Bookkeeping Quiz

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Test your knowledge of bookkeeping with these 10 questions!

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Marisa Frattaroli

Argentina

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Froggy Jumps Bookkeeping QuizVersión en línea Test your knowledge of bookkeeping with these 10 questions! por Marisa Frattaroli 1 What is bookkeeping? a The preparation of tax returns b The recording of financial transactions c The analysis of financial statements 2 What is the purpose of bookkeeping? a To track and record financial transactions b To analyze business performance c To create financial reports 3 What is a ledger? a A book or computer file that contains accounts b A financial statement c A tax form 4 What is a journal entry? a A balance sheet b A record of a single transaction c A summary of financial transactions 5 What is the double-entry bookkeeping system? a A system that records only revenues b A system that records two sides of every transaction c A system that records only expenses 6 What is the purpose of a trial balance? a To calculate net income b To prepare financial statements c To check the accuracy of the bookkeeping records 7 What is depreciation? a The increase in value of an asset over time b The cost of an asset c The decrease in value of an asset over time 8 What is a cash flow statement? a A statement of financial position b A financial statement that shows the flow of cash in and out of a business c A statement of retained earnings 9 What is the difference between accounts payable and accounts receivable? a Accounts payable is money owed by a business, while accounts receivable is money owed to a business b Accounts payable is money owed to a supplier, while accounts receivable is money owed by a customer c Accounts payable is money owed to a business, while accounts receivable is money owed by a business 10 What is the purpose of a general ledger? a To track accounts payable b To record all financial transactions of a business c To prepare tax returns

Froggy Jumps

Bookkeeping QuizVersión en línea

Test your knowledge of bookkeeping with these 10 questions!

por Marisa Frattaroli

What is bookkeeping?

The preparation of tax returns

The recording of financial transactions

The analysis of financial statements

What is the purpose of bookkeeping?

To track and record financial transactions

To analyze business performance

To create financial reports

What is a ledger?

A book or computer file that contains accounts

A financial statement

A tax form

What is a journal entry?

A balance sheet

A record of a single transaction

A summary of financial transactions

What is the double-entry bookkeeping system?

A system that records only revenues

A system that records two sides of every transaction

A system that records only expenses

What is the purpose of a trial balance?

To calculate net income

To prepare financial statements

To check the accuracy of the bookkeeping records

What is depreciation?

The increase in value of an asset over time

The cost of an asset

The decrease in value of an asset over time

What is a cash flow statement?

A statement of financial position

A financial statement that shows the flow of cash in and out of a business

A statement of retained earnings

What is the difference between accounts payable and accounts receivable?

Accounts payable is money owed by a business, while accounts receivable is money owed to a business

Accounts payable is money owed to a supplier, while accounts receivable is money owed by a customer

Accounts payable is money owed to a business, while accounts receivable is money owed by a business

What is the purpose of a general ledger?

To track accounts payable

To record all financial transactions of a business

To prepare tax returns

Bookkeeping Quiz

Froggy Jumps

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Bookkeeping QuizVersión en línea

por Marisa Frattaroli

What is bookkeeping?

What is the purpose of bookkeeping?

What is a ledger?

What is a journal entry?

What is the double-entry bookkeeping system?

What is the purpose of a trial balance?

What is depreciation?

What is a cash flow statement?

What is the difference between accounts payable and accounts receivable?

What is the purpose of a general ledger?