Take our online balance sheet or income statement quiz to check out your knowledge of the chart of accounts used in double entry bookkeeping.
A chart of accounts is a list of all the accounts used by a business to record financial transactions. It helps to organize financial data and make it easier to analyze financial statements. It is important to be able to correctly classify whether an account is either a balance sheet or an income statement account.
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If you need a refresher course on this topic you can view our tutorial on the chart of accounts here.
Start the Balance Sheet or Income Statement Quiz
Click on an answer to reveal whether its Right! or Wrong
Try Another Double Entry Bookkeeping Quiz
The balance sheet or income statement quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping in business. Discover another at the links below.
- Quiz 17: Debit and Credit Bookkeeping Quiz
- Quiz 65: Accounting Transactions
- Quiz 22: Debits and Credits in Accounting Quiz
- Quiz 50: Income Statement Quiz
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.