Financial Accounting Basics Online Test

Financial Accounting is based upon Historic data.


Financial Accounting is mainly adapted for internal usage.


Which of the following will increase the cash flow of a company?


An increase in the value of Land will also lead to an increase in its depreciation.


If goods purchased for $50 are mistakenly recorded on the credit side of goods purchased then what will be the correct entry in the Inventory's account?


Can Staff training cost be capitalised when there is a condition imposed on Staff that they cannot leave the job without Management's permission?


What is Working Capital?


IFRS includes:


An item should be recognised as an Asset if there are probable chances of its aquisition?


Creditor A

A company bought 250 @ $1 each goods from A and recorded it correctly but the goods worth $5 were found to be faulty.What would be its impact on the T account of Creditor A?

DR

CR

$250
















Description:

This test demonstrates how much the user has gained the knowledge of Financial Accounting which is the major form of accounting.This is a time based test and there are 2 marks and 2 minutes for each question.Its only a test and does not lays down that the pass candidates are having sufficient knowledge and vice versa.

Discussion

Srinu Mudiraj

it's good for new learners

1776 days 22 hours 50 minutes ago

Brijesh Kumar

its very nice this method because something learning knowledge.

2170 days 1 hours 35 minutes ago

Connie

yes ty

2573 days 10 hours 29 minutes ago

Sundar

Good Test

2604 days 21 hours 18 minutes ago

Kazi Haris Hussain
Chartered Certified Accountant
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