Basic Accounting Quiz with Answers
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ScribdTranslationsBasic Accounting Quiz with Answers
Uploaded by
ScribdTranslationsBasic accounting quiz
1- The balance sheet is used to:
a) calculate the projected bank balance
b) calculate the profitability of activities over a period
c) analyze the financial health of the company
2- The balance consists of:
a) of charges - products
b) of an asset-liability
c) of expenses-revenues
3- The balance sheet concerns:
the activities over a period
b) the status of financing at a given moment
c) only investments
4- The balance sheet's assets include notably:
a) fixed assets
b) the loans
c) equity
5- In fixed assets, we find:
receivables
b) rented land
c) the material in ownership
6- Fixed assets are valued on the balance sheet at:
their original value
b) their residual value
c) depreciation
7- Current assets include:
a) the stocks
b) the shares
c) fixed assets
8- The bank account appears if it is overdrawn:
a) on the asset side
b) in the passive voice
c) to fixed assets
9- The income statement consists of:
a) of expenses - revenues
b) of an asset-liability
c) of expenses-revenues
10- The accounts of the chart of accounts belong to the following classes:
a) 1,2,3,4,5 in the balance sheet and 6,7,8,9,10 in the income statement
b) 1 in the balance sheet and 2 in the income statement
c) 1,2,3,4,5 on the balance sheet and 6,7 on the income statement
11- The opening balance is recorded in the journal:
bank
b) various operations
c) purchases
12- We debit asset accounts (for example, the bank or equipment) when:
they increase
they decrease
there is no movement of money
13- We credit liability accounts (e.g. loans or debts/suppliers) when:
they increase
they decrease
c) there is no movement of money
14- An insurance invoice of €400 paid by check is recorded:
a) 400€ debit from the insurance account, 400€ credit to the bank
b) 400€ debited from the insurance account, 400€ debited from the bank
c) 400€ credited to the insurance account, 400€ debited from the bank
15- A cash purchase of €100 for fertilizer with €5.5 VAT/purchase is recorded:
100€
100€
100€
16- A purchase of equipment for €10,000 excluding VAT + €1,960 VAT paid by check is recorded:
10,000€
€10,000
c) matériel (D) = 10 000€, TVA (D) =1 960€, Banque (C) = 11 960€
17- A sale of harvest (€10,000 excluding tax) and €550 VAT/sales is transferred to the bank:
10,550€
10,000€
10,000€
18- A purchase of supplies is recorded even though it is not settled:
a) Purchases = debit and credit
b) Purchases = credit and debit
c) Purchases = debit and Suppliers
19- If a transaction appears as a debit on a bank statement, the bank account is:
debited
credited
neither one nor the other
20- A transfer is recorded from the company's bank account to the family account:
a) to the debit of wages and to the credit of the bank
b) to the credit of the operator's account and to the debit of the bank
c) debiting the operator's account and crediting the bank
Solutions to the multiple-choice questionnaire
1- = c
2-=b
3-=b
4- = a
5-=c
6-=b
7- = a
8- = a
9- = a
10- = c
11- = b
12- = a
13- = a
14- = a
100€
16- = c
17- = b
18- = c
19- = b
20- = c