Quiz 13: Balance Sheet or Income Statement Quiz

Take our online quiz to check out your knowledge of the chart of accounts used in double entry bookkeeping.

Not Ready for the Quiz?

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

1. Is the depreciation expense a Balance sheet or Income statement account?
Right!
Wrong
2. Is finished goods inventory a Balance sheet or Income statement account?
Right!
Wrong
3. Is accounts receivable a Income statement or Balance sheet account?
Right!
Wrong

 

4. Is the professional fees account a Balance sheet or Income statement account?
Right!
Wrong
5. Is accruals a Balance sheet or Income statement account?
Wrong
Right!
6. Is the rental income account a Income statement or Balance sheet account?
Right!
Wrong
7. Is the carriage inwards account a Balance sheet or Income statement account?
Wrong
Right!
8. Is payroll a Balance sheet or Income statement account?
Right!
Wrong
9. Is cash a Income statement or Balance sheet account?
Wrong
Right!
10. Is leasehold property a Balance sheet or Income statement account?
Wrong
Right!

Try Another Double Entry Bookkeeping Quiz

The balance sheet and income statement 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 July 16th, 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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