Accounting Multiple Choice Questions Free Practice Quiz

Almost 700 unique accounting questions with PDF available inside with questions, answers, and explanations. Learn accounting and finance concepts fast and fun using contents from lessons covered in the Accounting Flashcards App. So, how did you score on the accounting principles practice test above? More importantly, did you really know the answers, or did you have to guess at some of the questions? Ideally, you should be able to answer those accounting questions with ease.

An assessment can consist of up to 5 tests and 20 custom questions. You can have candidates respond to your custom questions in several ways, such as with a personalized video. With TestGorilla’s accounting skills assessment, you will receive results that are fair, objective, and quantifiable (numerical). So It doesn’t make any difference for the hiring manager if they have 50 or 350 applications for the role, since they can distribute the test with a single click. Just pick a name, select the tests you need, then add your own custom questions. This test follows the generally accepted accounting principles (GAAP), as all concepts, terminology, and test questions align with GAAP.

Accounting Basics FAQ

Our short, customizable assessments and easy-to-use interface can be accessed from any device, with no login required. We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions, press or click on the blank space provided. Additionally, if this information is helpful, you might consider signing up for my monthly subscription. My monthly subscription has more training videos like the ones below, a message board where you can ask me your specific questions, and discounts on one-on-one tutoring with me.

• Just like your homework problems, it’s important to understand the “why” behind the answer, even if you answer the question correctly.
• This test follows the generally accepted accounting principles (GAAP), as all concepts, terminology, and test questions align with GAAP.
• Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping.
• Just pick a name, select the tests you need, then add your own custom questions.

They are also critical in helping senior management make business decisions that have cost implications. Learn how each candidate performs on the what is the difference between negative assurance and positive assurance job using our library of 348 scientifically validated tests. Creating assessments for different positions is easy due to pre-existing templates.

Why an accounting skills assessment is important

If you can’t, you may want to get some more accounting practice. A pre-employment test will help you verify applicants’ skills and find the best candidates to interview. Using an accounting skills assessment will give you bias-free, objective, and quantifiable results. Add TestGorilla’s accounting skills test to your hiring process to hire the best possible accountant and avoid expensive mis-hires.

The interface is intuitive and it’s easy to visualize results per assessment. Premium members get access to this practice exam along with our entire library of lessons taught by subject matter experts.

Accounting Trivia Quizzes and Games

I’m available for one-on-one tutoring here , have a bunch of video training here (scroll to the bottom to see all the lesson topics), or check out some of my free videos on YouTube here. When students start working with me, we focus on solving accounting practice questions. These questions change how you think about accounting and change your approach to answering the questions you’ll see on your accounting tests and quizzes. You’ll become more efficient at answering these questions correctly, so you’ll feel calm, and confident while taking your test.

On top of that, a good accountant will keep up with all the bookkeeping tasks, such as paying bills, taking care of payments, and filling in tax forms, to keep everything in good order. Candidates who perform well on this test can competently complete core accounting tasks such as double-entry bookkeeping, booking of inventory, depreciation, accruals, and prepayments. They can also manage accounts payable and accounts receivable, perform analysis of records, and prepare financial statements.

Accounting Quizzes

It helps you identify candidates with strong skills who can take over or set up your company’s accounting practices. With the accounting skills assessment, you can recruit an accountant who can take over your accounting practices and help to ensure that your business runs as smoothly as possible. When taking accounting practice tests or quizzes initially focus on answering the questions to the best of your ability.

• You’ll become more efficient at answering these questions correctly, so you’ll feel calm, and confident while taking your test.
• He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.
• They can also manage accounts payable and accounts receivable, perform analysis of records, and prepare financial statements.
• Our short, customizable assessments and easy-to-use interface can be accessed from any device, with no login required.

Our feedback mechanisms and unique algorithms allow our subject-matter experts to constantly improve their tests. Accountants, bookkeepers, and other roles requiring strong accounting expertise. Random bookkeeping quizzes for you to test your knowledge. Please note that the solution sheet on the next page only shows the solutions and not whether you got each of the questions right or wrong. After you sign up, we’ll reach out to guide you through the first steps of setting up your TestGorilla account.

If you have any further questions, you can contact our support team via email, chat or call. We also offer detailed guides in our extensive Help & Inspiration Center. You can add your own logo and company color theme to your assessments. This is a great way to leave a positive and lasting brand impression on your candidates. Easily switch from a comprehensive overview to a detailed analysis of your candidates. Then, go beyond the data by watching personalized candidate videos.

If you have difficulty answering the following questions, learn more about this topic by reading our Debits and Credits (Explanation) and Additional Explanation. Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.

Accounting Topics

This accounting skills test will help you verify a candidate with strong accounting and bookkeeping skills. Hiring a good accountant means verifying the skills on a candidate’s CV and ensuring that they have all the skills that are needed for succeeding in the job. By giving job applicants a pre-employment test, you can give every candidate an opportunity to showcase their skills, while ensuring that the process remains bias-free. Good accounting practices enable your company’s management to make better decisions based on accurate financial statements and projections. It also affords your organization peace of mind knowing that all your bills, payments, and tax filings are taken care of and in good order. Why not try one of our accounting quizzes and test your knowledge of bookkeeping and accounting.

Our unique personality and culture tests allow you to get to know your applicants as real people – not just pieces of paper. Double Entry Bookkeeping is here to provide you with free online information to help you learn and understand bookkeeping and introductory accounting. Test your knowledge of bookkeeping and accounting with our online accounting basics quiz. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. We recommend using our assessment software as a pre-screening tool at the beginning of your recruitment process.

If you wish to take an accounting quiz please do so by first choosing a quiz from the Popular Quiz list below. Note that there is no time limit to answer the questions, and you can have as many goes at answering each question as you like. A video question is a specific type of custom question you can add to your assessment.