Accounting Quiz-06 (Mixed)

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Rules

Quiz TypeTotal MCQTotal Time 
MCQ2510 Minutes

 

 

 

 


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Accounting Quiz-06 (Mixed)

Accounting Quiz-06

Ready to test your accounting knowledge? Take this quick quiz and see how you score!

 

1 / 25

Which language is the origin of the words "Debit and Credit"?

2 / 25

Normally, which of these accounts has a credit balance?

3 / 25

When goods sold on credit are returned by the buyer, the book usually states:

4 / 25

Which of the following is not a step in the accounting process?

 

5 / 25

Which of the following transactions does not affect the owners' equity?

6 / 25

An expense that is incurred but not yet paid is recorded as an:

7 / 25

"Income Tax" is a

8 / 25

Which one of the following accounts is closed at the end of the fiscal year?

9 / 25

"Received from Finch as a loan" Determine the proper journal entry for this transaction.

10 / 25

Bad debt reserve is a

 

11 / 25

Which of the following accounts is excluded from the post-closing trial balance?

12 / 25

Which of the following events is not an example of a transaction?

13 / 25

"Balance Sheet" is a

 

14 / 25

Which of the following accounts appears on the credit side of the Trial Balance?

15 / 25

Which of the following accounts is included on the profit and loss statement?

 

16 / 25

Which of the following accounts normally has a debit balance?

17 / 25

Fixed assets are shown in the balance sheet according to

18 / 25

Which of the following is considered a deferred revenue expenditure?

19 / 25

Full-Form of “AAA”

 

20 / 25

The process of recording financial transactions chronologically in a general ledger is called:

21 / 25

Which of the following is not a qualitative characteristic of a financial statement?

22 / 25

"Unearned Revenue" is a

 

23 / 25

Purchased stationery includes 15% VAT; debit will be

24 / 25

Depreciation is the process of allocating costs for what?

 

25 / 25

“Entity Principle” means

 

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