Accounting Quiz

Accounting Quiz

11th Grade

10 Qs

quiz-placeholder

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Accounting Quiz

Accounting Quiz

Assessment

Quiz

Others

11th Grade

Hard

Created by

rahmathulla undefined

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is considered the Father of Accounting?

Leonardo da Vinci

Isaac Newton

Albert Einstein

Luca Pacioli

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary objective of maintaining business records in accounting?

To calculate profit or loss

To ascertain financial position

To provide information to users

To remember every transaction

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'Assets' refer to in accounting?

Economic resources of the business

Total revenue earned by a business

Investment made by owners

Amounts due from others

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a voucher in accounting?

To represent unsold goods

To provide evidence of a transaction

To calculate profit or loss

To show the financial position

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'Drawings' represent in accounting?

Amount spent to earn revenue

Unsold goods at the end of the year

Assets withdrawn by the owner for personal use

Total revenue earned by a business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the distinction between current and non-current items in accounting?

Current items are primarily for trading

Current items are realised/settled within 12 months

Current items are cash or cash equivalent

Current items are involved in the operating cycle

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used for the excess of revenue over expenses in an accounting year?

Discount

Profit

Loss

Gain

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