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- Accounting – Quiz
- Quiz 1 – Accounting Fundamentals – Beginner
- Quiz 2 – Accounting Fundamentals – Beginner
- Quiz 3 – Accounting Fundamentals – Intermediate
- Quiz 9 – Accounts Payable – Intermediate
- Quiz 10 – Accounts Receivable – Intermediate
- Quiz 4 – Journal Entries – Beginner
- Quiz 5 – Accounting Abbreviations – Beginner
- Quiz 6 – Accounting Abbreviations – Beginner
- Quiz 7 – Accounting Terms – Beginner
- Quiz 8 – Accounting Terms – Beginner
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- Frequently Asked Questions (FAQ) by our Users
- Are accounts receivable asset or revenue?
- Are Bad Debts Liabilities?
- Are bad debts recorded in income statement?
- Are non current liabilities debt?
- Can assets have a credit balance?
- Can depreciation be charged in the year of sale?
- Can goodwill be negative?
- Can I get cash book and bank reconciliation examples?
- Can someone give examples of deferred revenue?
- Can someone share a list of fixed assets and current assets?
- Can you explain 5 principles of accounting with examples?
- Can you give me a list of all liabilities in accounting?
- Can you give me a list of debit and credit items in trial balance?
- Can you help me with a month-end close checklist?
- Can you please share a list of current assets & current liabilities?
- Can you share a Debit and Credit Format?
- Can you share a list of direct and indirect expenses?
- Can you share a petty cash book format in pdf?
- Can you show 30 transactions of journal, ledger, trial balance, and financial statements?
- Can you show treatment of provision for discount on debtors in final accounts?
- Can you show treatment of provision for doubtful debts in balance sheet?
- Capital is debit or credit?
- Difference between purchase requisition and purchase order?
- Expense is Debit or Credit?
- How are provision for doubtful debts treated in trial balance?
- How is accumulated depreciation shown in trial balance?
- How is provision for depreciation shown in trial balance?
- How is return inwards treated in trial balance?
- How is return outwards treated in trial balance?
- How to calculate days payable outstanding, formula and example?
- How to calculate days sales outstanding, any example?
- How to calculate provision for discount on debtors?
- How to calculate provision for doubtful debts?
- How to do bad debts adjustment in final accounts?
- How to do closing stock adjustment entry?
- How to do interest on capital adjustment in final accounts?
- How to know if opening balance of an account should be debit or credit
- How to show outstanding expense in trial balance?
- How to show prepaid expense inside trial balance?
- Is accumulated depreciation an asset or liability?
- Is advance received from customer treated as revenue?
- Is capital an asset or liability?
- Is cash book both a journal and ledger?
- Is debit balance positive and credit balance negative?
- Is deferred revenue a liability?
- Is depreciation an operating expense?
- Is fees earned a debit or credit?
- Is goodwill a fictitious asset?
- Is Income Debit or Credit?
- Is Income received in advance a liability or asset?
- Is Income received in advance taxable?
- Is Inventory a current asset?
- Is investment an asset?
- Is invoice a receipt?
- Is it possible for a company to show positive cash flows but still be in trouble?
- Is Loan a current asset?
- Is prepaid expense a fictitious asset?
- Is prepaid insurance a debit or credit?
- Is Prepaid Rent a Current Asset?
- Is purchase ledger control account a debit or credit?
- Is purchase order legally binding or can we cancel it?
- Is purchase return a debit or credit?
- Is rent received in advance included in taxable income?
- Is retained earnings a debit or credit?
- Is sales ledger control account a debit or credit?
- Is sales return a debit or credit?
- Liability is debited or credited?
- List of Tangible and Intangible assets
- Return inwards and Return outwards are deducted from?
- The balance of petty cash book is an asset or income?
- What all is included in equity?
- What are branches of accounting?
- What are components of financial reporting?
- What are core business operations?
- What are different types of financial statements?
- What are posting references in a journal?
- What are sales returns and allowances?
- What are service center examples?
- What are some difficult adjustments in final accounts?
- What are some examples of a cost center?
- What are some examples of chart of accounts?
- What are the examples of contingent assets?
- What is a profit and loss suspense account?
- What is another name for balance sheet?
- What is debenture suspense account?
- What is Debit and Credit in Accounting?
- What is interest received from bank journal entry?
- What is journal entry for commission received?
- What is paid electricity bill journal entry?
- What is paid salary by cheque journal entry?
- What is paid telephone bill journal entry?
- What is paid wages in cash journal entry?
- What is received cash journal entry?
- What is salary received journal entry?
- What is started business with cash journal entry?
