Bookkeeping Exam
Test your bookkeeping skills online.
Sample Bookkeeping Exam Questions
| 1. |
A listing of the account numbers and titles but without account balances is the ______________ of accounts. |
| 2. |
Prior to approving a vendor's invoice for payment, the invoice, receiving ticket, and ______________ order should be compared. |
| 3. |
The report that sorts a company's accounts receivables into current, 1-30 days past
due, 31-60 days past due, etc. is referred to as the ______________ of accounts receivable. |
| 4. |
The amount of insurance premiums that have not yet expired is reported as an ______________.
asset expense |
| 6. |
The bank statement has an ending balance of $1,700. There are $600 of deposits in transit
and $2,100 of checks outstanding. The adjusted balance per the bank statement is $______________. |
| 7. |
Which of the following will increase the balance in a liability account?
debit credit |
| 8. |
Which of the following will increase the balance in a revenue account?
debit credit |
| 9. |
Rent Expense, Wages Expense, and Advertising Expense are expected to have ____________ balances.
debit credit |
| 10. |
The cost of the land that is used as the site of a new warehouse should be depreciated.
True False |
| 11. |
The book value of a company's equipment is usually the same as the equipment's fair market value.
True False |
| 13. |
Costs that are used up or expire in the current accounting period are reported on the income statement as ______________. |
| 14. |
Generally, the amounts reported in the accounts Land, Buildings, and Equipment are the historical ______________ of these assets and not their current market values. |
| 15. |
The balance sheet reports amounts for a ______________ ___________ time.
period of moment in |
| 16. |
Normally, the Inventory account will report the goods on hand at the selling prices of the goods.
True False |
| 17. |
An hourly-paid employee's take home pay is also known as the employee's net pay.
True False |
| 18. |
Federal income tax withheld from an employee's pay is matched by the employer.
True False |
| 19. |
The sale of a company's old delivery truck would be recorded in a sales journal and in the account Sales.
True False |
| 20. |
______________-entry bookkeeping involves two or more accounts when recording every business transaction. |
 | |
Want more bookkeeping questions?
The above bookkeeping questions are taken from AccountingCoach.com's 300-question Bookkeeping Exam.
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