This is a quiz for your Accounting expertise. Take online accounting quiz questions and answers to test your knowledge on “Basics of Accounting for Beginners module”. Accounting knowledge is very important in today’s world to track your progress and lack accounting knowledge is mostly not acceptable at personal and organization level. Let us check how much do you understand about accounting concepts and principles.
Let us check how much do you understand about what is Accounting along with different types of accounts. Quiz will examine your learning on accounting objectives, branches along with its process. Hope you have reviewed what are assets, liabilities, revenue, current assets, current liabilities and expenses in accounting. Expecting that you know how to maintain single entry system as well as double entry system. It is really important that you know about trial balance, general ledger, balance sheet, profit and loss statement in accounting terms. Take a quiz at the end of “Accounting for Beginners tutorial course” and test your knowledge on accounting related matters and scenarios.
Accounting Quiz – Accounting for Beginners
1: Revenue.
2: Liabilities.
3: Expenses.
4: Recievables.
5: All of the Above.
Liabilities.
1: Generally Accepted Accounting Principles.
2: General Asset Accounting Principles.
3: Generally Accepeted Account Principles.
4: General Access of Accounting Principles.
Generally Accepted Accounting Principles.
1: Credit and Debit.
2: Debit.
3: Credit.
Credit.
1: Profit and Loss Statement.
2: Trial Balance Statement.
3: Balance Sheet.
4: Income Statement.
Balance Sheet.
1: Balance Sheet.
2: Profit and Loss Statement.
3: Trial Balance.
4: All of the above.
Profit and Loss Statement.
1: Prepaid Expenses.
2: Accrued Expenses.
3: Accounts Payable.
4: Note Payable.
Prepaid Expenses.
1: Financial Accounting.
2: Management Accounting.
3: Cost Accounting.
4: All of the Above.
5: None of the Above.
All of the Above.
1: Real Account.
2: Personal Account.
3: Corporate Account.
4: Nominal Account.
5: None of the Above.
Corporate Account.
1: One.
2: Two.
3: Three.
4: Four.
Two.
1: Tally debit and credit balances of ledger accounts.
2: To calcuate net income.
3: To evaluate owner’s equity.
4: To check liabilities of the business.
Tally debit and credit balances of ledger accounts.
1: Earnings statement.
2: Income statement.
3: Statement of revenue and loss.
4: All of the above.
5: None of the Above.
All of the above.
1: Posting to Journal Entries.
2: Preparing Ledger Accounts.
3: Prepare Trial Balance.
4: Prepare Balance Sheet.
5: All of the above.
All of the above.
1: Tallied Account.
2: In-Balance.
3: Equal balanced.
4: Correct Account.
In-Balance.
1: Chart of Accounts.
2: List of Accounts.
3: Total Accounts.
4: Companies Accounts.
Chart of Accounts.
1: Credit.
2: Debit.
3: Credit and Debit.
Debit.
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Basics of Accounting for Beginners
- Chapter 1: What is Accounting with Examples
- Chapter 2: Objectives of Accounting
- Chapter 3: Types of Accounts
- Chapter 4: Branches of Accounting
- Chapter 5: Accounting Process
- Chapter 6: What is Assets and Current Assets?
- Chapter 7: What is Liability and Current Liabilities?
- Chapter 8: What is Revenue and Expenses?
- Chapter 9: What is a Single Entry System?
- Chapter 10: What is Double Entry System?
- Chapter 11: What are Journal Entries? Format and Examples
- Chapter 12: What Is a General Ledger? Format with Example
- Chapter 13: What is a Trial Balance? Examples and Limitations
- Chapter 14: What is a Profit and Loss Statement or Income Statement?
- Chapter 15: What is a Balance Sheet? Definition, Format and Examples
- Chapter 16: What is Managerial Accounting? Role, Job and Objectives
- Take a Quiz: Accounting Quiz – Basics of Accounting for Beginners Module