- What is the beginning and ending balance of an account?
- What is the difference between asset and inventory?
- What is the difference between cost center and cost unit?
- What is the difference between debt and liability?
- What is the difference between receipt, income, payment and expenditure?
- What is the formula for net credit sales?
- What is the formula for working capital?
- What is the formula to calculate net current assets?
- What is the Journal Entry for Cash Deposit in Bank?
- What is the journal entry for cash withdrawn from bank for office use?
- What is the journal entry for cash withdrawn from bank?
- What is the journal entry for inventory purchased?
- What is the journal entry for investment in subsidiary?
- What is the journal entry for outstanding salary?
- What is the journal entry for outstanding subscription?
- What is the journal entry for payment to vendor?
- What is the journal entry for purchase of machinery?
- What is the journal entry for purchased goods on credit?
- What is the journal entry for rent paid in advance?
- What is the journal entry for salary due?
- What is the journal entry for salary paid in advance?
- What is the journal entry for sale of services on credit?
- What is the journal entry for sold goods on credit?
- What is the journal entry for trade discount?
- What is the journal entry for unbilled revenue?
- What is the meaning of assets have debit balance and liabilities have credit balance?
- What is the meaning of credit balance of trading account?
- What is the meaning of debit balance of trading account?
- What is the meaning of negative working capital?
- What is the meaning of set-off in accounting?
- What is the need, importance, and purpose of final accounts?
- What is the normal balance of dividends?
- What is the process of preparing balance sheet from trial balance?
- What is the process of preparing income statement from trial balance?
- What is the treatment of closing stock in trading account?
- What is the type of account and normal balance of petty cash book?
- What is zero working capital?
- What type of account is Purchase Return and Sales Return?
- When, Where and How to disclose contingent asset?
- Where are preliminary expenses shown in the financial statements?
- Where are trading expenses in final accounts?
- Where do contra assets go on a balance sheet?
- Where is Amortization shown in financial statements?
- Where is suspense account entered if shown in trial balance?
- Where is suspense account shown in the financial statements?
- Where to find equity in accounting?
- Which accounts are not closed at the end of an accounting period?
- Which contra account is used in recording depreciation?
- Who is bank reconciliation statement prepared by?
- Why are subsidiary books maintained in accounting?
- Why bank reconciliation statement is made?
- Why is debit written as Dr and Credit written as Cr?
- Why is financial reporting important?
- Why is income received in advance treated as a current liability?
- Why is provision for doubtful debts created?
- Why should a ledger be balanced?
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- Quiz 1 – Accounting Fundamentals – Beginner (Answers)
- Quiz 10 – Accounts Receivable – Intermediate (Answers)
- Quiz 11 – Accounting Cycle
- Quiz 11 – Accounting Cycle – (Answers)
- Quiz 12 – Accounts Payable
- Quiz 12 – Accounts Payable – (Answers)
- Quiz 13 – Accounts Receivable
- Quiz 13 – Accounts Receivable – (Answers)
- Quiz 14 – Accrued Income
- Quiz 14 – Accrued Income – (Answers)
- Quiz 15 – Amortization
- Quiz 15 – Amortization – (Answers)
- Quiz 16 – Capital Expense
- Quiz 16 – Capital Expense – (Answers)
- Quiz 17 – Contingent Liabilities
- Quiz 17 – Contingent Liabilities – (Answers)
- Quiz 18 – Contingent Assets
- Quiz 18 – Contingent Assets – (Answers)
- Quiz 19 – Credit Note
- Quiz 19 – Credit Note – (Answers)
- Quiz 2 – Accounting Fundamentals – Beginner (Answers)
- Quiz 20 – Current Assets
- Quiz 20 – Current Assets – (Answers)
- Quiz 21 – Inventory
- Quiz 21 – Inventory – (Answers)
- Quiz 22 – Current Liabilities
- Quiz 22 – Current Liabilities – (Answers)
