How These Accounting Exam Questions Can Save Your Future

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Get Accounting Exam Questions to Test Your Knowledge

Students are endlessly worried when it comes to their test scores. If you want to perform well in your next accounting exam, preparation is the best solution. You can test your knowledge and improve it by using accounting exam questions sample online. It is a helpful resource that everybody should utilize in order to guarantee better test performance. You can also familiarize yourself on various test format and topics with free pre test sample online. Get started now and take free accounting exam questions online. Here are sample questions that are great help for students:

  1. We can say that the business is in profit, when:
  1. Assets exceed Expenditure
  2. Income exceeds Liabilities
  3. Income exceeds Expenditure (Answer)
  4. Income exceeds Liabilities
  1. According to the double entry system of accounting, an account that obtains benefit is:
  1. Credit Answer)
  2. Debit
  3. Income
  4. No need to show as accounting record
  1. Term “Credit” means_______ by the business.
  1. Receiving of benefits Answer)
  2. It has no effect on business
  3. Providing of benefits
  4. It depends upon items
  1. When Capital is increased by an amount, it is recorded on the:
  1. Right or debit side of the account
  2. Left or credit side of the account
  3. Left or debit side of the account
  4. Right or credit side of the account (Answer)
  1. What types of expenses are paid out of Gross Profit?
  1. General Expenses
  2. Financial Expenses
  3. Selling Expenses
  4. All of the given options (Answer)
  1. Which of the following is NOT an example of intangible assets?
  1. Franchise rights
  2. Goodwill
  3. Patents
  4. Land (Answer)
  1. Which of the following is an example of business liability?
  1. Land
  2. Building
  3. Cash
  4. Creditors (Answer)
  1. The unfavorable balance of Profit and Loss account should be:
  1. Added in liabilities
  2. Subtracted from current assets
  3. Subtracted from capital (Answer)
  4. Subtracted from liabilities
  1. Which of the following shows summary of a company’s financial position at a specific date?
  1. Profit & Loss Account
  2. Cash Flow Statement
  3. Balance Sheets (Answer)
  4. Income & Expenditure Account
  1. The concept of separate entity is applicable to which of following types of businesses?
  1. Sole proprietorship
  2. Corporation
  3. Partnership
  4. All of them (Answer)

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Exam Preparation Tips and Guide from Experts Online

Additionally you can check out CPA exam financial accounting and reporting sample questions, but for students who want to attain excellence, you should recognize the best exam preparation tips that will surely help you study effectively. Here are useful guide for online exam preparation that would make a huge difference in your academic career:

  1. Time is of the essence so start early. Allot enough time to study and cover all important topics.
  2. Get ready with your notes, files and other study materials. You can create reminders for topics that you haven’t mastered enough to retain the information better.
  3. You should get enough sleep as this will help you prepare mentally.
  4. Answer accounting exam questions online. It will help you test yourself and recognize which areas you need to work on.
  5. Use online exam preparation resources as they can provide you access to pre test sample and give top help for students.

Also see management accounting exam questions and answers, for being ready for this test as well!

Accounting exam questions and answers are intended to give potential test takers a preview on what to expect on the actual test. You can try out free sample of accounting exam questions and answers online.

Assess your knowledge and skills now using accounting exam questions!