Basic Accounting Online Test

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


The basic accounting equation is:


Revenues are earned when the customer is billed.


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


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


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


The body responsible for promulgating U.S. Generally Accepted Accounting Principles is 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 concept that a legal business entity, such as a corporation or a partnership, is separate from its owners is called the:


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












Description:

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

Discussion

Ravi Ranjan Sahu

For Dependable Packers and Movers in Hyderabad visit
http://www.movers5th.in/packers-and-movers-hyderabad/
For Good Packers and Movers in Pune visit
http://www.movers5th.in/packers-and-movers-pune/See more

30 days 3 hours 10 minutes ago

Ravi Ranjan Sahu

For Well Grounded Packers and Movers in Mumbai visit
http://www.movers5th.in/packers-and-movers-mumbai/
For Authentic Packers and Movers in Delhi visit
http://www.movers5th.in/packers-and-movers-delhi/See more

30 days 3 hours 11 minutes ago

Ravi Ranjan Sahu

For Dependable Packers and Movers in Noida visit
http://www.movers5th.in/packers-and-movers-noida/
For Trustworthy Packers and Movers in Chennai visit
http://www.movers5th.in/packers-and-movers-chennai/See more

30 days 3 hours 12 minutes ago

Saba Tariq

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

329 days 4 hours 38 minutes ago

Abhinav Sood

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

418 days 21 hours 37 minutes ago

Jackle Wackle

it is very useful cause it makes you intelligent

688 days 23 hours 49 minutes ago

Sibtain Abbas

best for entry level

768 days 6 hours 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

854 days 5 hours 8 minutes ago

shibu

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

1953 days 9 hours 21 minutes ago

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

Your Facebook Friends on WizIQ

More Tests By Author

Basic Concepts in Corporate Finance
10 Questions | 2662 Attempts