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?


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



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Feliciano Cabido Jr

i want to learn more accounting and develop my skills as one of them since 15 years i never practice my profession. i really need help??

1611 days 19 minutes ago

Saba Tariq

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

2031 days 18 hours 12 minutes ago

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

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Jackle Wackle

it is very useful cause it makes you intelligent

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Sibtain Abbas

best for entry level

2470 days 19 hours 35 minutes ago


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

2556 days 18 hours 42 minutes ago

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

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