Quiz 34: Account Type

Identifying the account type (asset, liability, equity, revenue, or expense), is an important part of the accounting transaction analysis process. Test your knowledge of double entry bookkeeping and accounting with our online quiz.

Not Ready for the Account Transaction Type Quiz?

If you need a refresher course on this topic update your knowledge using our tutorial on the accounting transaction analysis process.

Start the Account Type Quiz

Click on an answer to reveal whether its Right! or Wrong

1. What account type is the cash account?
Wrong
Right!
Wrong
2. What type of account is the cost of sales account?
Right!
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Wrong
3. What account type is a loan account?
Wrong
Right!
Wrong

 

4. What type of account is the inventory account?
Wrong
Wrong
Right!

 

 

5. What account type is the rent expense account?
Wrong
Wrong
Right!
6. What type of account is the accounts payable account?
Right!
Wrong
Wrong
7. What account type is the common stock account?
Wrong
Right!
Wrong
8. What account type is the accounts receivable account?
Right!
Wrong
Wrong
9. What account type is the freehold building account?
Right!
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10. What account type is the sales account?
Wrong
Wrong
Right!

Try Another Double Entry Bookkeeping Quiz

This accounting quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below.

Last modified December 14th, 2016 by Michael Brown

About the Author

Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years in all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a BSc from Loughborough University.

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