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

"Owner's Equity" will increase if

 

2 / 25

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

3 / 25

Which accounts will be closed after the fiscal year ends?

4 / 25

"Debit Note" is prepared for

5 / 25

The daily book of accounts is

6 / 25

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

 

 

 

7 / 25

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

 

8 / 25

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

 

9 / 25

"Accounting" is a

10 / 25

"Transaction" is a

11 / 25

Net Sales - Gross Profit =?

 

12 / 25

"Depreciation" charged on

13 / 25

Which one is a direct expense?

14 / 25

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

 

 

15 / 25

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

16 / 25

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

 

17 / 25

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

18 / 25

Which of the following is an example of current liabilities?

19 / 25

What is the unit of measurement for transactions?

 

20 / 25

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

 

21 / 25

What is the first step of the accounting cycle?

 

 

22 / 25

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

23 / 25

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

 

24 / 25

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

 

25 / 25

"Bad Debt Reserve" is a

Your score is

The average score is 48%

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