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

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

 

2 / 25

"Accounting" is a

3 / 25

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

4 / 25

Net Sales - Gross Profit =?

 

5 / 25

Which accounts will be closed after the fiscal year ends?

6 / 25

"Bad Debt Reserve" is a

7 / 25

"Depreciation" charged on

8 / 25

What is the unit of measurement for transactions?

 

9 / 25

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

 

10 / 25

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

 

11 / 25

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

12 / 25

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

 

13 / 25

"Owner's Equity" will increase if

 

14 / 25

The daily book of accounts is

15 / 25

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

 

16 / 25

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

17 / 25

What is the first step of the accounting cycle?

 

 

18 / 25

Which one is a direct expense?

19 / 25

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

20 / 25

"Transaction" is a

21 / 25

Which of the following is an example of current liabilities?

22 / 25

"Debit Note" is prepared for

23 / 25

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

 

24 / 25

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

 

 

 

 

25 / 25

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

 

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The average score is 48%

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Accounting Quiz (Mixed)010203040607

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