MYOB Accounting Quiz

What is the first step in creating a new company file in MYOB?

• Backing up data

• Creating account list

• Setting up assistant

• Entering company details

What should be done before adding new accounts in MYOB?

• Delete existing accounts

• Create new company file

• Edit existing accounts

• Backup data

What is the correct account type for 'Allowance' in MYOB?

• Expense account

• Income account

• Liability account

• Asset account

What is the correct account type for 'Petty cash' in MYOB?

• Income account

• Asset account

• Liability account

• Expense account

What is the correct account type for 'Income summary' in MYOB?

• Income account

• Expense account

• Liability account

• Asset account

What is the correct account type for 'PPN income' in MYOB?

• Expense account

• Income account

• Liability account

• Asset account

What is the correct account type for 'Income tax payable' in MYOB?

• Expense account

• Liability account

• Income account

• Asset account

What is the correct account type for 'Wages salaries' in MYOB?

• Asset account

• Income account

• Liability account

• Expense account

What is the correct account type for 'Cost of goods sold' in MYOB?

• Income account

• Expense account

• Asset account

• Liability account

What is the correct account type for 'Merchandise inventory' in MYOB?

• Income account

• Expense account

• Asset account

• Liability account