 / 25

"Depreciation" charged on

15 / 25

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

 

16 / 25

Which of the following is an example of current liabilities?

17 / 25

"Owner's Equity" will increase if

 

18 / 25

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

 

 

19 / 25

"Bad Debt Reserve" is a

20 / 25

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

 

21 / 25

"Debit Note" is prepared for

22 / 25

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

 

23 / 25

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

 

24 / 25

What is the unit of measurement for transactions?

 

25 / 25

The daily book of accounts is

Your score is

The average score is 48%

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Accounting Quiz (Mixed)010203040607

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