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

"Debit Note" is prepared for

2 / 25

"Owner's Equity" will increase if

 

3 / 25

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

4 / 25

"Depreciation" charged on

5 / 25

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

6 / 25

What is the unit of measurement for transactions?

 

 

 

7 / 25

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

 

8 / 25

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

9 / 25

What is the first step of the accounting cycle?

 

 

10 / 25

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

11 / 25

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

 

 

12 / 25

The daily book of accounts is

13 / 25

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

 

14 / 25

Which of the following is an example of current liabilities?

15 / 25

Which one is a direct expense?

16 / 25

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

 

17 / 25

Net Sales - Gross Profit =?

 

18 / 25

"Transaction" is a

19 / 25

"Accounting" is a

20 / 25

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

 

21 / 25

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

 

22 / 25

"Bad Debt Reserve" is a

23 / 25

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

 

24 / 25

Which accounts will be closed after the fiscal year ends?

25 / 25

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

 

Your score is

The average score is 48%

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Accounting Quiz (Mixed)010203040607

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