Multiple Choice Questions Archives - My Accounting Course https://www.myaccountingcourse.com Learn Accounting Online for Free Sun, 26 Mar 2023 04:36:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.10 Financial Statements Multiple Choice Questions https://www.myaccountingcourse.com/financial-statements/multiple-choice Fri, 27 Oct 2017 06:39:48 +0000 https://www.myaccountingcourse.com/?page_id=5683 Correct! Correct Close me! Incorrect! Incorrect Close me! 1. What financial statement lists assets from current to long term? balance sheet income statement cash flow statement statement of retained earnings 2. What balance sheet formal is verticle? standard report account inverted 3. Income statement format that separates cost of goods sold into categories? standard detailed ... Read more

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1. What financial statement lists assets from current to long term?




2. What balance sheet formal is verticle?




3. Income statement format that separates cost of goods sold into categories?




4. Net income equals:




5. Which is not a cash activity listed on the cash flow statememt?




6. What financial ratio helps management evaluate profits available for dividends?




7. The days’ sales in inventory ratio formula uses which of the following:




8. Earnings per share shows investors the __________ earned per outstanding share of stock.




9. The dividend payout ratio is calculated by dividing total dividends by:




10. The profit margin ratio measures the _______________ earned from each dollar of sales.




of financial statements with these quizzes.











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]]> Financial Ratios https://www.myaccountingcourse.com/financial-ratios/multiple-choice Fri, 27 Oct 2017 06:36:35 +0000 https://www.myaccountingcourse.com/?page_id=5681 Correct! Correct Close me! Incorrect! Incorrect Close me! 1. What ratio can be used to inefficient buying habbits? inventory turnover ratio gross margin ratio equity multiplier debt ratio 2. A ratio that compares investors’ and creditors’ stake in a company. debt ratio debt to equity ratio equity ratio investor creditor ratio 3. The ratio that ... Read more

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1. What ratio can be used to inefficient buying habbits?




2. A ratio that compares investors’ and creditors’ stake in a company.




3. The ratio that explains how efficiently companies use their assets to generate revenue.




4. What does the accounts receivable turnover ratio tell us?




5. The best ratio to evaluate short-term liquidity is:




6. The DuPont Analysis uses the following ratios except:




7. Which best describes the gross margin ratio?




8. Inventory turnover ratio evalulates:




9. The equity multiplier helps creditors:




10. The quick ratio formula uses which of the following














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]]> Accounting Principles Multiple Choice Questions https://www.myaccountingcourse.com/accounting-principles/multiple-choice Fri, 27 Oct 2017 06:31:39 +0000 https://www.myaccountingcourse.com/?page_id=5677 Correct! Correct Close me! Incorrect! Incorrect Close me! 1. The accounting principle that states companies and owners should be account for separately. business entity concept going concern concept monetary unit assumption periodicity assumption 2. Companies not disclosing an immanent bankruptcy would violate the: business entity concept going concern concept monetary unit assumption periodicity assumption 3. ... Read more

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1. The accounting principle that states companies and owners should be account for separately.




2. Companies not disclosing an immanent bankruptcy would violate the:




3. The assumption that states that businesses can divide up their activities into artificial time periods.




4. Assets are recorded at their original purchase price according to the:




5. Management concealing important financial information violates the:




6. When estimating unearned revenues, what principle applies?




7. What is not a value of accounting relevance?




8. What is not a value of accounting reliability?




9. Switching accounting principles every year would violate the:




10. Recording expenses and revenues in the same period in which they occur.














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]]> Accounting Cycle Multiple Choice Questions https://www.myaccountingcourse.com/accounting-cycle/multiple-choice Fri, 27 Oct 2017 05:55:40 +0000 https://www.myaccountingcourse.com/?page_id=5670 Correct! Correct Close me! Incorrect! Incorrect Close me! 1. The accounting cycle begins by recording _____________ in the form of journal entries. business transactions financial information corporate minutes business contracts 2. After a business transaction has occurred, journal entries are recorded in the: general ledger general journal expense accounts balance sheet 3. Once journal entries ... Read more

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1. The accounting cycle begins by recording _____________ in the form of journal entries.




2. After a business transaction has occurred, journal entries are recorded in the:




3. Once journal entries are recorded, they can be posted to:




4. Which trial balance lists all the business accounts before year-end adjusting journal entries are made.




5. Entries that are made at the end of a period to correct accounts before financial statements are prepared.




6. This trial balance is created after adjusting journal entries have been recorded.




7. Reports that can be prepared from the adjusted trial balance.




8. A tool used to help bookkeepers and accountants complete the accounting cycle.




9. Entries made to transfer temporary account balances to permanent accounts.




10. Accounts with balances that are carried over to future years.




of the accounting cycle with these quizzes.











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]]> Financial Accounting Basics Multiple Choice Questions https://www.myaccountingcourse.com/accounting-basics/multiple-choice Fri, 27 Oct 2017 05:16:31 +0000 https://www.myaccountingcourse.com/?page_id=5655 Correct! The income statement displays all revenues and expenses recorded in a period in a single report. Close me! Incorrect! The balance sheet displays assets, liabilities, and owner’s equity. Close me! Incorrect! The cash flow statement shows the changes in cash during a period. Close me! Incorrect! The statement of stockholder’s equity shows the changes ... Read more

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1. Which financial statement displays the revenues and expenses of a company for a period of time?




2. What is the main purpose of financial accounting?




3. Which of these is not included as a separate item in the basic accounting equation?




4. Which financial statement uses the expanded accounting equation?




5. The accrual basis of accounting records revenues when they are:




6. The account format that displays debits, credits, balances, and headings.




7. Asset accounts have what type of balance?




8. Which account is not a liability account?




9. Which account increases equity?




10. A contra asset account has what type of balance?













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]]> Accounting Multiple-Choice Questions https://www.myaccountingcourse.com/accounting-quizzes/multiple-choice Tue, 17 Oct 2017 02:57:18 +0000 https://myaccountingcourse.com/?page_id=5297 Accounting Multiple Choice Questions   Financial Accounting Basics Accounting Principles Accounting Cycle Financial Statements Financial Ratios Instructions Here are a list of the accounting topics that I have made multiple choice questions for. Good luck with your studying!     with these other accounting quizzes. Crossword Puzzles Multiple Choice Matching Fill in the Blank Word Scrambles ... Read more

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]]> Accounting Multiple Choice Questions

 

Instructions

Here are a list of the accounting topics that I have made multiple choice questions for. Good luck with your studying!

 

 


with these other accounting quizzes.

 

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