- Quiz 23 – Direct and Indirect Expenses
- Quiz 23 – Direct and Indirect Expenses – (Answers)
- Quiz 24 – Drawings
- Quiz 24 – Drawings – (Answers)
- Quiz 25 – Debit Note
- Quiz 25 – Debit Note – (Answers)
- Quiz 26 – Intangible Assets
- Quiz 26 – Intangible Assets – (Answers)
- Quiz 27 – Liquid Assets
- Quiz 27 – Liquid Assets – (Answers)
- Quiz 28 – Operating Expense
- Quiz 28 – Operating Expense – (Answers)
- Quiz 29 – Preliminary Expenses
- Quiz 29 – Preliminary Expenses – (Answers)
- Quiz 3 – Accounting Fundamentals – Intermediate (Answers)
- Quiz 30 – Fictitious Assets
- Quiz 30 – Fictitious Assets – (Answers)
- Quiz 31 – Income received in Advance
- Quiz 31 – Income received in advance – (Answers)
- Quiz 32 – Tangible Assets
- Quiz 32 – Tangible Assets – (Answers)
- Quiz 33 – Working Capital
- Quiz 33 – Working Capital – (Answers)
- Quiz 34 – Outstanding Expenses
- Quiz 34 – Outstanding expenses – (Answers)
- Quiz 35 – Fixed Assets
- Quiz 35 – Fixed Assets – (Answers)
- Quiz 36 – Prepaid Expenses
- Quiz 36 – Prepaid Expenses – (Answers)
- Quiz 37 – Scrap Value
- Quiz 37 – Scrap Value – (Answers)
- Quiz 38 – Sundry Expenses
- Quiz 38 – Sundry Expenses – (Answers)
- Quiz 39 – Depreciation
- Quiz 39 – Depreciation – (Answers)
- Quiz 4 – Journal Entries – Beginner (Answers)
- Quiz 40 – GST
- Quiz 40 – GST – (Answers)
- Quiz 41 – Classification of Accounts (Real, Personal & Nominal)
- Quiz 41 – Classification of Accounts (Real, Personal & Nominal) – (Answers)
- Quiz 42 – Bank Reconciliation
- Quiz 42 – Bank Reconciliation – (Answers)
- Quiz 43 – Cash Book
- Quiz 43 – Cash Book – (Answers)
- Quiz 44 – Rules of Debit and Credit
- Quiz 44 – Rules of Debit and Credit – (Answers)
- Quiz 45 – Discounts and Rebates
- Quiz 45 – Discounts and Rebates – (Answers)
- Quiz 46 – Accounting Principles and Concepts
- Quiz 46 – Accounting Principles and Concepts – (Answers)
- Quiz 47 – Bills of Exchange
- Quiz 47 – Bills of Exchange – (Answers)
- Quiz 48 – Consignment
- Quiz 48 – Consignment – (Answers)
- Quiz 49 – Debit or Credit Balance in Trial Balance
- Quiz 49 – Debit or Credit Balance in Trial Balance (Answers)
- Quiz 5 – Accounting Abbreviations – Beginner (Answers)
- Quiz 50 – Trial Balance
- Quiz 50 – Trial Balance – (Answers)
- Quiz 51 – Ledger
- Quiz 51 – Ledger – (Answers)
- Quiz 6 – Accounting Abbreviations – Beginner (Answers)
- Quiz 7 – Accounting Terms – Beginner (Answers)
- Quiz 8 – Accounting Terms – Beginner (Answers)
- Quiz 9 – Accounts Payable – Intermediate (Answers)
- Ratios
- Types of Accounting Ratios
- What is Acid Test Ratio?
- What is Creditor’s Turnover Ratio?
- What is Current Ratio?
- What is Debt to Asset Ratio?
- What is Debt to Equity Ratio?
- What is Debtor’s Turnover Ratio?
- What is Fixed Assets Ratio?
- What is Gaining Ratio?
- What is Gross Profit Ratio?
- What is Interest Coverage Ratio?
- What is Net Profit Ratio?
- What is Operating Cash Flow Ratio?
- What is Operating Profit Ratio?
- What is Proprietary Ratio?
- What is Sacrificing Ratio?
- What is Super Quick Ratio?
- What is Working Capital Turnover Ratio?
- What is Stock Turnover Ratio?
- Submission Confirmed
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- About us
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- Acronyms
- Assets
- Estimated Useful Life of an Asset
- How To Calculate Scrap Value of an Asset?
- How to Dispose an Asset Without Using Asset Disposal Account?
- What are Fixed Assets?
- What are Intangible Assets?
- What are Liquid Assets?
- What are Non-Performing Assets or NPA?
- What are Sundry Debtors?
- What are Tangible Assets?
- What is Depletion and Obsolescence?
- What is Net Book Value?
- What are Assets?
- What is Asset Disposal Account?
- What is Scrap Value of an Asset?
- What are Fictitious Assets?
- How to Calculate Depreciation Rate % From Depreciation Amount?
- What are Contingent Assets?
- What are Current Assets?
- What is Depreciation and its Types?
- Liabilities
- Revenues
- Expenses
- Carriage Outwards & Carriage Inwards in Trial Balance
- Indirect Expenses List
- Treatment of Prepaid Expenses in Final Accounts
- What are Outstanding Expenses?
- What are Sundry Expenses?
