Multiple Choice Accounting Questions4/30/2021
For this reason Ive created this page listing quizzes and practice questions on fundamental accounting topics.One thing I would recommend is to practice these accounting questions according to a set time frame.This can really help you get used to exam settings and ensure youre not taking too long to complete each question.
If youre looking for more advanced exercises, head over to our full accounting questions and answers page. This short test (9 questions) covers the first theory section of this site, Basic Accounting Concepts. Accounting Equation Questions and Answers As we all know, the basic accounting equation is the foundation of accounting, so you better know this well. More Accounting Equation Exercises Here are some more questions on the accounting equation and owners equity to make sure you know their components really well. Note that this is a beginner exercise for the most part, but it also covers a trading business with the purchase and sale of goods. The first part of the solution contains just the accounts affected, while the second part shows the full journal entries. Basic Accounting Quiz: Asset and Liability Balance Sheet Categories This is a quick test of your ability to classify different items correctly on a balance sheet, not just the general categories of assets and liabilities, but also whether they should be non-current or current. Basic Accounting Quiz: Capital Expenditure vs Revenue in Nature In this quiz you need to name whether certain items are capital expenditure or revenue in nature. ![]() Fixed Assets Question: Sale and Purchase This is a nice little question on the sale and purchase of fixed (or non-current) assets. Income Statement Multiple-Choice Quiz Test yourself on the income statement with this 15-minute timed multiple-choice test. Questions on Journal Entries Here are some questions from visitors around the world asking what the journal entry is for specific transactions (answers included of course). Please understand that I (Michael Celender) run this site on my own, and because there are hundreds of questions that have been submitted, I have not been able to answer every single one. Because of this I have also stopped accepting new submissions. If youre looking for a question on a specific accounting topic and didnt find it above, use this site search bar. Itll help you find the question youre looking for, or at least something close. Multiple Choice Accounting Questions Full Accounting QuestionsFull Accounting Questions and Exercises If you want to practice more questions, then you should get the Accounting Basics: Workbook. During the month, he completed the following transactions for. A: For those who arent familiar with this term, VAT is short.
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