Basic Accounting Online Test

Which of the following revenue recognition methods is generally used in business?


The concept that a legal business entity, such as a corporation or a partnership, is separate from its owners is called the:


What do we call the process of transferring the balances of nominal accounts to the retained earning account, thereby starting those nominal accounts fresh for the next period?


The body responsible for promulgating U.S. Generally Accepted Accounting Principles is the:


I want to make a journal entry to increase accounts payable, so I credit that account.


Cash had a balance of $100 and it has a balance of $200 after I made this journal entry. I must have:


The principle which requires that expenses be accrued or deferred is the:


Revenues are earned when the customer is billed.


The basic accounting equation is:


There is only one type of accounting, and it is used for all of a businees's reporting needs.












Description:

A test to determine if you could pass a basic bookkeeping or accounting class.

Discussion

Saba Tariq

please guide me how I'll solve this quiz. they are not appearing

1 days 17 hours 40 minutes ago

Abhinav Sood

Very nice it makes us to know us about commerce
Thanks
Abhinav Sood

91 days 10 hours 39 minutes ago

Jackle Wackle

it is very useful cause it makes you intelligent

361 days 12 hours 50 minutes ago

Sibtain Abbas

best for entry level

440 days 19 hours 2 minutes ago

Rasheed

I haven't seen this type of quiz, however i had more knowledge while doing this quiz, it is very important to anyone, and it create more experiance to alll

526 days 18 hours 9 minutes ago

shibu

its very useful for me.. give me some other model question

1625 days 22 hours 23 minutes ago

shravan

SUPER

1831 days 11 hours 51 minutes ago

monika rani

I want more question related to basic accounting and finance..

1836 days 16 hours 3 minutes ago

monika rani

please can u give me more question realted to finance..This was beneficial for me....

1836 days 16 hours 13 minutes ago

Barry Sims
Experienced Accounting and Finance Tutor with CPA
User
11 Followers
Tests: 2

Your Facebook Friends on WizIQ

More Tests By Author

Basic Concepts in Corporate Finance
10 Questions | 2134 Attempts