bookkeeping basics quiz

Quiz 1: Bookkeeping Basics Quiz

Test your knowledge of bookkeeping with our online bookkeeping basics quiz. If you need a refresher course on this topic you can view our bookkeeping basics tutorials here.

Start the Bookkeeping Basics Quiz

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

1. Bookkeeping is used to record the transactions of which entity ?
Wrong
Right!
Wrong
2. What do we call the exchange of goods and services?
Right!
Wrong
Wrong

 

3. What is to term used to describe the recording of a transaction in the accounting records using debits and credits?
Wrong
Right!
Wrong
4. What is the left side of a transaction which records something coming into the business called?
Wrong
Right!
5. What is the right side of a transaction which records something going out of the business called?
Wrong
Right!
6. Accounting records are made up of individual what?
Right!
Wrong
Wrong
7. Which of these is not a Financial Statement?
Wrong
Right!
Wrong
8. The length of time over which a set of financial statements is produced is called what?
Right!
Wrong
Wrong

 

 

 

 

Try Another Double Entry Bookkeeping Quiz

The bookkeeping basics 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 May 24th, 2021 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 and has built financial models for 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 degree from Loughborough University.

You May Also Like

Posted By: Michael Brown
Bookkeeping Basics