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

What is the first step of the accounting cycle?

 

 

2 / 25

"Depreciation" charged on

3 / 25

"Owner's Equity" will increase if

 

4 / 25

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

 

5 / 25

The daily book of accounts is

6 / 25

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

 

7 / 25

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

 

8 / 25

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

 

 

9 / 25

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

10 / 25

"Accounting" is a

11 / 25

Which of the following is an example of current liabilities?

12 / 25

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

13 / 25

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

 

14 / 25

"Bad Debt Reserve" is a

15 / 25

Which accounts will be closed after the fiscal year ends?

16 / 25

"Debit Note" is prepared for

17 / 25

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

18 / 25

Net Sales - Gross Profit =?

 

19 / 25

Which one is a direct expense?

20 / 25

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

 

21 / 25

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

 

22 / 25

"Transaction" is a

 

 

23 / 25

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

 

24 / 25

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

25 / 25

What is the unit of measurement for transactions?

 

Your score is

The average score is 48%

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