Business & Finance

Beginner Accounting Essentials Challenge

Dive into simple accounting topics with this engaging 8-question quiz perfect for foundational knowledge.

#accounting basics#financial statements#balance sheet#assets liabilities#trial balance#double entry#income statement#debits credits

Total Questions

Difficulty Level

easy

Progress

0/0

Quiz Questions

Answer all questions below and test your knowledge.

1
What is the basic accounting equation?
Question 1
2
In double-entry accounting, how many accounts are affected by each transaction?
Question 2
3
Which financial statement reports a companys revenues and expenses over a period?
Question 3
4
A debit entry to an asset account does what?
Question 4
5
What is the purpose of a trial balance?
Question 5
6
Which is a current asset?
Question 6
7
Under accrual accounting, revenue is recognized when?
Question 7
8
If a company buys supplies for cash, which accounts are involved?
Question 8