Accounting Fundamentals – Easy 2


  • Fundamentals of Accounting - Easy 2
  • Quick Multiple Choice Quiz, Test Yourself!
  • Refresh Your Basics in Accounting.
  • Only the Top 10% are able to Score More than 7
  • Click & See if You're Among Top 10% of our Visitors.



How is Working Capital Calculated?
Current Assets - Current Liabilities
Assets - Liabilities
Current Liabilities - Current Assets
Current Assets + Current Liabilities

Correct!

Oops!



What is the Journal Entry for Goods Given in Charity?
Charity A/C Dr. | To, Cash A/C Cr.
Charity A/C Dr. | To, Purchases A/C Cr.
Purchases A/C Dr.| To, Charity A/C Cr.

Correct!

Oops!



Expand IFRS?
International Financial Reporting System
International Financial Revenue Standards
International Financial Reporting Standards

Correct!

Oops!



Copyright is a Fictitious Asset.
TRUE
FALSE

Correct!

Oops!



Which one of these is an Indirect Expense?
Power
Rent For Premises
Salary

Correct!

Oops!



A Person Who Owes an Amount to the Business for a Credit Sale is Called?
Creditor
Buyer
Seller
Debtor

Correct!

Oops!



Are Bookkeeping and Accounting Exactly the Same?
Yes
No

Correct!

Oops!



Which of these is an External user of Financial Statements?
Employees
Managers
Lenders

Correct!

Oops!



What type of expenditure is "Purchase of Furniture"?
Capital Expenditure
Revenue Expenditure
Deferred Revenue Expenditure
None of the above

Correct!

Oops!



What is the Journal Entry for Depreciation?
Asset A/C Dr. | To Depreciation A/C Cr.
Depreciation A/C Dr. | To Cash A/C Cr.
Depreciation A/C Dr. | To Bank A/C Cr.
Depreciation A/C Dr. | To Asset A/C Cr.

Correct!

Oops!

Share the quiz to show your results !

Subscribe to see your results

Ignore & go to results

Accounting Fundamentals – Easy 2

I got %%score%% of %%total%% right

%%description%%

%%description%%

Loading...

 



 

Most Viewed Articles