Quiz 38: Accounting Basics Quiz

Accounting Basics Quiz

Test your knowledge of bookkeeping and accounting with our online accounting basics quiz.

If you need a refresher course on this topic you can view our bookkeeping basics tutorials here.

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

1. The income statement shows which of the following?
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2. Equity is shown on which financial statement?
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3. Gross profit is equal to revenue less which item?
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4. Inventory and accounts receivable are classified in the balance sheet as ?
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5. The terms operating, financing and investing as used to categorize what type of item?
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6. A double entry bookkeeping posting requires a minimum of how many accounts?
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7. A listing of the account names and account codes is called what?
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8. A listing of the balances on all accounts is called what?
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9.The accounting equation can be stated as?
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10. Using the indirect method, the cash flow statement starts with which item?
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Last modified September 30th, 2019 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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