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Accounting Test Nº1

Total questions: 20

Worksheet time: 20mins

Name
Class
Date
1.

People who are responsible for giving administrative support to the Finance department.

a)

Tax accountants

b)

Back office staff.

c)

External auditors

d)

Financial advisors

2.

A person who is studying for professional examinations

a)

Bookkeeper

b)

Financial advisor

c)

Internal accountant

d)

Trainee accountant.

3.

A person who manages the company’s financial plans.

a)

Budget analyst

b)

Financial advisor

c)

Internal auditor

d)

Back office manager

4.

A person who helps the company make smart investments

a)

Financial advisor.

b)

Tax accountant

c)

Budget analyst

d)

Bookkeeper

5.

A person who is responsible for processing the record of a company’s financial activities

a)

Budget analyst

b)

Financial advisor

c)

Bookkeeper

d)

External auditor

6.

In a Job interview:

"How are you doing?"

a)

I'm doing fine. Thank you

b)

No traffic jam and no accidents

7.

Please, tell me a little bit about the position:

a)

It is an entry-level position.

b)

It is a dream come true.

8.

What type of qualifications do you require?

a)

I require a four-year college degree in Finance

b)

I need to fill this position as soon as possible

9.

What kind of experience are you looking for?

a)

I require office work experience

b)

I am the Finance Department Manager

10.

Tell me a little bit about yourself. What are your strengths?

a)

I am a hard-working person and a fast learner

b)

I am shy, anxious and a little bit introverted

11.

"The money you receive, that can be from different sources.” Is the definition of…

a)

Expense

b)

Income

c)

Profit

d)

Net

12.

The Income Statement reports totals of:

a)

A specific period of time

b)

An annual balance

c)

The beginning of the company

d)

When the CEO requires it

13.

“Things that are resources owned by a company and can be expressed in money”. Is the definition of…

a)

Payables

b)

Assets

c)

Borrowings

d)

Liabilities

14.

“Ownership interest in a business or a personal asset”. Is the definition of…

a)

Payable

b)

Receibable

c)

Assets

d)

Equity

15.

“The systematic reduction of a loan’s principal balance” is the definition of…

a)

Net

b)

Expense

c)

Amortization

d)

Liability

16.

Loan, interests, and personnel expenses are liabilities so they are debts of a company

a)

True

b)

False

17.

examples of Cost of good sold are Machinery and raw material

a)

True

b)

False

18.

Assets and loan are debts

a)

True

b)

False

19.

In a company, machinery is an asset

a)

True

b)

False

20.

In a company, when liabilities are bigger in numbers than assets the company may bankrupt

a)

True

b)

False