Accounting Quiz or Test on Knowledge On Bookkeeping and Accounting

Tweet This Content Page helps you to navigate to all articles relating to the Accounting Quiz or Short refresher questions on bookkeeping and accounting. The objective here is to test your basic knowledge on accounting to ensure that some important items are not being missed out by the readers.. From each topic, you can return […]

Accounting Quiz or Test Your Accounting Knowledge On Incomplete Records

Tweet Refresh or test your accounting knowledge on Incomplete Records: QUESTIONS:1.0    In the absence of a sales account or sales day book, how can a figure of sales for the year be computed 2.0    In the absence of a purchase account or purchases day book, how can a figure of purchases for the year be […]

Accounting Quiz or Test Your Accounting Knowledge On Income And Expenditure Accounts

Tweet Refresh or test your accounting knowledge on Income And Expenditure Accounts : QUESTIONS: 1.0    List three differences between the accounts of a non-trading organization and those of a business 2.0    List five sources of income for a non-trading organization 3.0    What is a receipts and payments account? 4.0    Describe two ways of accounting for income […]

Accounting Quiz or Test Your Accounting Knowledge On Partnership Accounts

Tweet Refresh or test your accounting knowledge on Partnership Accounts : QUESTIONS:1.0  What is “ joint an several liability? 2.0  Describe two ways in which the accounts of a partnership differ from those of a sole trader 3.0  What are the differences between a partner’s current account ad his capital account? 4.0  Interest paid on loans […]

Accounting Quiz or Test Your Accounting Knowledge On Limited Companies

Tweet Refresh or test your accounting knowledge on Limited Companies: QUESTIONS:1.0    What is the meaning of “limited liability”? 2.0    List four of the statutory books which companies must maintain? 3.0    What is the difference between issued capital and called-up capital? 4.0    What are the differences between ordinary shares and preference shares? 5.0    What are the […]

Accounting Quiz or Test Your Accounting Knowledge On The Operating Cycle and Working Capital Ratios

Tweet Refresh or test your accounting knowledge on The Operating Cycle and Working Capital Ratios : QUESTIONS: 1.0    What is the “ cash cycle” 2.0    What is:- (a)    a finished goods stock turnover period? (b)   a debtors turnover period How are they calculated? 3.0    A lengthening of the cash cycle will result in a smaller […]

Accounting Quiz or Test Your Accounting Knowledge On Financial Statement Analysis

Tweet Refresh or test your accounting knowledge on Financial Statement Analysis: QUESTIONS: 1.0  Identify the users of financial statement 2.0  Indicate the purpose of financial statement analysis 3.0  Identify the types of financial statement analysis procedures 4.0  Assess the liquidity, profitability, efficiency and solvency of a business by applying the financial statement analysis 5.0  Explain […]

Accounting Quiz or Test Your Accounting Knowledge On Accounting for Merchandizing Businesses

Tweet Refresh or test your accounting knowledge on Accounting for Merchandizing Businesses: QUESTIONS:1.0  Distinguish the activities of a service business from a merchandizing business 2.0  Describe the accounting cycle for a merchandizing business 3.0  Explain how to journalize the entries for merchandize transaction using the perpetua inventory system and the periodic inventory system including purchases, […]

Financial Accounting Quiz on Inventories or Stock

Tweet Refresh or test your accounting knowledge on Inventories or stocks: Multiple Choice Questions ( with answers(below)) 1. The lower of cost or market method for valuing inventories a. Recognizes reductions in the values of inventories held by a corporation in the period in which the decline in value occurs b. Recognizes increases in the […]

Financial Accounting Quiz on Basic accounting

Tweet Refresh or test your accounting knowledge on Basic accounting: Multiple Choice Questions (with answer(below)) 1. Which of the following is a form of the balance sheet equation? a. Assets=Liabilities+(Paid in Capital + Retained Income) b. Assets+ Liabilities= Owners’ Equity c. Assets + Owner’s Equity =Liabilities d. Assets-Paid in capital = Liabilities-Retained income 2. _________ are […]