- What is Capitalized Expenditure?
- What is Carriage Inwards and Carriage Outwards?
- What is Revenue Expenditure?
- What is Unexpired Cost?
- What are Prepaid Expenses?
- What is Deferred Revenue Expenditure?
- What are Preliminary Expenses?
- What is Capex and Opex?
- What are Direct and Indirect Expenses?
- What is Accounts Payable (With Example)?
- Journal Entries
- Accounting and Journal Entry for Advance Received from a Customer
- Accounting and Journal Entry for Bill of Exchange
- Accounting and Journal Entry for Closing Stock
- Accounting and Journal Entry for Credit Card Sales
- Accounting and Journal Entry for Director’s Remuneration
- Accounting and Journal Entry for Income Tax
- Accounting and Journal Entry for Loan Payment
- Accounting and Journal Entry for Loan Taken From a Bank
- Accounting and Journal Entry for Manager’s Commission
- Accounting and Journal Entry For Provident Fund
- Accounting and Journal Entry for Purchase Returns
- Accounting and Journal Entry for Rent Paid
- Accounting and Journal Entry for Rent Received
- Accounting and Journal Entry for Salary Paid
- Accounting and Journal Entry for Sales Returns
- Bought Goods for Cash Journal Entry
- Journal Entry Examples
- Journal Entry for Amortization
- Journal Entry for Bank Charges Paid
- Journal Entry for Bank Overdrafts
- Journal Entry for Cheque Received from Debtor
- Journal Entry for Cheques Dishonoured
- Journal Entry for Interest Paid on Loan
- Journal Entry for Introduction of Capital as Assets
- Journal Entry for Money Received from the Debtor
- Journal Entry for Opening Stock
- Journal Entry for Payment to Creditor
- Journal Entry to Place Money in Fixed Deposit
- Sold Goods for Cash Journal Entry
- What are Closing Entries?
- What are Rectification Entries?
- What is a Reclass Entry?
- What is a True-up Entry?
- What is the Journal Entry for Accrued Income?
- What is the Journal Entry for Bad Debts?
- What is the Journal Entry for Carriage Inwards?
- What is the Journal Entry for Carriage Outwards?
- What is the Journal Entry for Cash Discount?
- What is the Journal Entry for Credit Purchase and Cash Purchase?
- What is the Journal Entry for Credit Sales and Cash Sales?
- What is the Journal Entry for Interest on Capital?
- What is the Journal Entry for Interest on Drawings?
- What is the Journal Entry for Recovery of Bad Debts?
- What is the Journal Entry for Depreciation?
- What is the Journal Entry for Discount Allowed?
- What is the Journal Entry for Discount Received?
- What is the Journal Entry for Income Received in Advance?
- What is the Journal Entry for Outstanding Expenses?
- What is the Journal Entry for Prepaid Expenses?
- What is the Journal Entry for Profit on Sale of Fixed Assets?
- What is the Journal Entry for Loss on Sale of Fixed Assets?
- What is the Journal Entry for Goods Given as Charity or Free Samples?
- Differences
- Difference Between Bad Debts and Doubtful Debts
- Difference Between Bill of Exchange and Promissory Note
- Difference Between Current Assets and Liquid Assets
- Difference Between Depreciation and Provision for Depreciation
- Difference between Depreciation, Depletion and Amortization
- Difference Between Fixed Assets and Intangible Assets
- Difference Between Fixed Capital and Working Capital
- Difference Between Revaluation Account and Realisation Account
- What is the Difference Between Capital Receipts and Revenue Receipts?
- What is the Difference Between Carriage Inwards and Carriage Outwards?
- What is the Difference between Current Assets and Current Liabilities?
- What is the Difference Between Debtors and Creditors?
- What is the Difference Between Depreciation and Amortization?
- What is the Difference Between Discount and Rebate?
- What is the difference between Journal Entry and Journal Posting?
- What is the Difference Between Ledger and Trial Balance?
- What is the Difference Between Loss and Expense?
- What is the difference between Profit and Loss & Profit and Loss Appropriation Account?
- What is the Difference Between Purchase Book and Purchase Account?
- What is the Difference Between Revenue and Profit?
- What is the Difference Between Revenue and Profit?
- What is the Difference Between Sales Book and Sales Account?
- What is the Difference Between Net Profit and Operating Profit?
- What is the Difference Between Financial Accounting and Cost Accounting?
- What is the Difference Between Financial Accounting and Management Accounting?
- What is the Difference Between Fixed Assets and Current Assets?
- What is the Difference Between Income Statement and Balance Sheet?
- What is the Difference Between Journal and Ledger?
- What is the Difference Between Trade Discount and Cash Discount?
- What is the Difference Between Balance Sheet and Trial Balance?
- What is the Difference Between Bookkeeping and Accounting?
- What is the Difference Between Cost and Management Accounting?
- What is the Difference Between Finance and Accounting?
- What is the Difference Between Gross Profit and Net Profit?
- What is the Difference between Gross Profit and Operating Profit?
- What is the Difference Between Tangible and Intangible Assets?
- What is the Difference Between Debit Note and Credit Note?
- What is the Difference Between Reserves and Provisions?
- Other Topics
- How to Show Trade Discount in Purchase Book?
- Profit Sharing Ratio
- Valuation of Goodwill
- What are Different Types of Purchase Orders?
- What are Notes to Accounts?
- What are Off-Balance Sheet (OBS) Items?
- What are Source Documents in Accounting?
- What is a Bill of Exchange?
- What is a Cash Memo?
- What is a Purchase Order (Meaning, Template, Example, Download)?
- What is an Invoice or a Bill?
- What is Cost Center?
- What is Three-Way Matching?
- How to Prepare a Trial Balance from Ledger Balances?
- What is a Profit Center?
- What is a Promissory Note?
- What is SOX?
- What is a Service Center?
- What is Bank Reconciliation Statement?
- What is Contra Entry?
- What is Accumulated Depreciation?
- What is Days Payable Outstanding (DPO)?
- What is Days Sales Outstanding (DSO)?
- What is Grouping and Marshalling?
- What is Honorarium?
- What is Inflation Accounting?
- What is Provision for Discount on Debtors?
- What is Provision for Doubtful Debts?
- Why is Depreciation Not Charged on Land?
- Why Closing Stock is Not Shown in Trial Balance?
- Books and Accounts
- Credit Balance of Profit and Loss Account
- Debit Balance of Profit and Loss Account
- Format of Balance Sheet
- Simple petty cash book
- What are Balance Sheet Accounts?
- What are Different Types of Ledgers?
- What are Subsidiary Books?
- What is a Balance Sheet?
- What is a Contra Liability?
- What is a Journal?
- What is a Realisation Account?
- What is a Revaluation Account?
- What is an Income Statement?
- What is an Offset Account?
- What is Profit and Loss Appropriation Account?
- What is a Ledger?
- What is Purchase Returns Book?
- What is Adjusted Trial Balance?
- What is a Sales Book?
- What are Final Accounts?
- What is Sales Return Book?
- What is a Trial Balance?
- What are the Three Types of Accounts?
- What is Bills Payable Book?
- What is Bills Receivable Book?
- What is Cash Book?
- What is Journal Proper?
- What is Petty Cash Book?
- What are Sales and Purchase Ledger Control Accounts?
- What is a Suspense Account?
- What is Chart of Accounts?
- What is a Contra Account?
- What is Control Account?
- What is a Subledger?
- What is a Purchase Book?
- Basic Accounting
- Goodwill
- How to Prepare a Journal Entry? (Steps)
- Meaning of Capitalized in Accounting
- Trading Account with Format and Example in Accounting
- What are Capital Receipts?
- What are Modern Rules of Accounting?
- What are Qualitative Characteristics of Accounting Information?
- What are Reserves?
- What are Revenue Receipts?
- What are the Three Types of Personal Accounts?
- What are Trade Receivables and Trade Payables?
- What is an Accounting Period?
- What is Authorized Capital?
- What is Balance B/D and Balance C/D?
- What is Balance B/F and Balance C/F?
- What is Bookkeeping?
- What is Gross Profit and Gross Loss?
- What is Management Accounting?
- What is Net Profit and Net Loss?
- What is Posting?
- What is Write off or Expense off in Accounting?
- Who are the Users of Accounting Information?
- What are Drawings and its Journal Entry (Cash, Goods)?
- What is Ratio Analysis?
- What is Return Inwards?
- What is Return Outwards?
- What is Cash Discount?
- What is the Accounting Equation?
- What are Three Golden Rules of Accounting?
- What are Three Major Financial Statements?
- What is Trade Discount?
- What are Accounting Principles?
- What are Accruals?
- What are Bad Debts?
- What are Different Accounting Concepts?
- What is a Compound Journal Entry?
- What is Double Entry Accounting System?
- What is a Voucher?
- What is Capital?
- What is Cost of Goods Sold or COGS?
- What is Debit Balance and Credit Balance?
- What is the Accounting Cycle?
- What is the Accounting Process?
- What is Working Capital?
- What are Accounting Ratios?
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Cloud Templates
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- Header Template 22 - Business